| Smart Economic Development for Minnesota
The public sector plays a role in both long- and short-term economic development in our state. In an economic downturn, this role is even more important. By assisting businesses, laid-off workers and entrepreneurs, along with wise use of available federal funding, the state can better weather the storm. Smart approaches to long-term development, including investments in education and infrastructure, avoiding company-specific tax breaks, and a focus on strengths and growth drivers, can help Minnesota increase growth and prosperity.
Guiding principles for state and local economic development policy include these:
- Public policies influence growth, but do not supplant the private sector
- Public economic efforts should not overreach but should focus on factors under the influence of the government
- State and regional advantages are built upon
- Efforts are cost effective
- Policies benefit both businesses and the workforce
- Areas and people of the state most in need receive attention
- Regional efforts compliment broader statewide policy
- The state's natural resources are protected
Targeted economic development policy will strengthen Minnesota's economy in the short term, while putting the pieces in place for a prosperous future.
For more information about Smart Economic Development for Minnesota read our full report, or the policy breif. To get involved, contact Matt Kane at 651-251-0677 or email matt[at]growthandjustice.org.
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