Minnesota is home to Medical Alley, the region the world turns to for solutions to health care’s biggest challenges. We deliver the technologies and care that improve the lives of Minnesotans, Americans and countless people around the world.
The significance and importance of the work being done in Medical Alley needs to be shared with the world. It is critical that our members of Congress fight for a United States-Mexico-Canada Agreement (USMCA) that encourages trade and fosters an environment that secures Medical Alley’s leadership position as the global epicenter of health innovation and care.
As president and CEO of the Medical Alley Association, I have seen firsthand how trade within the hemisphere has helped Minnesota businesses to thrive. Medical Alley is home to a significant number of medical technology companies, including one of the most robust early-stage health technology ecosystems in the world. It is vital for these businesses to have access to international markets to freely import and export goods, while lowering the costs of healthcare and improving health outcomes. We need support to continue our historic record of health innovation and patient access to leading therapies.
The USMCA will help to enable this success for the health technology industry, the patients it serves, and the thousands of people it employs in Minnesota by eliminating redundant and duplicative regulatory requirements and increasing transparency on marketing approvals and reimbursement decisions. The USMCA will ultimately enable the health technology industry to trade more easily with Canada and Mexico, improving outcomes for patients throughout North America and strengthening Minnesota’s economy.
While important to the health technology industry, ratifying the USMCA will benefit all Minnesota industries. During the first quarter of 2019, Canada and Mexico were the leading destinations for all Minnesota goods, and last year accounted for $7.2 billion in exports, amounting to 31.5% of the state’s total. Strengthening economic ties with these two countries is key to ensuring continued economic growth in Minnesota.
The future of Minnesota’s health technology and care industries lies in the hands of our congressional leaders. Regardless of party or Minnesota geography, it is crucial that our leaders come together and pass a deal that streamlines trade and secures Minnesota’s future as the global epicenter of health innovation and care.