Although it’s been listed as the No. 1 state in the US by Politico, folks seem to be fleeing from Minnesota in legions, and they have yet to be replaced. Research by the MSDC (Minnesota State Demographic Center) indicates that each year, more people move from Minnesota rather than move in. Due to the state’s dropping domestic migration, the research surmises that overseas migrants will be important to strengthen Minnesota’s economic stability in the future.
According to the Star Tribune, retiring American seniors are predicted to make a large hole in the Minnesota workforce as their deaths will outnumber births in the state for the first time in US history. Not all ex-Minnesota residents travel far away, with Wisconsin and North Dakota being the two most common arrival states. However, a lot relocate to the slightly warmer climate and picturesque landscapes of Colorado.
Colleges and Universities in Colorado offer less expenses with easier admissions requirements
Interestingly, relocating to Minnesota from another state is most popular among young adults under 25 who want to attend college there after they graduate. However, the state actually loses more college students than it earns. The report shows that 29,000 students travel to another state for their advanced schooling each year, with Colorado being a favorite destination. This is due to Colorado’s high student retention rates, various financial assistance programs, and low tuition rates.
On the other hand, only 21,000 college students move to Minnesota from out of state. This makes up about 66% of the 12,000 residents Minnesota is thought to lose each year to domestic migration. Those that come back to the state post-graduation is believed to be a significantly lower figure than those who are leaving.
The report goes on to say that this makes a convincing argument for boosting the state’s college education facilities to help keep more Minnesota inhabitants in-state. Other states, such as Colorado, might offer more advanced colleges with less expensive courses or easier admissions requirements.
Minnesota offers expensive property taxes
The Star Tribune recently indicated in an editorial that Minnesota’s more expensive property taxes might be having an impact, since they can cause more people to rent rather than buy their houses. This means that fewer people will be establishing family roots in Minnesota, which will make it more likely that their children will relocate in the future.
Tax Foundation founder Richard Morrison has reported to MPR that he doesn’t believe high property taxes are the only reason that residents are moving. There are numerous studies that have been conducted that show a great number of Minnesota inhabitants actually relocate to states with even higher taxes, such as California. While he acknowledges that the high taxes could be an important economical reason for the migrations, he feels other issues may also be factors. These issues include whether or not people choose to retire there, the area’s general climate, and proximity to other family members have a strong effect as well.
Relocating to Colorado with La Junta Economic Development
La Junta Economic Development (LJEC) provides relocation services for people interested in moving from Minnesota and other states to the Southeastern Colorado area. We are focused on building a healthy, thriving business climate and social community. As such, we strive to help people who want to come live in and contribute to our city. If you have any questions about moving, give us a call today at (719) 384-6965. You can also Contact Us via email.