Walz presents a long-term economic plan | News, Sports, Employment

St. PAUL – Governor Tim Walz last week announced a ten-year economic expansion plan at Wyoming Machine in Stacy, Minn., following the release of a report from the Governor’s Council on Economic Expansion titled “Minnesota’s Moment: A Roadmap to Economic Expansion.”

The report makes dozens of recommendations that fall within five cores “commitments” to economic growth in Minnesota:

1. Commit to people, as Minnesota’s number one strength and key to a prosperous future.

2. Commit to communities, as a nexus of growth and opportunity.

3. Commit to companies, as the engine that will write the next chapter of the global economy.

4. Commit to innovation, as a central dynamic necessary to adapt to a constantly changing economic landscape.

5. Bet on infrastructure, as the foundation of all economic progress.

“We challenged a broad network of Minnesota leaders to look to Minnesota’s future and find opportunities to make Minnesota a global destination to work, live and do business.” Walz said. “The result—dozens of bold new ideas—will guide not only our administration, but the work of the state for the next decade. I am grateful to our board members for their tireless work to create Minnesota’s road map for economic expansion”.

The report details dozens of recommendations, ranging from ways to expand child care to support working families, partner with employers and labor organizations to prepare students for their careers, and expand public partnerships -private to support small business owners. The comprehensive report covers recommendations from public safety, infrastructure, health care, and reducing barriers to job creation and innovation.

The council is co-chaired by Jeff Ettinger, former Hormel CEO and candidate for the 1st Congressional District, and Paul Williams, CEO and president of Project for Pride in Living.

The Council had two main objectives: First, the Council was asked to come up with recommendations on how best to leverage funding from the American Rescue Plan to advance equitable economic growth. Second, the governor called for a road map for Minnesota’s economic expansion in the next decade.

“I am excited for this council to offer recommendations aimed at supporting a brighter and more inclusive economic future for all Minnesotans,” Ettinger said.

“We know the impact of the pandemic has fallen particularly hard on communities of color and Minnesotans who face systemic barriers,” Williams said.

The Council heard from communities that have been disproportionately affected by historic and modern inequitable systems and by the pandemic.

“Our economy has faced disruption over the past three years, but Minnesota has a great opportunity to seize this moment to create an economy that works for everyone.” said DEED Commissioner Steve Grove. “We thank this extraordinary group of leaders for sharing their time and expertise to advise our state, and I am inspired by the report they presented today.”

“Labor shortages and other economic pressures have created significant challenges for the human services system,” said Department of Human Services Commissioner Jodi Harpstead. “The roadmap established by Council will help ensure access to affordable housing, health care and other critical resources so that all Minnesotans can reach their full health potential and participate in economic expansion.”

Living through a global pandemic presented unique challenges for all Minnesotans, said Department of Labor and Industry Commissioner Roslyn Robertson.

“It was a priority for the council that many voices were heard and that our economic expansion plans included a continued commitment to keeping our workforce safe and healthy.”

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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!