Conversations about Minnesota’s economy are surprisingly fuzzy. Ask five people where things stand, and you’ll get five different answers.

That’s why I created the Economic Engine Scorecard to give us a clear benchmark and a structured starting point for a more informed conversation about where Minnesota truly stands.

How the Economic Engine Scorecard Works

This report is built around a simple idea: if we want to understand how Minnesota is performing, we need to measure it against relevant peers using consistent metrics.

The Economic Engine Scorecard compares Minnesota to four peer states — Colorado, North Carolina, Missouri, and Michigan — across 20 quantitative indicators. These states were selected because they represent a mix of comparable population size, regional competition, industrial composition, and growth trajectories.

What the Scorecard Measures

The 20 metrics are grouped into six pillars:

  • Output & Momentum — Is the economy growing?
  • Business Base & Dynamism — How deep and active is the company base?
  • Innovation & Capital — Is new enterprise being formed and funded?
  • Talent & Workforce — Does the state have the human capital to grow?
  • Education & Research Capacity — Is there long-term innovation infrastructure?
  • Economic Diversification & Resilience — How concentrated or shock-sensitive is the economy?
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Each metric is scored 1–5 based on rank within the peer set:
5 = best among the five states on that metric
1 = worst among the five states on that metric

All metrics are weighted equally. With 20 metrics, the maximum possible score is 100 points.

Overall results

Total Economic Engine Score (max = 100):