Friday, July 8, 2011

Minnesota government shutdown costly to state and businesses - Jul. 7, 2011

Minnesota government shutdown costly to state and businesses - Jul. 7, 2011

The state is also losing millions in revenue every day of the shutdown. The lottery normally pulls in about $1.25 million daily, while state compliance officers chase down about $1.68 million in tax revenues per day. The closing of the express toll lanes and Giants Ridge public golf course and convention center means more than $120,000 a week will slip away.

Plus, Minnesota expects to shell out $8.5 million a week in unemployment insurance for the laid-off state workers, according to the Department of Employment and Economic Development. And it will pay $4.7 million to cover their health insurance weekly.

Those unemployed public employees, combined with the laid-off construction workers and social services providers who lost their state funding, are expected to drain $18 million in spending from Minnesota's economy each week, said Thomas Stinson, who was the state's economist until he lost his job on Friday.

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