Minnesota’s Economic News – W/E 1/15/21

A round-up of the last week’s economic news stories in Minnesota.

Covid-19 restrictions greatly impacted bars and restaurants in the third quarter

New survey results indicate businesses in the hospitality industry faced a massive decline in revenue and customer traffic due to Covid-19 restrictions in the fall. Bars and restaurants were the most heavily affected.

‘COVID Hypocrisy’: Map tracks officials who violate their own coronavirus restrictions

The Heritage Foundation has recently published an interactive map that tracks officials across the country who violate their own coronavirus restrictions. Minnesota Governor Tim Walz and Minneapolis Mayor Jacob Frey made the list.

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Sad News: Closure Dates Announced for Boswell Power Plant

Earlier this week, Minnesota Power announced the utility would be “coal-free” by 2035 by shutting down Unit 3 of the Boswell Energy Center in 2030 and converting Unit 4 to another fuel that is not yet specified in 2035. As we detailed in our Spring 2020 issue of Thinking Minnesota, Boswell is the backbone of the Iron Range economy. It provides the electricity needed for Minnesota’s iron mines and paper mills to run smoothly. It would presumably be the source of electricity for the PolyMet mine should it ever emerge from legal purgatory. In my opinion, the national security implications of...

Hundreds Report Problems Over Gov. Walz’s Mask Mandate for Youth Sports

Youth sports participants were allowed to return to practice last week under Gov. Walz's latest executive order allowing practices and games. But the results of an online survey of parents and participants by the group Let Them Play MN showed hundreds of participants experienced problem due to protective masks.

Minnesota’s Covid-19 ICU hospitalizations are down 66% from their December peak

Covid-19 non-ICU hospitalizations are also down, 62% from their late November peak.

Minnesota’s high level of tax burden

The reality is that on average Minnesotan's shoulder a higher tax burden compared to other states.