Minneapolis - St. Paul Market Overview
MINNEAPOLIS-ST. PAUL - A globally competitive place to invest, do business, and live.
GROWTH: Minneapolis is growing almost five times faster than Chicago (U.S. Census). “The key difference is that Minneapolis has maintained a strong economy, far outpacing Chicago and other cities throughout the nation.” (The Chicago Metropolitan Planning Council)
Thriving business environment
• Minneapolis-St. Paul is ranked among the highest in terms of metro areas for small (less than 20 employees), medium (20-499 employees), and large (500+ employees) businesses, according to the US Census Bureau.
• The Minneapolis-St. Paul metro area has the 4th highest concentration of small businesses in the nation, making it the 3rd “Best State to Start a Business.” (Entrepreneur.com)
• Minnesota is #1 for tech-job growth at 8.36 percent, according to Forbes.
• The Twin Cities has the highest employment rate for 18-to-34-year-olds in the country, and among all college-educated workers, Minneapolis had the secondlowest outflow of the 25 largest cities. (Harvard University and UC Berkley)
• As of 2016, Minnesota is home to the top 3 (1st Minneapolis, 2nd Rochester, 3rd St. Paul) “Best Cities for Women in the Workforce” according to NerdWallet. • In 2014, MN had the second highest percentage of people 16-64 who are in the workforce at 81.2%, and is fourth in Highest Labor Force Participation. (Bureau of Labor Statistics)
• 13th largest metro economy in the US with a Gross Metro Product of $200 Billion.
• There are 17 Minnesota-based Fortune 500 companies as of 2015 as well as 29 Fortune 1000 companies.