How do you define a diverse economy?
You wrote:
No doubt true, but I doubt many of them look at the mass exodus of manufacturing jobs as being a positive! Oh well, there's always WalMart greeting, Starbuck Barrista-ing and Ebay sales!
IMHO:
Especially in the Minneapolis area, people say that this area will be protected by its diverse economy.
They may actually mean, home building, mortgage lending/ servicing, property renovation, retail sales (ie. home improvement, furniture..et al), property management, hvac services, plumbing, lumber sales...etc.
Eureka, I think I may have gotten it! Now I'm beginning to understand what a diverse economy may really mean! I feel I should run out into the streets and proclaim the diversity and security of my local economy.
NOT! I have a friend who moved here from Atlanta 1 1/2 years ago and he still does not have a job in Minneapolis! He is quite experienced and technically brilliant BUT he may eventually have to settle for retail or fast food as his reserves are running out. It seems that there are not enough technical positions available in the Minneapolis area for someone with his broad knowledge & experience.
Regarding the Northwest Airlines strike and if they may file for bankruptcy.... FYI, according to the local paper, Northwest occupies @100 out of @120 gates at the largest airport...big presence. I believe I also read on the local paper how one striker is already selling his house to prepare for the worst.
IMHO, the economy here appears as someone on this site referred to as, "smoke & mirrors". There needs to be more investments in capital industries. Unfortunately, it appears that the cost of living (esp. housing costs) & business operations expense in this area is no longer a bargain or a value.
How can one attract business in the Minneapolis area when the surrounding metros in other states (Iowa, Nebraska, North & South Dakota) are comparatively much cheaper to live, work and do business in? Then, there's the US South..where its even cheaper still...the value may even be greater there...
Why pay an employee more in Minnesota when you can open shop in Arkansas, Kentucky or Indiana and pay less? That reminds me, a friend of mine got laid off in Minneapolis and was replaced by 2 technicians in New Orleans. Meaning, what they were paying him (one person), the company was able to get two (2) technicians for the same amount of money in New Orleans, Louisiana.
I know a "proud" Minnesotan may respond by saying, "we have an educated work force, low unemployment & high quality of life, blah, blah, blah". That sounds like an arrogant & self centered, not to mention naive & ignorant statement...
REALITY CHECK: This is NOT the only place like that! Check your rose colored glasses to see if you've got them on first before saying that! Plus, get out more..lol!
Well, I can tell you that other states also claim the same benefits and can back it up too!
Wisconsin, North Dakota, Iowa, South Dakota, Indiana also have high quality of life, low crime, an educated workforce. I know because I've visited these places and they are a value compared to the rest of the country. There are other AND cheaper areas other than Minneapolis area, IMHO.
Why pay more when you can get the same or similar for less? Housing costs are only a fraction of what they are here in some of these states. The unemployment rates in Iowa, North & South Dakota the last time I checked were lower than Minnesota's. Wisconsin's was about the same. Indiana's was a little higher.
I don't remember which paper but there was an article I read that postulated that the next boom region in the US is going to be in the US South, since cost of living (ie. housing, food, etc.) and cost to do business, and wages are still comparatively low compared to the rest of the country. They may just be right...but we'll have to wait and see.
Anyway, just my two cents....
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