Minnesota's economy one of the fastest growing in the nation
|Image by Tatiana Craine|
|Minnesota's economy: So hot right now.|
MEANWHILE: Wisconsin lost more jobs than any other state in 2011 and '12
And now comes news that Minnesota's economy grew at one of the fastest paces in all of America last year.
"The U.S. Commerce Department bureau said Minnesota tied California for fifth place in growth of gross domestic product (GDP) last year, based on data for durable-goods manufacturing, construction, mining, agriculture, wholesale trade, and finance and insurance," a press release from the state says.
GDP here last year grew by 3.5 percent compared to 2011, which is a full percentage point above than the national average of 2.5 percent. With a total GDP of $253 billion, our economy clocked in as the 17th largest in the country.
Above us in the fastest-growing-economies list are first-place North Dakota (13.4 percent), followed by Texas (4.8 percent), Oregon (3.9 percent), and Washington (3.6 percent). GDP in Wisconsin and Iowa grew by 1.5 percent last year, while South Dakota experienced anemic 0.2 percent growth.
If the good economic news keeps rolling in at this rate, by the time my generation is getting ready to retire money will simply be growing on our birch trees.
-- Follow Aaron Rupar on Twitter at @atrupar. Got a tip? Drop him a line at email@example.com.