The Twin Cities region boasts numerous economic assets that contribute to its robust and dynamic economy including a vibrant cultural scene, nation leading healthcare and technology sectors, and a concentration of fortune 500 companies. The region has consistently been recognized for its high levels of educational attainment, workforce retention, productivity, and relative affordability, as well as low unemployment rates. While our region boasts numerous assets, systemic racial disparities undermine our economic vitality and threaten community stability. Disparities in employment, poverty, income, and homeownership by race and ethnicity persist in the Twin Cities and - in some cases - are the largest nationwide. To ensure a thriving future for all residents, we must address these inequities and build a more resilient economy.

The economic resilience of the region is threatened by several factors including workforce instability and climate change. Despite nationally low unemployment rates, the region is struggling to fill thousands of jobs. Existing racial disparities in educational attainment levels and unemployment rates continue to limit the growth of the local workforce. The region is dependent on immigrant labor, which is vulnerable to fluctuating federal policy. Immigrants also face additional challenges such as credential recognition, language barriers, and discrimination. Undocumented immigrants also fear deportation, limiting their job and education opportunities.

Climate change also creates new economic risks for the region which will grow over time. Climate change harms the economy by disrupting agriculture, damaging infrastructure, and impacting vulnerable communities and industries.

The Met Council promotes reinvestment and innovation in underutilized areas, aiming to revitalize and maximize the potential of all places in the region. We also strive to enhance the accessibility of jobs for the region's workforce, facilitating greater opportunities for employment and economic participation. With our commitment to inclusive growth, we focus on meeting the needs of industries and enhancing the earning potential of workers through education, training, and mentoring programs which can be accomplished through partnership and collaboration. We seek to eliminate income and wealth disparities by race, advocating for equity and justice in economic opportunities. We are dedicated to creating accessible economic pathways for immigrants, acknowledging their valuable contributions to our region's diversity. Through these multifaceted efforts, we strive to build a resilient, inclusive, and thriving economy that benefits all people.

Conduct and disseminate ongoing research to understand the dynamics, and place-based needs of the region’s existing industries, businesses, and communities.

Develop and support programming that preserves the affordability of housing and commercial space in places experiencing significant investment.

Develop programming that reduces the cost-burden and uncertainties for industries, businesses, and entrepreneurs seeking to locate and/or expand in fully developed areas (i.e., redevelopment / renovation / re-use).

Explore opportunities to bolster global competitiveness in innovative and developing fields.

Partner and collaborate with other agencies, stakeholders, and partners to expand workforce development opportunities across climate and environmental sustainability fields.

Explore partnerships that support and provide tools, resources, and technical assistance to businesses and entrepreneurs seeking to develop business models that integrate sustainable and eco-friendly business practices.

Remove barriers and promote equitable access to quality education, skill-building, mentorship programs, and diverse job training programs for all residents regardless of age, race, disability, or immigration status. Where possible, the Met Council will model skill building, mentorship, and internship programs that support equitable workforce development

Encourage businesses and developers to adopt diversity and inclusion initiatives aimed at recruiting, retaining, and promoting employees from diverse racial and immigrant backgrounds.

Support culturally responsive access to financial services and resources for underserved communities, including immigrants and people of color (ex. credit building, sharia compliant financing, ITIN acceptance.).

Collaborate with agencies and other regional stakeholders on planning and programming that promote the economic wellbeing of the region, prioritizing efforts that reduce racial economic disparities.

Integrate arts and cultural considerations into regional planning processes to ensure that cultural assets are recognized, preserved, and integrated into the fabric of the community.

Collaborate with historically underserved communities to identify local economic development strategies that preserve and enhance their local business districts and resources.

Establish local controls and fiscal devices to support and preserve business districts that have historically served and been focused on the needs of historically marginalized or vulnerable communities.

Create opportunities for the Met Council to support and partner with organizations that support entrepreneurship and small business development among historically marginalized and immigrant communities by providing access to affordable loans, mentorship programs, business incubators, and technical assistance.