“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
The Minneapolis-St. Paul area is among the top financial centers in North America. (Photo: Adobe Stock / f11photo)
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.
With a diverse economy built on industry-leading companies, thriving small businesses, high innovation rates, world-class infrastructure and a skilled, educated, and engaged workforce, there’s room for everyone to thrive.
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
2024 State Rankings
Top 10 Agritech
2024 State Rankings
Top 10 Semiconductors
2024 State Rankings
Top 10 Wind Power (Installed MW)
2024 State Rankings
#3 Tech Talent Leaders (50k-125k): Minneapolis/St Paul
2024 Metro Rankings
Top 10 Corporate Headquarters: Minneapolis/St Paul/Bloomington
2024 Metro Rankings
Top 10 Fintech Leaders: Minneapolis/St Paul
2024 Metro Rankings
Top 10 Manufacturing Hubs (Large): Minneapolis/St Paul
Minnesota is a place where the stars align — geography, culture and institutions – to create an unmatched economic landscape. See what leaders at Polar Semiconductor believe are the key benefits of doing business in Minnesota.
