Minnesota named 'Best-Run State in the Nation' in new study
14 Dec 2017
Advanced Manufacturing, Ag and Forest, Data Center, Mining
Minnesota is the best-run state in the nation, according to a new study from USA Today that cites Minnesota’s strong fiscal management, low unemployment and poverty rates, above-average median household income, and the state’s nearly perfect credit rating. Since ranking tenth in 2012, Minnesota has consistently climbed in the rankings under the same study, including ranking second last year.
“Our administration has worked hard to make state government work better for the people of Minnesota – and we are not done yet,” Gov. Dayton said. “Next session, I will urge the Legislature to work with me to protect the long-term fiscal stability of our state, which is essential for Minnesota’s future. Working together, I know we can deliver even better services, and better value, for the people of Minnesota.”
The study notes that Minnesota’s strong economy and sound fiscal management have allowed the state to save more – approximately ten percent of our annual budget – which is more than most other individual states, and above the average of all states’ savings, which is eight percent. The study also cites Minnesota’s near-perfect credit rating from Moody’s, and our currently stable long-term outlook.
The study also cites Minnesota’s low unemployment and poverty rates. Minnesota’s unemployment rate has been at or below 4 percent for 40-straight months, and recently hit 3.3 percent, the lowest it has been since 2000.