Minnesota Manufacturing Expansion is a Double-edged Sword

Read original article: Manufacturing expansions in Minnesota are booming, creating jobs

Of course we feel warm and fuzzy reading statements like: “State officials estimate that 112 construction projects worth $800 million were underway recently;” “We have an unemployment rate of just 4.6 percent;” and “The overwhelming factor that makes companies choose Minnesota is our well-educated and qualified workforce and our diverse and improving economy.”

The troubling truth, however, is that the expanding companies are multimillion dollar corporations who choose MN because our government gives them forgivable loans, state tax-increment finance agreements and one company even got a $4.9 million tax incentive package.

Why not give, at least some, of that state money to the smaller businesses who are the backbone of our economy? How much better would our employment rate be if we diversified our incentives instead of lumping them into these huge sums for already prosperous corporate giants.

Don’t get me wrong; it’s a good thing we’ve got forward movement economically. But I don’t like to see this happen as a backhanded slap at our small businesses.

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