Minnesota + government = 46
Posted on January 16th, 2009 – 7:40 PMBy Thomas Lee
The Small Business and Entrepreneurship Council’s report on the best states to launch a company ranks Minnesota near the bottom of the list- 46th out of 50 to be precise. The report bases its rankings from a public policy perspective: the more a government taxes and borrows, the less likely new businesses will flourish. In other words, government is not the solution but the problem, the council says.
So from that sense, it’s not entirely surprising that Minnesota, which has a reputation for high taxes, would fare poorly. The state finished near the bottom in categories like capital gains taxes (46th) and corporate income taxes (48th) and dead last in health care mandates (51st.)
To read the entire report, click here.
2 Responses to "Minnesota + government = 46"
And this surprises anyone???? HELLO? HELLO? HELLO McFLY????
This report should be taken with a grain of salt. Taxes and health care mandates are only one portion of the cost of doing business.
The bottom 10 states includes Mass., New York, Minnesota, California and New Jersey. Number 1 is South Dakota, 2 is Nevada and 3 is Wyoming. All nice places, but not exactly business powerhouses on par with New York, California, Mass, Jersey or Minnesota.
A broader question is raised by this peice though - what is “cost of doing business?” Minnesota is often labeled a high cost state, yet historically we had out performed the nation. Recently we have underperformed, which is another topic.
