Like most Minnesotans, we are proud of our state and all that makes it one of the best places in America to live, work and raise a family.
At the same time, we are deeply concerned that Minnesota is falling woefully behind in its ability to deliver the talented workforce and innovation that are key to economic vitality and quality of life.
Minnesota must regain its competitive edge. We urge our new governor, new Legislature and new higher education leaders to work together to avert a looming crisis.
The talent crisis
Minnesota's workforce has long been among the state's competitive advantages. But talent development has not kept pace with the demands of the global economy. The number one challenge facing businesses of every size, sector and region is the shortage of skilled talent needed to fill Minnesota's 142,000 open positions.
This talent shortage threatens productivity and the creation, attraction and growth of businesses. We must act to counter several ominous trends:
• As businesses struggle to replace nearly 1 million baby boomers who are retiring, Minnesota's population growth will fall to a historic low.
• The number of high school graduates has declined, and nearly one-third of those who do graduate do not go on to college the following fall. Of those who attend college, fully one-fifth leave the state to do so — outnumbering students who come to Minnesota from other states. Many who leave will never return.