Residents of Minnesota are well-prepared and familiar with the concept of resilience, and that same resilience will prepare them for any upcoming financial crisis. A study released by National Business Capital, an online business marketplace, ranked Minnesota fifth in the country for most recession-proof states in 2023.
The only area in which Minnesota does not rate highly is effective tax rate, where it ranked 39th. North Dakota topped the list of most recession-proof states, and Wisconsin tied with Minnesota for fifth place.
Minnesota’s track record of weathering financial storms in the past is proof that come whatever comes the state will be right there in the battle for a secure economic future.