Recently, the Initiative Foundation brought together 100 business, financial, higher education and economic development leaders to ask them one simple question: What should central Minnesotans do to strengthen our regional economy and position ourselves for global competition? This is what they told us: o No matter where we live, everyone in central Minnesota benefits by new business start-up and expansion. Businesses bring jobs, tax revenue and investments in communities and other supporting businesses. o Instead of competing with each other, neighboring communities should work together to develop strategies that enlarge the economic “pie” for everyone. o Quality jobs that offer “living wages,” training and benefits are crucial. o High education, government and economic development agencies should work hand-in-hand with existing businesses to create an attractive environment for new ventures, which includes infrastructure, workforce training and financing. These conclusions are straightforward, but very powerful. Central Minnesota leaders understand and value the impact of successful businesses and good jobs across a broad geographic area. New locally-owned businesses mean new homes, new retail and service markets, and oftentimes new supporting businesses that cluster around them. As a member of the statewide Regional Economic Development (RED) Group, the Initiative Foundation is facilitating further discussions about which business development strategies may make the most economic sense for central Minnesota. Early indicators suggest that the focus may be on higher technology related manufacturing and specialized work force development initiatives, both of which hold the promise of quality jobs and future growth. If you would like to join this exciting effort and pull up a chair at future discussions, please don’t hesitate to call us toll-free at (877) 632-9255. But don’t wait too long – good things are happening fast. Sincerely, Kathy Gaalswyk, President of the Initiative Foundation
