Minnesota's economy grew 25% faster than the U.S. economy between 1990 and 1999. It was ranked 11th in per capita income in 1999, up from 14th in 1995.

Minnesota's annual average unemployment rate was the 16th lowest in the nation. It was also ranked the "Most Livable State" from 1997 to 2002 and the 2nd "Healthiest State" in 2001 and 2002 by Morgan Quitno Press.

For six of the past seven years, the Corporation for Enterprise Development has placed Minnesota on the Honor Roll of its Development Report Card for the state, a publication that assesses each state's economy and potential for future growth based on more than 70 state measures.

Minnesota truckload shipments can reach most U.S. destinations in three days or less. In addition, Minnesota has four major Great Lakes ports, the largest rail port this side of the Rocky Mountains is in Koochiching County and a river system that consists of 231 miles of navigable waterways

Due to the use of all major forms of fuel to meet its electrical needs, commercial electric prices are 15% below the national average, and commercial natural gas rates are 7% below that of other state.

Minnesota's workers' compensation cost has been progressively declining since 1992, and was ranked 13th lowest out of 45 states in 2000.

The Department of Trade and Economic Development (DTED) can provide up to $500,000 for companies adding jobs to Minnesota. The Investment Fund is channeled through the city in which the company locates and the city and the company collaborates on applying to the state for financing. Virtually all types of businesses are eligible, excluding retail enterprises. Criteria of the program center around the number of new jobs and the specific salary levels the company will commit to over a two-year period, the size of the overall capital investment, the demographics of the city in which the company would be located, and the size of any other applications that the state may be pending from that city.

The Rural Challenge Grant Program provides low interest fixed asset and working capital financing of up to $100,000 for companies located outside the seven-county Twin Cities Metro Area.

The Tourism Loan Program provides low-interest loans of up to 50% of the project to tourism-related businesses to upgrade or develop new facilities.

The state of Minnesota is able to provide tax-exempt financing (IDB's) for construction projects that meet qualifying standards under federal law. DTED has its own program (known as the Small Business Development Loan Program) but individual cities can also issue tax exempt financing on their own. Financing typically is in the range of $1-4 million, and cannot exceed $10 million in total investment.

This is a customized training program, through which corporation's specific training can be met by a collaborative effort with an educational institution. State funds are provided to the institution to develop and deliver the training, which can be tailored to the company's training requirements. Under this program there is a maximum of $400,000 that can be provided for any one project. The Hire Education Loan Program (HELP) provides up to $250,000 in short-term, no interest loans directly to businesses for training new or existing employees.

All capital equipment used in manufacturing is exempt from sales tax in Minnesota. In addition, food and clothing are exempt from sales tax. Minnesota is one of the few states that exempt inventory, machinery and equipment from commercial and industrial property taxes. There is also no tax on personal property, benefiting equipment-intensive businesses.

State taxable income is calculated by an apportionment formula. Minnesota's apportionment formula weighs sales at 70 percent, and payroll and property at 15 percent each. As a result, businesses with a small proportion of sales within Minnesota may have a significantly lower effective corporate income tax rate than similar businesses in other states. Minnesota allows a corporate income tax credit for research and development expenses. The credit can be carried forward up to 15 years.

In June of this year, Governor Ventura signed a bill that provides for a net 10% reduction in business property taxes. This bill not only reduces the burden by 10%, but also compresses the classification rates and provides for the likelihood that future property tax increases will be smaller. This is one of the most significant tax reform measures passed in Minnesota in many years and is expected to make it more attractive for businesses to expand and locate themselves in the state.

Unlike many other states, Minnesota state law does not allow local governments to impose additional income or payroll taxes on businesses.