Mayor Rybak focuses on Minneapolis’ economy in his State of the City Address

In his annual State of the City Address on March 25, Minneapolis Mayor R.T. Rybak unveiled an aggressive economic plan to put more people to work, grow local businesses, tap global markets in China, and revitalize the City's housing market. Beyond a plan for economic recovery, Mayor Rybak called for residents and businesses to reinvent themselves for a new economy.

In his address, Mayor Rybak said that Minneapolis has been able to meet the demands of this tough economic reality because of the strong foundations in place in the city. He cited the training and placement of dislocated workers, the steady growth of the biomedical device industry in the area, targeted loans for business development and the influx of federal funds to acquire, redevelop and resell homes in the areas hit hardest by foreclosure. Mayor Rybak added that Minneapolis continues to maintain an unemployment rate lower than the rest of the metro and national unemployment rates.

Mayor Rybak laid out a series of initiatives to continue strengthening the Minneapolis regional economy using five overarching strategies: investing in people, home-growing local businesses, reaching globally, incubating innovation, and building stronger partnerships. New initiatives included:

The State of the City address will be rebroadcast on City Cable Channel 14 beginning on Thursday, March 26 at 8 p.m. with replays on Sundays at 1 p.m., Mondays at 9 a.m., and Thursdays at 8 p.m. through the end of April.

March 25, 2009

Published Mar 23, 2009