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Strong growth in physicians licensed in Minnesota

The Federation of State Medical Boards released their latest biennial report on the number of doctors licensed to practice medicine in American in 2016.  Assuming having more doctors is a good thing, then Minnesota is doing better. The number of doctors licensed in Minnesota increased from 20,174 in 2012 to 23,494 in 2016.  This represents a 16.5 percent increase, a substantial jump in just four years.  This was the eleventh highest rate of change in the country.  States with stronger growth are all either Mountain states (Colorado, Montana, Wyoming, Utah) or strung down the east coast (New Hampshire, Rhode Island, D.C.,...

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Report shows Minnesota’s estate tax burden is among the highest in the country

Minnesota is one of 18 states and the District of Columbia that levy either an estate or inheritance tax, often called death taxes.  Among these states, a new report by the Tax Foundation shows Minnesota imposes the sixth most burdensome death tax in the country, making Minnesota a real outlier. Comparing state estate and inheritance taxes is complicated because there are so many variations in how these taxes are levied.  To help compare states, the Tax Foundation calculated the effective estate tax rate each state applies to four different values of estates—$2.5 million, $5 million, $10 million, and $20 million.   The...

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Revolutionary new tool helps employers find skilled workers

Finding workers for hard-to-fill skilled jobs is one of the toughest challenges that Minnesota’s small- to medium-sized employers face. Fortunately, a revolutionary new on-line search tool—the RealTime Talent Exchange—now gives them the kind of reach and sophistication they can otherwise only dream of. For these employers, the Exchange is like having their own top-dollar, Fortune 500-style human resources department. And it’s remarkably affordable: $39 for regular job postings and $19 for internships. RealTime Talent, which operates the Exchange, is a public-private collaboration formed in 2015 out of work started by the business advisory group Itasca Project. RealTime Talent’s goal is to increase...

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Tapani Sisters of Wyoming Machine show the way on closing the skills gap

Up in Stacy, Minnesota, the Tapani sisters—Lori and Traci—are blazing a trail in workforce development. The two are the co-owners and co-presidents of Wyoming Machine. This spring, the Tapanis won the National Association of Workforce Boards’ (NAWB) prestigious business leadership award in Washington, D.C., for their work in developing the workforce and economy of Washington County and other Minnesota communities. They were in remarkable company. The other company so honored was national behemoth Lockheed Martin. The award honored the Tapanis for their “ardent commitment” to training and enhancing workforce skills in manufacturing. According to the Star Tribune, In nominating the sisters, Washington County workforce...

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Businesses seeking older skilled workers to fill gap

The urgent need for skilled workers is one of the greatest challenges that businesses in fields like manufacturing, construction and energy face. One new pool they are increasingly tapping is older workers—headed for retirement—in their own shops. These individuals’ talent and deep institutional knowledge may be the key to a company’s continued profitability. Today, 19 percent of manufacturing employers are seeking to attract older employees to some sort of phased retirement—up from 6 percent just four years ago, according to the Society for Human Resources Management. But how to do this, especially in fields with physical demands that might challenge older workers? The...

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