Study Lauds Minnesota For Innovation in Manufacturing
MESABI, Minn. (AP) – A study on Minnesota’s manufacturing climate gives the state high marks for innovation and productivity and low marks for its tax climate.
Reports say the study was conducted by Ball State University in Muncie, Ind. Economics professor Michael Hicks performed a state-by-state analysis of manufacturing climates.
He says Minnesota ranked well in research-and-development spending per capita and patents per capita. He says the state also has a high-quality labor force.
But he says the state is sixth-worst in corporate and individual taxes, and near the middle in property taxes.
Hicks says high taxes obviously make the state a less attractive for companies looking to relocate. But he says at least the state does a good job of investing that tax revenue in education and infrastructure.