The principal credit for Minnesota’s terrific budget forecast belongs to the people of Minnesota. We proved again that we have the best business innovators and the most productive workers anywhere. By working hard and working together, we turned a $6 billion deficit predicted just 3 years ago, into a projected surplus of $1.086 billion over the next 18 months.
The financial experts, who prepared this forecast, made it clear that these surpluses are being generated by our state’s exceptionally strong economic growth. Minnesota’s economic recovery leads most states and the nation. 122,000 more people are working in Minnesota today than when I became governor in January 2011. The growth in our total state economy last year was the 5th best in the nation.