Grow Minnesota! Support in a "Shaky
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An overview of the Grow! Minnesota Service provided by the Minnesota Chamber of Commerce. Efforts to support Minnesotans and grow businesses in a "shaky" economy.
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Grow Minnesota! Support in a "Shaky
- 1. Grow Minnesota! …Support in a “shaky” economy Detroit Lakes Chamber Economic Summit March 2012
- 2. What Is Grow MN!? • Private sector economic development… …strategic links to public sector • MN Chamber sponsored • 57 local chamber partners…including Detroit Lakes • 3 parts to the program: – Business retention – Business assistance – Business expansion
- 4. Grow Minnesota! Visit – 3 Parts • Say, “Thank you!” • Ask, “How can we help your business?” • Ask, “How to make business environment better?”
- 5. Why Is Grow MN! Important? • No one else says, “Thank you.” • Businesses have more choices than ever – Talk directly to the decision maker – Learn firsthand re issues & plans • Businesses expect Chambers to help – 25% would turn to chamber of commerce for assistance
- 6. Grow MN! 2010-2011 Results • 990 one-on-one business retention visits – 136 in Central Minnesota • 23% are revisits – 36 in Central Minnesota • 122 firms assisted, affecting 4,900 jobs – Including 18 in Central Minnesota • BusinessConnection: – 940 on line searches completed – 50 email questions answered
- 8. Sales -- Last 2 Years 60.00% 50.00% 40.00% Percentage 30.00% 20.00% 10.00% 0.00% Increased Relatively Stable Decreased Fluctuated Widely Responses State (N=582) Central Region (N=97)
- 9. Profitability -- Last 2 Years 40.00% 35.00% 30.00% 25.00% Percentage 20.00% 15.00% 10.00% 5.00% 0.00% Increased Relatively Stable Decreased Fluctuated Widely Responses State (N=541) Central Region (N=95)
- 10. Businesses Creating New Products in the Last Two Years 100% 95% 90% 85% Percentage 80% 75% 70% 65% 60% 55% 50% 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 Fiscal Year State Central MN
- 11. Fastest Growing Markets What is your company's fastest growing market? 45% 40% 35% 30% Percentage 25% 20% 15% 10% 5% 0% g l l ta st es ca na in so we at Lo ow io ne St at id gr M rn in d M e te te ar In i Un ne No Market Minnesota (N=592) Central MN (N=93)
- 12. Export Sales: Opportunities • What: high value and/or made-to-order • Where: look for growing middle class
- 14. Expected Job Growth, Next Year (2010-2011 Results) Expectation for Employment Changes Minnesota Central MN Increase 40.8% 48.4% Stable 51.6% 46.8% Unsure 5.5% 3.2% Decrease 2.0% 1.6% N=488
- 15. Expected Job Growth, Next Year 70% 66% 60% 52% 50% Percentage 41% 40% 2009-2010 30% 27% 2010-2011 20% 10% 6% 4% 3% 2% 0% Unsure Stable Increase Decrease Responses 2009-10 N = 600 2010-11 N = 488
- 16. Rating Central MN Business Climate • What’s working: – Housing – Energy reliability – K12 education • What’s not: – Air service – State taxes – Health care cost – Energy cost
- 17. Expansions – Next Two Years • 2010: 147 (25%) Current Community 66% In MN 15% • 2011: 198 (29%) – 28 in Central MN Another State 9% Another Country 2% • Where: 2011 Don’t Know 8%
- 18. Why Not Central MN? • Markets • Uncertainty, e.g. permitting, energy $s • Workforce
- 19. Workforce: A “New Normal” • Jobs are being created… • But, they are different… …Mismatch of current skills & current openings
- 20. Recent Issues Recruiting Employees? (2010-2011 Results) N=667
- 21. Key Workers – Still in Short Supply (2010-2011 Results) Difficulty Recruiting Employees 80% 70% 60% Percentage 50% 40% 30% 20% 10% 0% gy t f ct e g er n af en im t in tio ra lo th St em no nt T ke uc O rt- ce Co ag ar od ch Pa ffi M / Te an Pr ry l/ O s/ ra l/M n le n ica sio po io Sa na at er m i ec sio rm Cl Te Pr fo es In of Pr Job Type % Yes - State % Yes - Central MN
- 22. Job Creation Agenda: What Grow MN! Visits Suggest? • Talk to the “customers” – They expect it! – You can help! E.g. Exporting • Improve economic infrastructure – More workers – right skills – Air service: make it an advantage – Energy: restore your advantage
- 23. Questions?
Editor's Notes
- Locations of Grow MN! partners showing the statewide impact of the program.
- Say “Thank you”: Talk about the importance of thanking the business for being located in Minnesota. “ Many times when we sit down with the business owner it’s the first time anyone has thanked him/her for being located in Minnesota and it helps set the tone for the conversation.” Ask “About assistance”: More will be discussed on this topic later on in the presentation, but one of the important purposes Grow MN! has been fulfilling is the follow-up assistance that we can provide to companies across the state. Ask “About environment”: Results of the visits are pulled together at the end of our year and turned into an annual report. The results of this report are used at the state capitol to lobby on behalf of businesses and help set the priorities of the MN Chamber. Locally, we use the results at/to… (e.g. city council meetings, member meetings, etc.).
- In an independent survey completed in the summer of 2010, businesses were almost as likely to turn to a chamber of commerce, through the Grow MN! program, for assistance as the Small Business Development centers and DEED.
- Business Expansion: ‘09 Results: 12 companies: 6 TC/6 Greater MN Done deals: 5 = 200+ jobs MN Rubber (Litchfield) Sage (Faribault) Goodrich (Burnsville) Detroit Diesel (Hibbing) Behrens (Winona) Dead: 3 = 125+ jobs Pending: 4 = 1,000+ jobs For 2, losing will cost existing jobs & HQ
- Of 28 planning to expand: 17 said in this community 3 said another state 3 did not know 1 said elsewhere in MN