MESABI, Minn. (AP) — A study on Minnesota’s manufacturing climate gives the state high marks for innovation and productivity and low marks for its tax climate.
A Mesabi Daily News report (http://bit.ly/11MciQq ) says the study was conducted by Ball State University in Muncie, Ind. Economics professor Michael Hicks performed a state-by-state analysis of manufacturing climates.
He says Minnesota ranked well in research-and-development spending per capita and patents per capita. He says the state also has a high-quality labor force.
But he says the state is sixth-worst in corporate and individual taxes, and near the middle in property taxes.
Hicks says high taxes obviously make the state a less attractive for companies looking to relocate. But he says at least the state does a good job of investing that tax revenue in education and infrastructure.
Information from: Mesabi Daily News, http://www.virginiamn.com