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Minnesota Milestones 2010: Change in Number of Establishments

 
 
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Indicator 37: Change in Number of Establishments

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Rationale: The creation of new businesses is an indicator of a strong, dynamic economy. Small businesses and start-ups are responsible for much of the job growth in Minnesota.
About this indicator: Growth in establishments has been slow. There was a net gain of 9,124 establishments between 2004 and 2008. This included a net gain of 8,376 private establishments. Between 2000 and 2008, the total number of establishments grew 2.7 percent.

The Quarterly Census of Employment and Wages (QCEW), the source of this data, is based on all establishments covered under the Unemployment Insurance system.

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Percent change in establishments from previous year (private sector)
YearData
Percent change in establishments from previous year (all sectors), Department of Employment and Economic Development
Percent change in establishments from previous year (private sector), Department of Employment and Economic Development
All ownerships Private sector
20010.2% 0.1%
20020.3% 0.3%
20031.1% 0.9%
20041.3% 1.3%
20054.2% 4.2%
20062.4% 2.4%
2007-1.8% -2.0%
20080.9% 0.9%
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For comparison: Establishment growth in Minnesota has lagged the national average. Between 2001 and 2008, the number of establishments in the U.S. increased 13.8 percent, compared to 8.5 percent in Minnesota.
Sources:
Local data:

Milestones is a product of the Minnesota State Demographic Center, a division of the Department of Administration