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Despite ag downturn, shoots of optimism sprout in southwest Minnesota

 six-county area of southwest Minnesota has all the makings for a classic tale of economic hardship. The area—Lincoln, Lyon, Murray, Pipestone, Redwood and Yellow Medicine counties—is dominated by a farm sector struggling with another year of low commodity prices. The region also has gradually lost population as larger cities have lured away young workers and families. But in farm country, every year is a new growing season bringing new shoots of optimism, literally and figuratively. Despite agriculture’s downturn in recent years, the region’s unemployment rate is down and job demand is up. There are also signs that wages are rising. And a new business enterprise might, ironically, make the region an inland hub for seafood.

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Federal Reserve Bank
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