Minnesota Chamber unveils growth plan as report shows GDP, tech, innovation lag
At an Economic Summit in Eagan, the Minnesota Chamber released its 2026 Business Benchmarks report and unveiled an "Economic Imperative for Growth" multiyear campaign to unite lawmakers and business leaders after finding the state's economy has fallen behind on nearly every measure of growth. The report cites about 1% per‑capita GDP growth versus 1.8% nationally, a slide in state rankings into the 30s (as low as 38th since 2019), weak tech job growth (44th in 2024), high patents per capita but poor patent growth, and warns employers that taxes, regulations and new mandates — including a paid family and medical leave program starting Jan. 1 — are deepening competitiveness concerns.
📌 Key Facts
- The Minnesota Chamber released its 2026 Business Benchmarks report Nov. 19 at the Economic Summit in Eagan; the report was discussed at a Chamber economic forum there and is paired with a new 'Economic Imperative for Growth' initiative and a planned multiyear campaign to bring lawmakers and business leaders together to address the findings.
- Minnesota’s GDP per‑capita growth is sluggish—roughly 1% (about 1% annually over the past decade and 1% since 2019), below the 1.8% national rate—and state rankings have slipped (reported as falling from 18th in 2007–2019 to 33rd for 2019–2024, with a separate figure of 38th since 2019 in another report).
- The Chamber’s report shows weak tech-sector performance: Minnesota ranked 44th in tech job growth in 2024, and Chamber staff (Sean O’Neil) linked the state’s slower post‑pandemic GDP rebound to lagging tech growth (a point discussed with Rep. Matt Norris).
- On innovation, Minnesota ranks high in patents per capita (5th) but poorly for patent growth over the past decade (47th), indicating limited recent expansion in patenting activity.
- Business leaders and Chamber officials say employers are worried about taxes, regulations and new mandates; Doug Loon specifically cited concerns around recent policy changes and noted Minnesota’s new paid family and medical leave program begins Jan. 1 (12 weeks family + 12 weeks medical, capped at 20 weeks), with initial program costs funded by $668 million from the 2023 surplus.
- Corporate leaders expressed concern about finding a path forward: Anderson Corporation CEO Chris Galvin said it’s 'hard to find the path forward' and described company plants where 20–30 languages are now spoken as the workforce broadens.
📰 Sources (3)
Migration, tax and affordability issues plague Minnesota economy, business leaders say
New information:
- Chamber’s 2026 Business Benchmarks report released Nov. 19 at the Economic Summit in Eagan and paired with a new 'Economic Imperative for Growth' initiative.
- Minnesota’s per‑capita GDP grew about 1% annually over the past decade vs. 1.8% nationally; state rank fell from 18th (2007–2019) to 33rd (2019–2024).
- Minnesota ranked 44th in tech job growth in 2024, per the Chamber’s report.
- Innovation trend: Minnesota is 5th in patents per capita but 47th for patent growth over the past decade.
- Doug Loon warned employers are concerned about taxes, regulations and new mandates; cited paid family and medical leave starting Jan. 1 (12 weeks family + 12 weeks medical, capped at 20 weeks; initial program costs funded with $668M from the 2023 surplus).
- Sean O’Neil linked Minnesota’s slower GDP rebound post‑pandemic to lagging tech sector growth; exchange with Rep. Matt Norris (Blaine/Lexington) noted.
Minnesota’s economy falling behind, report finds
New information:
- Minnesota Chamber says it will launch a multiyear campaign to bring together lawmakers and business leaders to address the report’s concerns.
- Additional metric: Minnesota’s GDP per-capita has grown 1% since 2019, ranking 38th among states.
- Quote/context: Anderson Corporation CEO Chris Galvin said it’s 'hard to find the path forward' and described plants with 20–30 languages as the company broadens its workforce.
- Event detail: Findings discussed at a Chamber economic forum in Eagan on Wednesday.