Beer ? craft beer, that is ? actually plays a role in an area?s economic vibrancy.
That was one of many trends that Finance and Commerce?s Cost of Doing Business noted in 2012.
Quality of life, including access to well-crafted suds, encourages more talented people to live and work in Minnesota, and helps mitigate business-related fees and taxes that certainly are not the lowest in the country.
It makes sense, then, that 14 of the 20 high income areas listed by the U.S. Census Bureau?s 2010 American Community Survey were also on a Scarborough Research list of the top 20 local markets for microbrew drinkers. And Minneapolis-St. Paul was one of the areas that made both lists.
The role quality of life plays in supporting businesses is but one of a number of themes that Cost of Doing Business has returned to since it started a year and half ago.
In case you haven?t been keeping track, here are summaries of some of the top blog posts from 2012:
Beer equals economic growth
Smart, gifted people can pretty much live anywhere in the world they want to, so communities need to care about quality of life if they want to be successful. That means access to good schools, low crime, great restaurant and entertainment options, professional sports teams, theaters, museums, etc. The list could go on and on. But it seems quality, locally produced beer should be on there, too.
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How businesses learned to stop worrying and love government
For two years, the state Legislature gave local governments more leeway than usual when it came to spending property tax dollars on private development. From 2010 to 2012, a wide range of businesses took advantage, with $35.9 million going to building projects that were worth at least $510.6 million. As much as business owners complain about government regulations and taxes, I wonder how many jump at the chance to get a sweet deal from government when it becomes available.
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Minnesota less business-friendly on property taxes
The Minnesota Taxpayers Association and the Cambridge, Mass.-based Lincoln Institute of Land Policy produce an annual 50-state property tax comparison study. Look at the study for the 2010 tax year and then compare with 2011. Minnesota rose in the rankings when it came to the taxes that a commercial property owner paid in a typical urban area or a typical rural area.
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Is innovation always good?
The nonprofit Stateline news reported on a University of Iowa study that found Minnesota among the states with the highest ?state policy innovation rate? from 1912 to 2009. The study included more liberal measures such as bottle deposit laws, and more conservative measures such as gay marriage bans. Some ?innovative? measures certainly lead to regrets. Nevertheless, wouldn?t Minnesota?s reputation as a forward-thinking state help out its companies as they do business?
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Minnesota ranks poorly on workers? compensation costs
High workers? compensation costs are a common complaint among Minnesota businesses ? a complaint born out in an annual state-by-state comparison of workers? compensation insurance rates conducted by the Oregon Department of Consumer and Business Services. The Oregon study found that Minnesota employers paid $2.27 per $100 of payroll for workers? compensation in 2010 ? the 16th highest rate among the states, up from 24th in 2008.
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Restaurant licensing and inspection fees vary greatly across Minnesota
Where a restaurant is located matters a lot when it comes to licensing and inspection fees in Minnesota, according to a Minnesota Restaurant Association study. The association found a small ma and pa restaurant in Minneapolis would have paid $945 in fees in 2011, versus $635 in Anoka County or $474 in Ramsey County.
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Report: Telecommuting pays off for everyone
Minnesota is ahead of many other states when it comes to promoting telecommuting, and both employers and their workers are benefitting from the practice, according to a report from the public-private partnership Connect Minnesota. Through telephone surveys conducted in 2011, Connect Minnesota found that 22 percent of Minnesota adults who are employed full-time or part-time work from home at least some of the time. Nearly a quarter of Minnesota telecommuters do it every day.
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The stated goal of the blog since its start has been to examine the big and not-so-big expenses that businesses face in Minnesota and how they manage them.
As 2012 ends, I?m contemplating where I should take the blog in the coming year. So please share thoughts or ideas. What would you like me to investigate or delve into? What would actually be helpful to business owners?
Have an idea about a business cost that I should investigate? Call me at (612) 584-1546, or email me at chris.newmarker@finance-commerce.com. I?m also on Twitter @newmarker.
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Source: http://finance-commerce.com/bizcost/2012/12/cot-of-doing-business-greatest-hits-2012-edition/
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