WASHINGTON – Hours before President Obama used his State of the Union speech to lay plans to narrow income inequality, Minneapolis Mayor Betsy Hodges took to a smaller stage in the nation's capital to say how she hopes to level the socioeconomic playing field in the city.
Speaking at the City Makers Summit, Hodges touted her nascent efforts to address the yawning gap between minorities and whites.
Minneapolis can't have growth without equity, the mayor stressed to a small group representing a variety of businesses, nonprofits and government agencies.
"Minneapolis and St. Paul will be majority minority by 2040 or 2050," Hodges said. "If we don't address income equality, we will leave $25 billion to $30 billion [in good-paying jobs] on the table. There's something in this for everyone."
Hodges said Minnesota has "always punched above its weight" in business, pointing to the 19 Fortune 500 corporations headquartered in the state.
But she warned that not giving sufficient job training to the growing minority population threatens to "dry up our pipeline of talent," which attracted big companies to base operations in Minnesota.
In an interview with the Star Tribune after her presentation, Hodges cited the Itasca Project, a group of Twin Cities CEOs who meet with politicians to discuss ways to keep the region's economic and financial health on an even keel.
"They know what's coming down the pike, and they want to continue having the success they've been having," Hodges said.