Minnesota Lawyer
State economist Tom Stinson (Staff photo: Peter Bartz-Gallagher)
After 26 years as the lead budget forecaster for the state of Minnesota, economist Tom Stinsonwill step down from the position and transition into a full-time job teaching at the University of Minnesota.
Current University of Minnesota applied economics professor Laura Kalambokidis will take over as state economist, making her the first woman to serve in the role since the position was created in 1975. She will officially take over the post in July. Stinson, 70, was first named state economist in 1987, holding a job for decades that economists before him only held for several years at a time. Stinson has served with five Minnesota governors and 14 budget commissioners.
“Now is a good time,” Stinson said in a Monday morning news conference, addressing reporters, as he’s done for nearly every forecast, in a ground floor hearing room in the Capitol. “The state is in pretty good financial shape.”
Looking back at his long career, Stinson singled out the 2011 government shutdown as one of the most difficult times for him as state economist. His biggest concerns for Minnesota’s economy going forward, he said, are the state’s aging workforce and low high school graduation rates.
“Dr. Stinson has been an invaluable source of economic wisdom, sound judgment, and common sense for five administrations,” Gov. Mark Dayton said in a statement. “He represents the very best in excellent, dedicated public service.”
Kalambokidis will split her time between her new job as state economist and her faculty position at the University of Minnesota, where she has taught for the last 13 years. She worked on the 2007-2008 Minnesota State Budget Trends Study Commission and the Minnesota Tax Expenditure Review Study Group in 2010-2011. Kalambokidis also worked as a tax analyst in the U.S. Department of Treasury in Washington, D.C.
Kalambokidis was in the room when state economists worked on the last two forecasts. “I know how challenging and intricate the process is,” she said.
