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A Robust & Diverse Economy

#1
Five Year Business Survival Rate
#1
Fortune 500 Companies Per Capita
#2
Best Overall State in America
#2
Best State for Economic Opportunity

There’s room for everyone to succeed here

Minnesota Overview

Land Area: 206,232 square kilometers | Population: 5.6 million | Labor Force: 3.0 million

Gross State Product (GSP): $374 billion | Per Capita GSP: $58,061

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Home to Global Giants and Nimble Startups

business-climate-five-yearOur strong economy is diverse and has the right components to help you succeed. Minneapolis-St. Paul rank as the 7th most diverse economy among all 384 metropolitan areas in the U.S.

And, we're better at growing new businesses than any other state in the nation: data shows that if you start a business here, it's more likely to survive beyond five years than anywhere else in the country.

We have a strong foundation of workforce and talent, innovation and technology, infrastructure and quality of life that fuel our businesses success and growth. That's why so many global giants grow here.

Largest and Best-Known Companies

Minnesota is home to 18 renowned Fortune 500s, including 3M, General Mills, U.S. Bancorp, Target and Best Buy. Our Twin Cities ranks 1st per capita – and Minnesota ranks 4th – in Fortune 500 concentration.

The largest private company in the country – Cargill – is also headquartered here. Global health care leader Mayo Clinic began in Rochester, Minnesota and still calls our state home. And, global medical device giant Medtronic has its operational headquarters here.

Foreign Investment in Minnesota

Over 1,100 foreign-owned companies – from about 40 countries – are located in Minnesota. Combined, they employ over 170,000 people and have invested over $36 billion in property, plant and equipment in Minnesota. From 2014 to 2019, Minnesota’s FDI employment grew 46%.

A few examples of foreign companies with operations in Minnesota include:

  • Allianz
  • Daikin Applied
  • DiaSorin
  • Doosan
  • Geringhoff
  • Olympus
  • Takeda
  • Rosenbauer
  • UPM
  • Uponor

View all the foreign companies located in Minnesota.

Explore Minnesota’s Rich Regional Diversity

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Minnesota is home to more than 10,000 lakes. We're also home to a diverse economic ecosystem where there's room for everyone to thrive.

Our six major economic regions cover everything from tried and true industries like agriculture and manufacturing as well as up-and-coming industries like FinTech and the Internet of Things.

No matter the industry, Minnesota is all about building what matters. Join us and see how we're solving the problems of the future, today.

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Twin Cities Metro

Minneapolis’s initial global presence was through our flour. Once we were the number one flour producer in the world, but when that industry waned, our city didn’t collapse with it. That one industry helped contribute to the metro’s major presence in advanced manufacturing, finance, agriculture and retail. The Twin Cities has also made a name globally through our medical devices, electronics and processed foods companies.

To learn more, contact:

John Shoffner, 651-259-7445 or
Coleen Eddy

Northwest

The northwest region consists of hearty people inspired by their stunning outdoor environment. Thanks to industry powerhouses like Polaris, Arctic Cat and New Flyer, Northwest Minnesota is a central hub of transportation equipment manufacturing. The northwest is also known for its agricultural contributions. The region is a major producer and processor of food staples and specialty agricultural products from wheat and potatoes to soybeans and sugar beets.

To learn more, contact:

Chet Bodin, 651-218-829-2183

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Northeast

The northeast’s natural resources have played a key part in this region’s economy. Duluth’s access to international waterways helped create a major mining community with iron ore and the region’s abundant forests helped create a robust forest products industry. While mining and forestry have continued to be a significant presence in the northeast, other industries such as health care, aviation and tourism are seeing substantial growth opportunities for the region.

To learn more, contact:

Bradley Brzezinksi, 218-310-7757

West Central

Manufacturing is the name of the game in central Minnesota with several global manufacturing firms operating here like Geringhoff, New Flyer and Essilor of America. The Central region is especially well known for its expertise in food processing, printing, furniture manufacturing, appliances, machinery and heavy equipment manufacturing.

To learn more, contact:

David Heyer, 651-259-7468

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Southwest

Southwest Minnesota’s wide-open prairie grassland has made the region a national leader in agricultural production and renewable energy. The region's thriving manufacturing sector includes food processing, machinery, printing, metal products, computers and electronic products.

To learn more, contact :

Lisa Hughes, 507-344-2601

Southeast

When it comes to health care, one name says it all. Mayo. With the internationally renowned Mayo Clinic headquartered in Rochester, the southeast region is a health care powerhouse. Their presence has helped create a world-class MedTech industry cluster that rivals the coasts. The region is also home to some of the world's most recognized food companies and brands like Hormel and Red Wing Shoes. Advanced manufacturing is also robust, with machinery, chemicals, and electronics among the top products.

To learn more, contact:

Natalie Siderius, 507-205-6069

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