Inclusiveness is supposed to be this state's North Star. But the state is at the heart of a national reckoning on race.
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Minnesota Score and Ranking
| Category | 2021 Score | 2021 Rank | 2019 Rank | 2021 Grade |
|---|---|---|---|---|
| Cost of Doing Business | 140 | 42 | 39 | D |
| Infrastructure | 222 | 12 | 9 | B |
| Life & Health | 272 | 4 | -- | A- |
| Workforce | 172 | 29 | 13 | C- |
| Economy | 147 | 18 | 23 | B |
| Business Friendliness | 99 | 28 | 28 | C |
| Access to Capital | 124 | 14 | 17 | B |
| Technology & Innovation | 132 | 4 | 7 | A |
| Education | 107 | 5 | 3 | A- |
| Cost of Living | 32 | 30 | 31 | C- |
| Overall | 1447 | 7 | 7 |
Economic Profile
Governor: Tim Walz, Democrat
Population: 5,657,342
GDP growth (Q1 2021): 7.5%
Unemployment rate (May 2021): 4%
Top corporate tax rate: 9.8%
Top individual income tax rate: 9.85%
Gasoline tax: 30.60 cents/gallon
Bond rating (Moody's/S&P): Aa1, stable/AAA, negative
Major private employers: Mayo Clinic, UnitedHealth Group
Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
