Dear Neighbor,
This is National Future Farmers of America Week and, before we get into legislative business, I would like to take a moment to salute our local chapters: Albany-Avon, Brooten-Belgrade-Elrosa, Melrose, Sauk Centre, Minnewaska and Alexandria. These are great programs in an organization that does a nice job teaching leadership, communication skills and beyond in the ag world. The ag industry is challenging and it is good to see young students build a solid foundation for themselves with the lessons learned in FFA.
As for news from St. Paul, Minnesota Management & Budget issued a new state economic forecast today and it projects a $1.6 billion surplus for the 2022-23 budget cycle. Quite a sharp turnaround from the $1.3 billion shortfall projected in December for the same period.
This is good news, especially light of the dire projection for our state’s economy that was issued last May. It certainly will relieve some pressure as we work to balance the budget this session.
We need to work on getting our state going again because people are still hurting financially after either being put out of work or seeing their paychecks shrink in recent months. Families and businesses already have sacrificed so much over the past year. Adding tax increases to their burden would be unnecessary and unhelpful, so I hope those talks are put to rest for this session.
MMB said the turnaround is due, in large part, to an improved U.S. economic outlook that is bolstered by large federal actions that have emerged since November and were not incorporated in earlier projections. The projected surplus also is related to a higher revenue forecast, lower state spending, and an increased surplus for the current fiscal year.
On a final note, congratulations to the city of Sauk Centre for recently earning a $1.3 million Greater Minnesota Business Development Public Infrastructure Program Grant. This funding will provide the necessary resource for continued economic growth and enhance employment in Sauk Centre and the surrounding area. The Minnesota Department of Employment and Economic Development awarded the grant. Congratulations to everyone from Sauk Centre involved in making this successful request for funding, and to the local workers and residents who will benefit.
Sincerely,
Paul