| The Bureau of Economic Analysis estimates
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| | Energy use and production A fair amount
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| that Minnesota's total state product in
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| | of ethanol alcohol fuel is produced in
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| 2003 was $211 billion. Per capita
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| | the state, and a 10% mix of ethanol into
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| personal income in 2004 was $34,861, 8th
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| | consumer gasoline has been mandated since
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| in the nation. The average household
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| | 1997 (as of January 2006, Minnesota is
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| income in 1999 was approximately $48,000,
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| | the only U.S. state with such a mandate).
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| ranking eighth in the nation (U.S.
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| | 20% ethanol will be mandated in 2013. A
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| Census Bureau). The county averages range
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| | 2% biodiesel blend has also been required
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| from $17,369 (Todd County) to $42,313
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| | in diesel fuel since 2005. Many farmers
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| (Hennepin County, a portion of the Metro
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| | also now operate wind turbines to produce
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| area). In general, salaries are lowest in
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| | electricity, particularly in the windy
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| more rural areas, particularly in the
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| | southwest region. As of January 2005, the
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| northwest portion of the state.
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| | state is the country's fourth-largest
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| The state is a major food producer for
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| | wind energy producer after California,
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| the country and has a number of natural
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| | Texas, and Iowa, with 615 megawatts
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| resources that have been greatly
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| | installed and an additional 213 MW
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| exploited in the last two centuries.
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| | planned.
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| Major industries and products The Twin
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| | Like many Midwestern states, Minnesota is
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| Cities are home to a diverse range of
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| | heavily dependent on natural gas for home
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| major businesses, including Cargill, 3M
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| | heating. Just over two-thirds of homes
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| Co. (formerly Minnesota Mining and
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| | use the fuel. The state does not produce
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| Manufacturing Co.), Northwest Airlines,
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| | any petroleum of its own but boasts the
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| Target Corporation, U.S.
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| | largest oil refinery of any
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| Bancorp, TCF Financial Corporation and
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| | non-oil-producing state, the Pine Bend
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| TCF Bank, Medtronic, Ecolab, Best Buy,
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| | Refinery. One of the longest pipelines in
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| Cray Computers, Imation, International
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| | the world, the Lakehead Pipeline, also
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| Dairy Queen, Regis Corporation, General
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| | traverses northern Minnesota. Most of the
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| Mills, Polaris Industries and a regional
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| | petroleum used in the state comes from
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| headquarters of Wells Fargo & Co.,
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| | Canada and the northwestern United
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| Caterpillar Inc., Honeywell, and Thrivent
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| | States.
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| Financial for Lutherans (the merged
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| | State taxes Minnesota has 3 brackets of
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| entity of the former Aid Association for
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| | income tax rates, ranging from 5.35
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| Lutherans and Lutheran Brotherhood). The
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| | percent to 7.85 percent. The sales tax in
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| city of Rochester is the headquarters of
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| | Minnesota for most items is 6.5 percent.
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| the Mayo Clinic, and has a significant
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| | The state does not charge sales tax on
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| manufacturing presence in International
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| | clothing, services (massages, haircuts,
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| Business Machines. The largest shopping
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| | auto work, and the like), or food items
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| mall in the United States, the Mall of
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| | for home consumption, excluding some
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| America, is located in Bloomington. The
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| | specific items such as candy or soft
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| Schwan Food Company, headquartered in
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| | drinks.
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| Marshall, Minnesota, is one of the
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| | According to state law, "Candy does not
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| largest, branded frozen-food companies in
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| | include any preparation containing flour
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| the United States and the second-largest
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| | and must require no refrigeration." (Minn
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| privately held corporation in Minnesota.
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| | Stat 297A.61 Subd 33). The state also
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| Hormel Foods Corporation is headquartered
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| | imposes a use tax on items purchased
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| in Austin, Minnesota, it is a leading
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| | elsewhere but used within Minnesota.
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| producer in meat products.
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| | Minnesota property owners pay property
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| The state has been a major influence in
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| | tax to their county. Three factors that
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| the area of transportation, moving
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| | affect the tax bill are: the amount the
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| products along the Mississippi River, in
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| | local governments spend to provide
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| and out of the inland seaport of Duluth,
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| | services to the community, the estimated
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| along railroads that crisscross the
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| | market value of the property, and the
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| state, via highways with trucking and
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| | classification of the property (how it is
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| busing companies, and through the air
| |
| | used).
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| with a major airline hub. However, water-
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| | Minnesota businesses and individuals paid
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| and rail-borne traffic has been declining
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| | an average of 11.8% of their income in
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| steadily over the years.
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| | state and local taxes in 1998, down from
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| A large proportion of the state's economy
| |
| | 12.7% in 1996 (Minnesota Department of
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| is still agricultural, even though only a
| |
| | Revenue). The Gross State Product was
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| small percentage of the population
| |
| | just under $173 billion in 1999
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| (around 2%) consider themselves to be
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| | (Northeast Midwest Institute), with
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| farmers. Minnesota is a leading US
| |
| | approximately $17.5 billion in exports in
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| producer of sugar beets, soybeans, and
| |
| | 2000.
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| corn. Additionally, northern Minnesota is
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| | Retail sales per capita were $10,260 in
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| a source for iron ore (in the form of
| |
| | 1997, higher than the U.S. average of
|
| taconite) and wood products, though these
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| | $9,190 (U.S. Census Bureau). The "retail
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| are both declining industries. Hibbing is
| |
| | capitol" of the state is probably the
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| the site of one of the world's largest
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| | Twin Cities suburb of Roseville, which
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| open pit mines.
| |
| | recorded $14,870 per capita (though it is
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| The agricultural community is also
| |
| | easily outstripped in total revenue by
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| strongly tied to the renewable energy
| |
| | Minneapolis, St. Paul, Bloomington, and
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| market in the state.
| |
| | Edina).
|
