On Aug. 13, 2025, hundreds of regional leaders gathered at COMPETE25 to take stock of how our economy is performing and where we must go next. For 10 years, the MSP Regional Indicators Dashboard has given us a shared set of facts about the Minneapolis–St. Paul economy. This year’s Dashboard provided our clearest view yet of the long-term trends shaping our competitiveness.
The story it tells is both encouraging and sobering. We can celebrate real progress on racial inclusion, worker outcomes, and livability. But we must also confront a hard truth: our region’s economic growth and innovation are slowing, and we are losing ground compared to our peers. That reality must galvanize us to act with greater urgency and boldness.
1. Racial Inclusion is Improving
Our region’s story on racial inclusion is beginning to change. The employment rate gap between white workers and workers of color has narrowed from 13% in 2015 to 6% today. The wage gap has also improved, shrinking from 32% to 23% over the same period, and the poverty rate for people of color has been cut nearly in half.
We are moving from the bottom of the pack to the middle among our peer metros. That is not our ultimate goal, but it is measurable progress that reflects years of hard work by many. As was emphasized from the stage: “It is not time to let up on racial inclusion, it is time to double down on effective action to keep the momentum going.”
2. A Good Economy for Workers
Compared to our peer regions, Minneapolis–St. Paul continues to stand out as a strong economy for workers. Amongst our peers, we have the second-highest share of jobs that pay a family-sustaining wage, and our average annual wage is among the top four. Unemployment remains consistently low, and our region leads the nation in including women and foreign-born residents in the workforce.
These numbers remind us that competitiveness is not only about the number of jobs, but about the quality of jobs and who has access to them.
3. Livability Remains a Strength
Housing and infrastructure are areas where many metros struggle, but our region retains important advantages. Apartment rents are rising more slowly here than in most peer metros, homeownership remains attainable for middle-class families, and we spend less time commuting than nearly anywhere else in the country. With 89% of residents living within a 10-minute walk of a park, we continue to lead on access to green space.
These strengths reinforce the idea that competitiveness is about more than traditional economic measures like job or GDP growth - quality of life matters immensely to attracting and retaining workers.
4. Growth and Innovation are Slowing
Here is the headline that demands our urgent attention: economic growth and innovation in our region have slowed. Our GDP growth rate has fallen below 2%, ranking ninth among peers. Job growth ranks 11th out of 12. Net migration of 25- to 34-year-olds—critical to future talent pipelines—places us tenth. Venture capital, startup growth, and patents all trail our competitors.
As one speaker warned: “If you remember nothing else from today, please take note of this: economic growth and innovation in our region’s economy has slowed, and we are losing position against peers.”
These are leading indicators of our future. If we do not accelerate growth, we risk eroding the very strengths—like livability and inclusion—that we’ve worked so hard to build.
A Call to Action
The message from COMPETE25 is clear: we must compete more intentionally. “Competitiveness is how we create the future we want—more prosperity, more inclusion, and more opportunity for everyone who calls this region home,” said Peter Frosch, President and CEO of the GREATER MSP Partnership.
The good news is that Minnesota has a track record of tackling big challenges. Now it is time to apply that spirit to economic growth and innovation. The future of our region depends on it.