Mankato economy

[Free Press Editor Joe Spear]

Our top story in Sunday's paper noted how the Mankato economy is doing somewhat better than national trends, but regional counties have unemployment rates that are higher than state and national. http://is.gd/mwZp
Mankato has been insulated by high percentage of health care jobs and state and local government jobs. But recent news points to cuts in both. Is our local economy diverse enough? Thoughts?

[Bob Jentges]

Our top story in Sunday's paper noted how the Mankato economy is doing somewhat better than national trends, but regional counties have unemployment rates that are higher than state and national. http://is.gd/mwZp
Mankato has been insulated by high percentage of health care jobs and state and local government jobs. But recent news points to cuts in both. Is our local economy diverse enough? Thoughts?

Probably not diverse enough.

Remaining a health care hub for South Central Minnesota is important for the continued viability of our locality because it generates retail spending in shopping centers, resturants and other retail businesses by those who come here for medical treatment.

On the otherhand, if I recall correctly not too long ago I read somewhere that Blue Earth County was amoung the state leaders in per capita government employees. I am not suggesting we cut the number of state and local government jobs/employees. Those that come from out-of-town for government services probably also spend money in other areas of our communities. But excess in anything should always be on the table.

What I am suggesting is that our local leaders do whatever they can to make our cities and counties more desirable for private businesses to locate here, to help with the tax base and provide good paying manufacturing jobs for many of our non-professional residents. The more diverse our economy the better for all who live and work here.

[Dan Conner]

Our top story in Sunday's paper noted how the Mankato economy is doing somewhat better than national trends, but regional counties have unemployment rates that are higher than state and national. http://is.gd/mwZp
Mankato has been insulated by high percentage of health care jobs and state and local government jobs. But recent news points to cuts in both. Is our local economy diverse enough? Thoughts?


I really don't know, but Mankato is blessed having some manufacturing services, education, and agriculture. That is pretty diverse and might be a reason why we are doing better than average. However, we are not done yet with this depression. I think it is going to get a lot worse, before it gets better. In the end, Mankato might not escape at all. Time will tell.

I think it is foolish to invest in business incentives at this time. Business is contracting, not expanding. If the city commits considerable capital to development now, it very well might just sit empty. Instead, I think it is important to see where things settle out. If the Walmart warehouse happens, that will likely further insulate Mankto from this depression for a while. I think giving tax incentives for business to move here is foolish because of such a small probability of financial return.

[Bob Jentges]

For those that may not have read it there is a very good article in The Free Press this morning by Dan Linehan, dealing with thoughts from leaders in the Mankato business community with respect to local challenges during the present "recession", and how they might be addressed.

[Ellen Mrja]

In a pro-Tim Walz blog I stumbled on today (Bluestern Prairie) I found a MnDot list of the
bids for Recovery Act projects in Southern Minnesota. (http://www.bluestemprairie.com/a_bluestem_prairie/) You could double-check this with MnDot, if you wanted to. I think this construction will have some impact on the Mankato economy.