Minnesota Employment and Economic Development
“Minnesota has a great combination of regional assets and industry strengths that enables businesses to succeed. Startups to Fortune 500 companies find a dynamic innovation ecosystem, world-class infrastructure, a global talent market, an amazing quality of life, and a commitment to inclusive growth.”
— Catalina Valencia, Executive Director of Business Development, Minnesota DEED
FAST FACTS
Population (July 2022 est.): 5,717,184¹
Largest Cities (2020): Minneapolis (429,014); St. Paul (310,942); Rochester (121,396); Bloomington (89,854); Duluth (86,601)¹
Real GDP (2022): $350.3 billion²
¹ U.S. Census Bureau;
² Bureau of Economic Analysis, U.S. Dept. of Commerce
TARGETED GROWTH SECTORS
Advanced Manufacturing: Advanced Manufacturing is the backbone of Minnesota’s economy with 8,300 companies, 309,000 highly skilled workers, and $50 billion per year in revenue.
Life Sciences: Minnesota is a hotbed of innovation for life sciences, home to the world’s top health tech cluster, nicknamed “Medical Alley.”
Clean Technologies: Minnesota has a robust ecosystem of established companies, vibrant startups, leading research centers, government support, and cross-sector partnerships.
TOP PROJECTS
COMPANY | LOCATION | INVESTMENT |
Polar Semiconductor LLC | Bloomington | $372 million |
Niagara Bottling | Elko New Market | $258 million |
Cambria | Le Sueur | $130 million |
Bongards Creameries | Perham | $125 million |
Spectro Alloys | Rosemount | $77 million |
WORKFORCE PROGRAMS
Minnesota Jobs Skills Partnership (MJSP) and Job Training Incentive Program (JTIP): The MJSP and JTIP programs offset training-related expenses for businesses, nonprofits, and educational institutions to meet workforce needs.
Jobs Creation Fund (JCF) and Minnesota Investment Fund (MIF): The JCF and MIF help companies create and retain high-quality jobs. Companies qualify when they meet wage and job creation goals.
TOP BUSINESS FACILITIES RANKINGS
#2 Medtech/Medical Devices | 2023 State Rankings |
Top 5 Agribusiness | 2023 State Rankings |
Top 10 Manufacturing Jobs (% of workforce) | 2023 State Rankings |
Top 10 Semiconductors | 2023 State Rankings |
Top 10 Windpower (Installed MW) | 2023 State Rankings |
Top 10 Corporate Headquarters: Minneapolis/St. Paul/Bloomington | 2023 Metro Rankings |
Top 10 Fintech Leaders: Minneapolis/St. Paul | 2023 Metro Rankings |
Top 10 Tech Talent Leaders (Labor Pool 50K-125K): Minneapolis-St. Paul | 2023 Metro Rankings |
Top 10 Financial Centers (North America): Minneapolis/St. Paul | 2023 Global Rankings |
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