Best State To Raise a Family
(WalletHub, 1st in 2020; 2nd in 2021)
Manufacturers Report Increased Optimism for Business in 2025
10 Feb 2025
News
Most Minnesota manufacturers expect improving or similar business conditions for 2025 compared to last year, according to an annual survey conducted by the Minnesota Department of Employment and Economic Development (DEED) and the Federal Reserve Bank of Minneapolis.
More than 85% of the survey's 232 respondents expect improvements or similar conditions within all the survey's key business and labor force metrics. Companies were especially optimistic about their order volume, production levels, investments in plants and equipment, profitability and productivity.
Most businesses see no change in labor availability in 2025, with 77% expecting the industry's tight labor market to continue. About 70% of respondents anticipate wage increases of at least 3% to attract and retain workers.
More Topics
Designing Beyond the Assembly Line
Feb 10 2025The Detroit factory where Henry Ford first began mass-producing automobiles had a transformative impact not just on the auto industry but on manufacturing and business practices across all industries. However, that factory was singular in purpose—assembling a Model T as quickly and uniformly as possible.Today, while optimal efficiency in production...
During February, CareerForce draws attention to the many opportunities available to high school students to prepare for employment through a combination of classroom instruction and hands on learning.Career and Technical Education (CTE) courses integrate core academic knowledge with technical and occupational knowledge and skills to provide students a pathway to...
Forging Solid Foundations
Feb 3 2025Effective collaboration with local governments is essential for success when planning large industrial developments. These partnerships often determine whether a project moves smoothly through approvals and into operation or encounters delays, budget overruns, and community opposition. For decision-makers overseeing site selection or expansion, building and maintaining strong relationships with local...