There's a reason it's called the Iron Range.
Yes. It's because there's lots of iron ore there. It has nothing to do with geological stability, though Minnesota is nicely stable. Of course that stability means that what passes for a mountain there is pretty laughable.
We have no earthquakes, hurricanes, and our buildings don't mysteriously vanish into holes in the ground.
Yes, but you do have floods, blizzards, and pestilential mosquitoes in the summer. Your winters are so miserable that people literally live in giant shopping malls so they don't have to go outside.
We have access to the largest reservoir of fresh water in the world as well.
No you don't. Both Lake Baikal and Lake Tanganyika are larger than Lake Superior by volume, which is the only sensible measure of how much fresh water a lake contains. Lake Baikal has a larger volume than all 5 great lakes combined.
Look, I'm sure that Minnesota is a nice place. It seemed nice when I visited. But it has its own set of problems, and it lacks things that other places have that people who live there really enjoy. I'm glad you like it there, but don't try to impose your ideas of what an ideal place looks like on everyone else.