Gov. Walz outlines 10-year economic expansion plan

(ABC 6 News) – Governor Tim Walz announced a ten-year economic expansion plan for Minnesota on Wednesday.

The event took place at Wyoming Machine in Stacy, MN. The Governor’s Council on Economic Expansion today released the 28-page report, titled “Minnesota’s Moment: A Roadmap for Economic Expansion,” which offers long-term steps to continue improving Minnesota’s economy.

Governor Walz launched the fifteen-member Council of business, labor, and community leaders in September of 2021 to help advise Minnesota on the systemic change needed in the public, private, and nonprofit sectors that will achieve a more equitable, inclusive, sustainable, and resilient Minnesota economy.

“We challenged a broad network of Minnesota leaders to look toward Minnesota’s future and find opportunities to make Minnesota a global destination to work, live, and own a business,” said Governor Walz. “The result – dozens of bold new ideas – will guide not only our Administration, but the state’s work for the decade to come. I’m grateful to our council members for their tireless work to create Minnesota’s roadmap for economic expansion.”

The report details dozens of recommendations ranging from ways to expand child care to support working families, collaborate with employers and labor organizations to prepare students for their careers, and expand public-private partnerships to provide support for small business owners. The comprehensive report covers recommendations from public safety, to infrastructure, to health care, to reducing barriers to job creation and innovation.

The Council had two main goals. First, the Council was asked to propose recommendations on how best to leverage American Rescue Plan funding to advance equitable economic growth. That first report was released last fall and helped shape the Governor’s strategy for the 2022 legislative session. Second, the Governor asked the Council to think longer-term and build a roadmap for Minnesota’s economic expansion in the coming decade.

The Council heard from many groups while conducting its work including state, local, and tribal governments, businesses, workers, higher education institutions, nonprofits, and communities that have been disproportionately impacted by historic and modern-day inequitable systems and by the pandemic.

Read the full report HERE.