Paul Thissen: Innovation in Action

Economy: The Vision and the Details en español

The Vision:

Minnesota’s economy is not working for too many of us. We need to refocus on the economic security of families, not just the corporate bottom line, when we set our economic course.

The Details:

As the entire nation labors to return to economic prosperity, Minnesota is presented with an incredible opportunity to become a global leader in the rapidly developing, 21st century global economy.

This requires a governor with a broad economic vision and a confident optimism about our state’s ability to rebuild and grow.  Instead of fixating over tax rates, we should proudly extol the virtues of Minnesota: our educated workforce, our nationally recognized hospitals and clinics, our relatively low cost of living.  Fundamentally changing the way we present our state to businesses will go a long way towards attracting the growing and successful companies needed to provide all Minnesotans with livable-wage employment.

Short-term Actions:

Politicians need to be humble enough to recognize that certain aspects of the economy are out of the reach of immediate government action. But there are tangible things the State can do to help the economy recover. Minnesota’s long-established entrepreneurial energy must be valued as the centerpiece of any statewide economic plan. Investments through the bonding bill, transportation appropriation, and Legacy amendment projects can create jobs across the state. That is a win-win situation. We can also expedite our entrepreneurial spirits by loosening up credit for small and new businesses and allowing them to make critical capital investments.

Long-term Vision:

Minnesota has always been known as a high-education, high-innovation state, tolerant of difference and supportive of new research and development in science and technology.  We must continue to cultivate a highly educated workforce and build communities that attract growing businesses through investment in our infrastructure.

Here are some of the tangible economic initiatives I will promote as Governor:

Create Green Communities with Green Jobs

Minnesota is already a nation-wide leader in regards to renewable energy. Investing in windmills and solar energy, however, cannot just be a top-down enterprise. C-BED (Community based environmental development) legislation is already working to disburse the stakeholders in green investments. In addition, we need to create legislative incentives for utility companies to purchase from locally owned renewable energy producers. The Energy and Environment section of this website lays out more details on this issue.

Invest Locally

New methods of business credit and funding, including regional investment pools must be examined as we attempt to help successful small local business grow into successful medium-sized regional businesses.  We need to reverse the policies that lead locally owned businesses to be sold to out-of-state companies or private equity firms.  By helping ownership remain in the hands of Minnesotans, we not only secure jobs for our community, but we can increase the money that circulates through other community businesses.

Build on Our Strengths

Minnesota has a long history of economic innovation.  Once at the head of the milling and agricultural industry, Minnesota is now a leader in the medical device and bio-fuel industries.  In the future we must remember our many geographic and structural advantages and build partnerships with the private sector in the industries we our uniquely suited to advance.

Lower Health Care Costs

The ever rising cost of healthcare has been devastating to both small business owners and large corporations alike.  Our next Governor must understand the intricacies of our health care system and work tirelessly to easy the incredible burden healthcare has put on employers.  The healthcare section of this website lays out my accomplishments as Chair of the House Health and Human Services Committee and my vision for fixing Minnesota’s health care system.