| Posted by Mark Weber |
DALE KURSCHNER: WEALTH & BUSINESS INVESTMENT/MIGRATION TRENDS IN MINNESOTA
 A migration of wealthy Minnesotans to more tax-friendly states was documented Jan. 24 by Dale Kurschner, editor of Twin Cities Business. Kurschner said that, while surveys show state business leaders have an optimistic outlook for 2017, evidence and studies demonstrate that a considerable amount of wealth is leaving Minnesota because of high income taxes, combined with some state characteristics impossible to change: cold weather, mosquitoes, and the attraction of warm-weather states.
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Twin Cities Business estimates that $16.7 billion in net worth and $2.1 billion in taxable income left the state in 2014-15. The trend is expected to continue, Kurschner said, with an estimated $63 billion in net worth and $5.2 billion in taxable income leaving for other states before 2020. Kurschner said the outlook is confirmed by CPA trade organizations and through personal interviews with corporate CEOs. This type of migration he added, has an impact on tax revenue, consumer spending, philanthropy, investing, venture financing, and the overall quality of Minnesota’s “brain trust.” You can read more about what TCB calls The Great Wealth Migration on its website at
Announcements
- The next Swallowship gathering is Feb. 8, and a New Member Orientation will be held Feb. 10 from noon to 1 p.m.
- A Family Skating & Sledding event is being planned for Feb. 19 from 2-3:30 p.m. in Chanhassen. Check the website for details.
- Eden Prairie Beyond the Yellow Ribbon and Eden Prairie Girl Scouts are combining for a free event to recognize military veterans. It will be held 3:30-5 p.m. Feb. 16 at the Eden Prairie Senior Center. No registration is needed.
- The club’s board of directors has supported local involvement in a New Generations Exchange, in which a visitor or visitors from another country are hosted for a short duration. Contact Dennis Kim for details.
- Pledges to the EPAM Rotary Foundation are coming in; 25 members have pledged so far, said Irene Kelly. Please turn in your pledges by Jan. 31.
Spotlight on Cheryl Eastbourne
 Cheryl Eastbourne, providing her vocational, says she was born in Chicago, has worked locally for Edina Realty for 22 years, and currently lives in Mound. Cheryl has returned to the club and is getting reacquainted with what Rotary stands for … and Roger Jorgensen’s occasional happy/sad reports related to the Green Bay Packers. She enjoys her work, especially making friends with new clients, and those occasions when she can bring her dog to the office. Posting those many open-house signs … well, that’s a different matter. Welcome back to the club, Cheryl.
Happy Fines
A few things make us happy and motivated to contribute dollars to The Rotary Foundation: Bob Solohub is happy to give PROP a hand by taking your paper or plastic bags, which are in short supply at the food shelf. John Crudele is happy about an upcoming mission trip to the Philippines. Dan O’Brien is happy that the Santa suit used for the club’s holiday party is safe and sound … and saved from a mishap while in Pastor Rod’s car. Dan is also happy about awarding two Paul Harris Fellow pins – two sapphires for Dane Boeckermann and five sapphires for his dad, Dan Boeckermann. Dennis Kim is happy to help anyone who has a child or acquaintance who may be interested in a student exchange program to Korea.
Visitors
Jack Kuehn - Burnsville Rotarian
Ale Pena Gonzalez - Exchange Student
Parker Hewitt and Bailey DeMets - Student Inters
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