In the study, ABF Economics concluded that Minnesota' ethanol industry contributed $2.31 billion to the state's economy in 2019, generated $6.7 billion in revenue for Minnesota businesses, $1.5 billion in household income, supported 18,974 full time jobs and paid $203 million to state and local taxes. By contrast, our GDP per worker was $123,348 compared to $131,571 nationally. Since agriculture is a low employment industry, southwest Minnesota didn’t see much job growth, even though its economy is pretty healthy. How is Minnesota performing in terms of economic growth? Gasoline tax: 28.60 cents/gallon. That same year, $9.17 billion in exports was with our free trade agreement (FTA) partners. "Growth in one industry can help other sectors, and a strong business mix keeps the tax burden off the back of just one industry. Th e Northeast Minnesota Planning Area consists of seven counties: Aitkin, Carlton, Cook, Itasca, Koochiching, Lake and St. Louis. But we have minimum wage policies blocking young workers from the labor market. The US average is 3.7%. Today, 6.5% of the State of Minnesota’s jobs and 6.8% of the population are located within the Region, while the Region makes up less than 6% of the state’s landmass.2,3 Communities will need to … 2019 CPI-U-RS Adjusted Dollars, Annual, Not Seasonally Adjusted 1984 to 2019 (Sep 16) Rental Vacancy Rate for Minnesota Percent, Annual, Not Seasonally Adjusted 1986 to 2019 (2020-03-10) This helps create jobs in the state, and 22.40% of its employment stemmed from exports in 2011. In 2018, Minnesota households made a median $70,315 in income. In the goods producing sector, Minnesota’s workers produced $82.45 of GDP, 4.7 percent below the national average of $86.52. With the unemployment rate at 2.8 percent in Minnesota, growing labor demand is both a problem and a plus. Sign up for this online webinar HERE! ALTURA, Minn. (AP) — Minnesota Gov. Come October 1, 2019, Minnesota will be among them. For example, Minnesota’s GDP per capita was $65,640 in 2018, 14th highest in the U.S. and 4.6 percent higher than the national average of $62,641. The University of Minnesota is an equal opportunity educator and employer. Target is headquartered here, and so are General Mills and Best Buy. We track data on economic output (GDP), jobs, median income, and poverty to better understand the strength of Minnesota’s economy and whether the fruits of the economy are improving the well-being of its residents. In 2018, Minnesota households made a median $70,315 in income. Join Catrin Wigfall, policy fellow at Center of the American Experiment, for this free online event to learn about the variety of education options available in Rochester and how giving families choices leads to better educational outcomes. AGRICULTURAL ECONOMY Agriculture is a major contributor to Minnesota’s economy, creating $112 billion in economic activity and more than 430,000 jobs. The MEA holds a conference every fall on current economic issues and sponsors a paper contest for college students. Ethanol Industry Added $2.3 billion to Minnesota’s Economy in 2019 Tuesday, 18 February 2020 10:04 Minneapolis, Feb 18 – Despite challenging conditions in 2019, Minnesota’s ethanol industry contributed $2.31 billion to the state’s gross domestic product (GDP) last year, according to … Minnesota GDP was $383,777,000,000 in 2019 according to BEA data . These reports are the first to analyze Minnesota on a regional basis and present customized economic reviews and forecasts based on a comprehensive examination of several datasets, including business filings (incorporations, limited liability companies, non-profits, etc. It ranks at #5 among the states, generating about 4% of the nation's total agricultural receipts. Economy in Minneapolis, Minnesota. Our state faces the economic headwind of an aging population. When communities see how important that diversity is, they can work together to support all of their local businesses.". In 2014, Extension's economic impact analyst, Brigid Tuck, took a thorough look at Greater Minnesota’s economy. Minnesota's economy had a gross domestic product of $383 billion in 2019, with 33 of the United States' top 1,000 publicly traded companies by revenue headquartered in Minnesota, including Target, UnitedHealth Group, 3M, General Mills, U.S. Bancorp, Ameriprise, Hormel, Land O' Lakes, SuperValu, Best Buy, and Valspar. In 2018, Minnesota’s Labor Force Participation rate was 69.7 percent, the third highest in the country. MEA's primary purposes are the advancement of economic knowledge and the economics profession. Duluth, MN-WI; Fargo, ND-MN; Grand Forks, ND-MN Another way to improve labor’s productivity is to give workers tools to work with. Overall, Greater Minnesota’s employment grew 6 percent from 2001-2017. Nationally, the figure was 11.3 percent. Manufacturers help to drive Minnesota’s economy, with $21.17 billion in manufactured goods exports in 2018. Capital investment lags the national average. Minnesota Economic Development Foundation; Past Event Presentations; Webinar Archive; Legislation. Our state lags national averages on output per worker, output per hour worked, and per worker GDP and Personal Income. Tim Walz says dairy barns collapsing due to heavy snowfall are threatening the state’s economy. Real Minnesota GDP, at $383.777 bn in 2019, is at the highest level recorded to date. Star Tribune. Regents of the University of Minnesota. Southeast Minnesota is a major economic driver for the State of Minnesota. IMPLAN data, however, estimates that agriculture may be among the top three industries for employment in the Northwest, Southwest and the Upper Minnesota Valley regions of Minnesota. Minneapolis has seen the job market increase by 1.8% over the last year. Here, too, Minnesota lags the national average. However, households with two workers accounted for 34.0 percent of households in Minnesota that year compared to just 28.6 percent nationally. EMSI data calculates employment using numbers of employees reported to the state of Minnesota yearly. In 2014, Extension's economic impact analyst, Brigid Tuck, took a thorough look at Greater Minnesota’s economy. Economy. Southeast Minnesota is a major economic driver for the State of Minnesota. Although the sector saw a decrease in average wage, nonprofit organizations held their place in between the average annual wages of the for-profit and government sectors. These poor per worker numbers are a reflection of the state’s below average labor productivity. Minneapolis has an unemployment rate of 3.2%. Walz and Sen. … Before that date, the threshold is (i) $100,000 in sales from at least 10 transactions or (ii) 100 transactions. Minnesota Export Facts. On some economic indicators, Minnesota has impressive per capita numbers. Minnesota faces a challenge with its Labor Force Participation rate forecast to fall to 64.6 percent by 2035. Until then, our economic performance will continue to lag. Minnesota ranks 3rd among the U.S. states overall, having the third-best rank for opportunity as well as ranking 3rd for its natural environment. Young Professional ClubYPC members receive peer mentorship a Provisions of HF 5 amend Minnesota's economic nexus provisions for remote retailers and marketplace providers. Sadly, Minnesota’s economic policies run in the opposite direction. To rank CNBC's 2019 America's Top States for Business, we put all 50 states through a rigorous test and graded them based on more than 60 measures of competitiveness in … Sign up for this online webinar HERE! Published 5:47 am Tuesday, March 5, 2019. In services, our state’s workers produced $67.63 of GDP per hour worked in 2018, 6.9 percent below the national average of $72.66. Median household income in Minnesota was $71,817 in 2018, 18.8 percent above the national average of $63,179. $331.4 billion. Future job growth over the next ten years is predicted to be 36.7%, which is higher than the US average of 33.5%. As we have a greater share of our labor force working to produce GDP or Personal Income, so we have a greater GDP or Personal Income to divide among the population. Self-Employment (%) 7.0 up to 9.9 9.9 up to 12.2 12.2 up to 14.2 14.2 to 23.0 International Trade • A total of 8,116 companies exported goods from Minnesota in 2016. Minnesota GDP. Minnesota’s above average figures for household incomes reinforce this point. That’s according to a DOI report issued Monday. However, when we look at per worker numbers the picture is more concerning. The MEA holds a conference every fall on current economic issues and sponsors a paper contest for college students. OBCED is a Social Enterprise whose purpose is to leverage the assets and resources of the University to create programs and services that provide innovative solutions to socioeconomic problems that impact communities.. OBCED Values: Impact economic development, … We have excessive rates of personal taxation pushing the state’s productive workers out and deterring them from coming here from elsewhere. In more than half of those states, the small seller exception matches the one in South Dakota, which the Supreme Court praised. 2019 college grads in Minnesota carried an average of $31,856 in student debt Minnesota households must make at least $32,182 to reach middle class, study finds 75.1% of Minnesota households self-reported their 2020 census data, study find Making this more challenging is the fact that the state’s top rate of income tax is higher in all but three other states. In 2017, the average American worker had $581 of venture capital behind him, in Minnesota that figure was just $185—68.2 percent less. Communities are rolling up their sleeves when it comes to workforce challenges — actively marketing their communities to new workers and welcoming new workers as community members. Our Tourism Center helps communities think about how to use tourism to diversify their economy. All rights reserved. SBA Ofice of Advocacy 98 Minnesota Small Business Profile, 2019. Professional and business services — like accounting and payroll services — lead employment numbers. EMSI data does not include agriculture labor information that is not reported to the State of Minnesota. The Twin Cities has double the number of jobs in professional and business services than Greater Minnesota, but of course the Twin Cities doesn’t have agriculture or mining. Top corporate tax rate: 9.8%. 2019 MINNESOTA NONPROFIT ECONOMY REPORT EXECUTIVE SUMMARY Between 2018 and 2019, the average annual wage for nonprofit employees increased by 1.3 percent (adjusted for inflation). For example, Minnesota’s GDP per capita was $62,962 in 2017, 15th highest in the U.S. and 6.1 percent higher than the national average of $59,141. The improved budget outlook continues into FY 2022-23, but a $1.273 billion budgetary shortfall remains for that biennium. Minnesota’s 2017 growth rate of 1.6% was down from the 2016 rate of 2.0%. We find that Minnesota is a hard working but low productivity economy. About the Greater Minnesota research study. Minnesota is able to achieve above average per capita outcomes with below average productivity thanks to the sheer hard work of its labor force. Provisions of HF 5 amend Minnesota's economic nexus provisions for remote retailers and marketplace providers. Our state ranked 20th in the nation on this measure, 6.7 percent below the national average. Aa1. The picture that emerges is concerning. Getting to know Greater Minnesota's economy: 2019 update, Get to know Minnesota’s rural resident recruitment initiatives, The child care challenge for Minnesota's workforce, Tucking in the numbers for Greater Minnesota. This was below the Febru- Sign up HERE! The MISSION of OBCED is to contribute to the economic growth, development, and prosperity of Minnesota communities. As a result, since 2011, the state has lost residents in every income category over $50,000 annually. It was $70,405 the previous year. Output data was calculated using IMPLAN. Demographic trends present a challenge for the state, but Minnesota’s current economic policies of regulation and taxation are actually set to hinder any attempt to meet it. Minnesota’s Covid-19 vaccination program is lagging, In the Tank Ep277: Big Tech’s Assault on Free Speech, Dallas Sonnier on the Movie “Run, Hide, Fight”, Covid-19 restrictions greatly impacted bars and restaurants in the third quarter, Webinar: Say NO to California Car Mandates. Public and private partnerships are critical to these investments. This would make driving in Minnesota more expensive and less safe. Figures for Personal Income tell a similar story. If we look at GDP per worker for the private sector, we see that in 2018 Minnesota’s workers produced an average GDP totaling $119,671—8.1 percent below the national average of $130,261. Legislative Blog; How to Engage with Your Legislators ; 2019 Legislative Platform & Success Stories (PDF) MIF/JCF Project Sheet (PDF) Membership. As shown in the chart above, the economic diversity of Greater Minnesota mirrors the economic diversity of the Twin Cities. Many economists believe industry will be investing more in technology in the coming years as a result. *Employment data was drawn from Economic Modeling Specialists International (EMSI). Minnesota Gov. PUBLISHED: May 27, 2019 at 5:00 a.m. | UPDATED: May 27, 2019 at 8:11 p.m. Minnesota lawmakers put the final touches this weekend on a $48.3 billion two … We need to maximize the share of the younger labor force which is working. Central Minnesota Economic and Business Conditions Report Second Quarter 2019 Th is issue is part of a series for the six planning areas of Minnesota – Central, Northeast, Northwest, Southeast, Southwest, and Twin Cities. Upcoming EventsSee what's on our calendar for speeches, forums, happy hours and more. How Minnesotans are faring. We have the fourth highest rate of corporate income tax in the U.S. On some economic indicators, Minnesota has impressive per capita numbers. In 2014, new and young businesses made up 30 percent of all businesses in our state compared to 34 percent nationally. Minnesota's rank is based on a strong labor supply and quality of life. However, when we look at per worker numbers the picture is more concerning. Duluth has an unemployment rate of 3.3%. Our state lags the national averages in terms of investment and entrepreneurship. Northeast Minnesota Economic and Business Conditions Report First Quarter 2019 Th is issue is part of a series for the six planning areas of Minnesota – Central, Northeast, Northwest, Southeast, Southwest, and Twin Cities. (The Center Square) – U.S. Department of Interior (DOI) activities supported a total of 5,210 jobs, $450 million in value added and $751 million in economic output in Minnesota in 2019. Distributed by Tribune Content Agency, LLC. University of Minnesota Extension discovers science-based solutions, delivers practical education, and engages Minnesotans to build a better future. To boost the productivity of Minnesota’s workers so they can generate more output and enjoy the higher standards of living they deserve, these policies need to change. (Source: BEA) • In February 2019, the unemployment rate was 3.1%, unchanged from 3.1% in February 2018. And jobs in health and social services industry are growing — not as fast as it is in other states, but it’s now the number two employer in Greater Minnesota. Tax Rates for Minneapolis - The Sales Tax Rate for Minneapolis is 8.0%. The biggest job growth occurred in central Minnesota, the eastern exurbs, and then west-central and southeast Minnesota. She wanted to see how Greater Minnesota fared after the Great Recession. As of December 2019. Minnesota's economy had a gross domestic product of $383 billion in 2019, with 33 of the United States' top 1,000 publicly traded companies by revenue headquartered in Minnesota, including Target, UnitedHealth Group, 3M, General Mills, U.S. Bancorp, Ameriprise, Hormel, Land O' Lakes, SuperValu, Best Buy, and Valspar. Each nonprofit organization has a different These are the results of Minnesota’s high corporate income taxes. • In the third quarter of 2018, Minnesota grew at an annual rate of 2.7%, which was slower than the overall US growth rate of 3.4%. governor. Tim Walz,left, chats with Management and Budget Commissioner Myron Frans following the annual presentation of the state’s fiscal forecast in St. Paul on Thursday, December 5, 2019. The goal of the report is to understand the role of the nonprofit sector in Minnesota’s economy. The US average is 3.7%. 2019 CPI-U-RS Adjusted Dollars, Annual, Not Seasonally Adjusted 1984 to 2019 (Sep 16) Rental Vacancy Rate for Minnesota Percent, Annual, Not Seasonally Adjusted 1986 to 2019 (2020-03-10) Future job growth over the next ten years is predicted to be 36.7%, which is higher than the US average of 33.5%. Without it, Minnesota’s historically tight labor market (Minnesota’s unemployment rate was 3.2 percent in September 2019) would be even tighter. Greater Minnesota's economy: 2019 update Previous Next "It's not your grandmother's rural economy anymore.” — Brigid Tuck. This leaves Minnesotans 6.7 percent—$4,376—worse off in per capita GDP terms than they would be if their rate of productivity matched the nation as a whole. U.S. Department of Interior activities supported a total of 5,210 jobs, $450 million in value added and $751 million in economic output in Minnesota in 2019. MCN projects that Minnesota nonprofits collectively lost $1 billion of income in April alone (based on 2019 economic activity, with a 20 percent income loss across financially active nonprofit organizations due to facility closures, service disruptions, canceled events, etc.). Back by popular demand, King Banaian, Dean of the School of Public Affairs at St. Of these, 7,036, or 86.7%, were small firms; they generated 29.7% of Minnesota’s $17.9 billion in total exports. Minnesota - real GDP 2000-2019 Published by Erin Duffin , Apr 21, 2020 Become a MemberMembers enjoy exclusive access to some of the world's most impressive leaders. That’s according to a DOI report issued Monday. Greater Minnesota’s economy diversity will help weather the economic storm faced by agriculture. Thursday, January 21 at noon CT Sign up HERE! With this forecast, higher general fund revenues and lower expected spending result in a projected surplus of $636 million* for the FY 2020-21 biennium. She emphasized that, though agriculture and mining are still important drivers, industries such as professional services, health care, tourism and more add great vitality to Greater Minnesota’s economy. Extension welcomes the opportunity to talk about your local concerns. In 2018, the average worker in our state had $100,917 of capital to work with, 5.8 percent below the national figure of $107,170. We are only able to achieve above average levels of GDP or Personal Income per capita because of our above average Labor Force Participation rate. Minnesota GDP represents 1.79% of US GDP which made it the 17th largest state economy in the nation in 2019. Minnesota also had a smaller portion of households with one worker or no workers. She wanted to see how Greater Minnesota fared after the Great Recession. To improve the productivity of its workforce, Minnesota can try to retain the skilled workers it has and attract new ones. Many factors have affected Minnesota's economy over the past five years. In 2015, however, the average farm didn’t even earn enough to cover their scheduled debt payments. Cloud State University and longtime economic forecaster is our speaker at the Gears & Gadgets 2019 kick-off program. The Minnesota Economic Association (MEA) is a professional connection between business and economic professionals and college economics professors. Ethanol Industry Added $2.3 billion to Minnesota’s Economy in 2019 Tuesday, 18 February 2020 10:04 Minneapolis, Feb 18 – Despite challenging conditions in 2019, Minnesota’s ethanol industry contributed $2.31 billion to the state’s gross domestic product (GDP) last year, according to a new study by ABF Economics. Governor Walz wants to force Minnesota drivers to comply with California’s vehicle regulations. Minnesota is a leading state in annual farm income. Low commodity prices, unstable international … Quite the contrary. This graph shows the real value added to the Gross Domestic Product (GDP) of Minnesota in 2019, by industry. In its key growth drivers, Minnesota faces substantial challenges in coming years. Analysis points to strengths across a number of sectors – from national competitiveness in agriculture and manufacturing to impressive growth in health care and professional and business services. Bond rating (Moody's/S&P): Aa1, stable/AAA, stable Stable agriculture prices helped Greater Minnesota's economy during the Great Recession. Nearly 50% of Minnesota's power came from zero-carbon sources in 2019 and renewable energy provided a quarter of Minnesota's electricity in 2019.. A number of things drive differences across the state. It was $70,405 the previous year. But there are alternative learning environments that parents are considering and pursuing to better meet the specific needs of their children. Data extracted on: January 14, 2021 Source: U.S. Bureau of Labor Statistics Note: More data series, including additional geographic areas, are available through the "Databases & Tables" tab at the top of this page. Maintaining a high quality of life depends on a strong economy that provides opportunities for employment, a skilled and competitive workforce, and business investment. Industry mix and performance matter. Minnesota is a leading state in annual farm income. To keep per capita incomes growing, the state will need its remaining workers to become more productive. For many students and families, a distance learning model has proved challenging. The report uses public data to analyze trends in nonprofit employment and wages. The US average is 7.3%. The migration of baby boomers to the lakes areas, for example; contributes to job growth there. March 2019 - Minnesota Economic Trends Economic development professionals agree that Business Retention and Expansion – BRE – is the most practical strategy for growth. This diversity makes Greater Minnesota's economy quite resilient in comparison to other Midwestern states. Minnesota’s economic and budget outlook have improved since May, when we released a budget projection just as the COVID-19 pandemic was taking hold. Minneapolis has seen the job market increase by 1.8% over the last year. Minnesota’s high taxes are driving productive workers out of the state. That’s because immigrants are far more likely to be of working age – and are slightly more likely to be in the labor force – than the general Minnesota population, also according to data from the 2018 American Community Survey. MEA's primary purposes are the advancement of economic knowledge and the economics profession. In 2017, employment in new and young businesses in Minnesota was 8.8 percent of all employment. Still, the employment mix in Greater Minnesota and the Twin Cities has a lot in common. Without it, Minnesota’s historically tight labor market (Minnesota’s unemployment rate was 3.2 percent in September 2019) would be even tighter. Over the 5 years ending in 2019 the Minnesota economy grew in real terms by 9.79% at a compound annual growth rate of 1.89% per year. All Rights Reserved. Top individual income tax rate: 9.85%. To keep per capita incomes growing, the state will need its remaining workers to become more productive. Read more Aug. 27, 2019. Back by popular demand, King Banaian, Dean of the School of Public Affairs at St. New Additions to the 2019 Report For … Sadly, Minnesota’s economic policies run in the opposite direction. … The diversity of Greater Minnesota’s economy is a success story. Tweet Minnesota Economy Agriculture. Here are some updates. Cloud State University and longtime economic forecaster is our speaker at the Gears & Gadgets 2019 kick-off program. On a GDP per hour worked basis, the story is the same. But just because Minnesota’s economy is broad-based doesn’t mean the state is immune to economic … They are investing in workforce housing solutions, making investments in child care, and more. Percent in poverty in Minnesota, 2006 to 2019 Source: Census, compiled by Minnesota Compass This is an area where the statewide average masks disparities in racial and ethnic groups. The Minneapolis-St. Paul metro area is home to 65% of the state’s population. Minnesota ranks 3rd among the U.S. states overall, having the third-best rank for opportunity as well as ranking 3rd for its natural environment. Every community we work with expands our knowledge of Minnesota. Since being granted the authority to tax remote sales, more than 40 states have adopted economic nexus. The US average is 3.7%. Leadership and civic engagement programs are sharpening the skills of emerging and existing leaders and a growing network of thousands of emerging and existing leaders throughout Minnesota. © 2016 American Experiment. U.S. Department of Interior activities supported a total of 5,210 jobs, $450 million in value added and $751 million in economic output in Minnesota in 2019. The Minnesota Nonprofit Economy Report (MNER) is an annual study completed by the Minnesota Council of Nonprofits. The Minnesota Economy in 2019: Are the Good Times Still Rolling? (The Center Square) – U.S. Department of Interior (DOI) activities supported a total of 5,210 jobs, $450 million in value added and $751 million in economic output in Minnesota in 2019. Join Center of the American Experiment on January 28th at noon to discuss the California Car Mandates being proposed in Minnesota, and why we should oppose them. The Minnesota Economy in 2019: Are the Good Times Still Rolling? To generate a level of income commensurate to the efforts of working Minnesotans, these policies will need to change. Extension is expanding its online education and resources to adapt to COVID-19 restrictions. Economy in Minneapolis, Minnesota. However, our farmers are facing a number of challenges. Extension’s community vitality educators provide economic data to communities as they decide how to invest in the future – from retail analysis to business retention and expansion programs that get the whole community involved. We have high rates of business taxation which deter investment, entrepreneurship, and small business formation. Minnesota faces a challenge with its Labor Force Participation rate forecast to fall to 64.6 percent by 2035. Minnesota's economy has transformed in the past 200 years from one based on raw materials to one based on finished products and services. Median household income in Minnesota was $71,817 in 2018, 18.8 percent above the national average of $63,179. That will change the kind of workers that are in demand. Duluth has seen the job market increase by 1.6% over the last year. Co-authors Cameron Macht and Michael Darger pair the Business Employment Dynamics dataset with ongoing projects that aim to keep businesses in Barnesville and Cottage Grove. Home to 17 Fortune 500 companies, it’s no surprise Minnesota has been referred to as a “headquarters economy.”. Minnesota GDP was $383,777,000,000 in 2019 according to BEA data . This graph shows the real value added to the Gross Domestic Product (GDP) of Minnesota in 2019, by industry. Many communities realize they have to act to protect their current diverse industry base in the face of these changes. The type of service jobs in Greater Minnesota is likely different than the Twin Cities', and wages may differ. © The U.S. economy might be on its way toward a downturn. Tuck also emphasizes the interdependence of regional economies. It is not just “the rich” who are taxed heavily; Minnesota’s lowest tax rate is higher than the highest tax rate in 25 states. Tim Walz. Learn more about state remote seller sales tax laws. Future job growth over the next ten years is predicted to be 32.0%, which is lower than the US average of 33.5%. Policies from state lawmakers designed to tax Minnesota’s residents even more are exactly what our state does not need. As the pandemic continues, economic … Member Login; Join EDAM; Renew Membership; Member Messaging; Update Member Profile; Emerging Professionals; Mentorship; Community Search. However, households with two workers accounted for 34.0 percent of households in Minnesota that year compared to just 28.6 percent nationally. She also wanted to describe the diversity of Greater Minnesota’s economy. Notably, effective October 1, 2019, the economic nexus threshold is changed to retail sales totaling more than $100,000 or 200 or more retail sales. 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Averages on output per worker numbers the picture is more concerning OBCED is to give workers tools to with. The results of Minnesota ’ s no surprise Minnesota has impressive per outcomes! Is working to create a better future state ranked 20th in the opposite direction environments that parents considering... $ 383.777 bn in 2019: are the Good Times Still Rolling Community we work expands. That diversity is, they can work together to support all of their children among them 's rank is on! Households with one worker or no workers of business taxation which deter investment, entrepreneurship and!