Dear neighbors,
My next water sustainability meeting has been rescheduled to take place on Thursday, July 24. It will be held beginning at 6:00pm at Century College’s East Campus in room 2315.
The meeting is a great opportunity for you to ask questions and hear more about our work to ensure sustainable supplies of water for our region and our entire state. We plan to discuss the Metropolitan Council’s recently released draft feasibility assessment of water supplies in the Northeast Metro.
I also want to let you know that this will be my last legislative update of the year, as state law prohibits elected officials from sending mass email updates after 60 days from adjournment of the legislative session during an election year. If you would like to continue reading regular news and updates, you’ll be able to find them for the rest of the year on my legislative website at www.house.mn/43A.
For my final update, I want to share some positive economic news our state received over the past few weeks as well as information about a recent award I received from the League of Minnesota Cities.
Legislator of Distinction for 2014:
I am very proud to have been named a “Legislator of Distinction” by the League of Minnesota Cities (LMC) for the second year in a row. Here is what LMC had to say about my work this year:
“Thank you for your work with the League to focus state efforts on addressing groundwater supply issues in ways that avoid unintended consequences for city residents and businesses. Furthermore, thank you for working on specific legislation to reinstate the legislative water commission, reduce permit fees on stormwater projects, and improve city representation on groundwater management advisory groups to make water policy implementation better for Minnesota cities.”
Twin Cities metro has lowest unemployment rate in the country:
Thanks to our talented workforce and strong businesses, we recently learned that the Twin Cities metropolitan area has the lowest unemployment rate of any metropolitan area in the country. With our well known reputation as a great state to live, work, raise a family and do business, we can all be proud of our economic growth and status as a national economic leader.
Budget outlook stable and strong:
Minnesota’s budget outlook remains strong due in large part to the legislature balancing our budget without using any gimmicks or shifts. A budget that is structurally balanced into the future (like Minnesota’s) is a strong foundation for economic growth. It’s a refreshing contrast to the perpetual cycle of deficits that hurt our economy before the 2013-2014 session began.
According to the most recent economic report from Minnesota Management and Budget, general fund revenue for Fiscal Year 2014 (which ended on July 1) came in at $168 million more than projected in February 2014. Most of that extra revenue came from income tax receipts, a key metric that shows job creation continues to grow. We also now have $150 million more revenue in our budget reserves, which will help provide a better financial cushion in future economic downturns, protecting vital services and needs like education, health care and infrastructure.
Click here for more analysis from Minnesota Public Radio:
Twin Cities metro area showing sturdy growth:
A new report from economic experts at BMO Harris Bank says that Minnesota’s economy continues to grow at a firm pace. According to the report, the Twin Cities metropolitan area’s sturdy and diverse economy is expected to remain on a solid growth track in the years ahead, due in large part to our region’s wide swatch of service industries.
Todd Senger, Minnesota Regional President of BMO Harris Bank, had this to say:
“Our state and metro area have a lot going for them with our job growth, diversity of industries and the confidence businesses have shown by investing in their operations and people. This report confirms the positive outlook we have seen among businesses and business owners in the last few months, and we fully expect to see the upturn continue as more and more businesses feel the effects of the growth in our area."
Michael Gregory, Head of U.S. Economics for BMO Capital Markets, added:
"The area includes more Fortune 500 companies per capita than any other major metro region in the United States; this diversity helped soften the downturn, with real GDP falling 3.5 percent peak-to-trough on an annual basis versus 4 percent for all metro areas. Many Midwest cities, such as Chicago, St. Louis and Indianapolis, are just now seeing real GDP return to pre-recession levels. Contrast that to Minneapolis-St. Paul where GDP was 5.2 percent above the 2008 high according to the latest available city-level data."
Minnesota ranked second for talent pipeline:
The U.S. Chamber of Commerce recently ranked Minnesota second in the nation for our ‘talent pipeline’ – a key metric of the skills and talents of our workforce.
Here is an excerpt from the Chamber’s report:
“Ranked 2nd for its talent pipeline in this year's report, Minnesota is strengthening workforce skills and economic growth by bringing multiple stakeholders to the table to work in partnership.
The state's Governor's Workforce Development Council (GWDC) brings together leaders from the private, public, and education sectors, along with community leaders, to recommend ways to better align the state's workforce skill development with real-world needs.
The Minnesota Job Skills Partnership, part of the state's Department of Employment and Economic Development (DEED), has also been tasked with leading state efforts to build a more globally competitive workforce. The initiative provides training grants of up to $400,000 to educational institutions throughout the state to build workforce skills training partnerships with private industry.”
The legislature’s investments in education such as all-day Kindergarten, preschool scholarships, more funding for every student and a two-year college tuition freeze are helping to build an even better workforce that can compete with businesses around the globe.
Minnesota ranked third best state to make a living:
Forbes recently ranked Minnesota the third best state to make a living, up from being ranked sixth last year due to our “very low unemployment rate and excellent workplace conditions.”A diverse economy and well-educated workforce are big reasons why our median household income and our quality of life is consistently above the national average.
Minnesota ranked sixth best state for business:
Minnesota is the sixth best state for business in the entire country according to CNBC’s eighth annual “America’s Top State’s for Business.” With last year’s ranking at 13th place, our current ranking shows that we continue to build on our positive economic momentum. The rankings cite Minnesota’s “superior quality of life, a vibrant economy and a robust infrastructure” as a few of the biggest reasons behind our success.
Stay in touch:
Although I cannot send any more mass email updates this year, you can still contact me with any questions, comments or concerns. You can reach me by phone at (651) 296-0171, by email at rep.peter.fischer@house.mn or by postal mail at 421 State Office Building, 100 Rev. Dr. Martin Luther King Jr. Blvd., St. Paul, MN 55155.
Sincerely,
Peter Fischer
State Representative, District 43A