Thursday, January 21, 2010

The Largest Employer in Minnesota? The Government

Twin Cities Business is a periodical devoted to the business community in Minnesota and the upper Midwest. Every year they publish a Big Book and present rankings about Minnesota businesses in a Forbes-like fashion.

This past issue they published the top 25 largest employers in the state. For a state that is home to businesses such as Target, Best Buy, 3M, Hormel Foods, and Cargill, you’d expect to have these companies appearing high on the list.

You’d be wrong.

Government represents 4 spots out of the top 20 employers; 3 out of the top 5; two out of the top three; and at 54,900 employees the State of Minnesota is the greatest employer in the state, crushing the number 2 employer the Mayo Clinic which only employs a paltry 37,318. In fact, the State of Minnesota is 7 times larger than Best Buy; the US Federal Government is 5 times larger, the University of Minnesota is 4 times larger; and Hennepin County is roughly the same size.

What in the world do we do when the economy is dominated by organizations that are publicly funded? This is moving toward a massive Ponzi scheme, folks.

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