#40 Minnesota


3.53 out of 10 in Taxation and Regulation

7.47 out of 10 in Workforce Quality

6.29 out of 10 in Living Environment


Healthcare and Manufacturing Growth

In 2013, the Mayo Clinic announced it will spend more than $3 billion over the next 20 years to transform its operations in Rochester. Minnesota is also seeing growth in other sectors. Electronics distribution company Digi-Key recently announced a $250 million investment in a one-million-square-foot distribution center in Thief River Falls. Medical device manufacturer Biomerics plans a 52,000-square-foot facility in Brooklyn Park, while Faribault Foods, a food manufacturer owned by Mexico’s La Costeña, is constructing a $100 million plant in Faribault.

From the Governor

“The credit for our state’s continued economic success belongs to the people of Minnesota. I thank the hardworking Minnesotans and business owners who have made Minnesota home to their families, innovative companies and a great quality of life.” —Gov. Mark Dayton

Key Industries

Exporting, High-Tech, Tourism

Key Companies

Ameriprise
Cloud Peak Energy
Great Lakes Aviation
Hormel
Land O’ Lakes
Mosaic
St. Jude

Key Contacts

Minnesota Department of Employment and Economic Development

Shawntera Hardy, Commissioner
1st National Bank Building
332 Minnesota Street, Suite E200
Saint Paul, MN 55101
651-259-7114
Shawntera.hardy@state.mn.us
mn.gov/deed/

Key Incentives

Minnesota Investment Fund: Provides financing to help add new workers and retain high-quality jobs on a statewide basis with a focus on industrial, manufacturing and tech-related industries.

Minnesota Job Creation Fund: Offers financial incentives of up to $2 million to businesses that meet job creation and capital investment targets.

Greater Minnesota Business Development Public Infrastructure Grant: Assists eligible applicants with the development of public and private infrastructure for business improvement projects and industrial parks.

Data Center Tax Incentive: Offers tax breaks for companies that build data network operation centers of at least 25,000 square feet and invest $30 million in the first four years.

EDCs

Minnesota Department of Employment and Economic Development: mn.gov/deed

Minnesota Economic Development Foundation: mnedf.org

Minneapolis St. Paul Regional Economic Development Partnership: greatermsp.org

University of Minnesota Duluth Center for Economic Development: umdced.com

Highlighted Program or Initiative

PIPELINE (Private Investment, Public Education, Labor and Industry Experience) Program helps develop industry-based, employer-driven training programs in the high-growth sectors of advanced manufacturing, agriculture, healthcare services and information technology.

Big Deals

  • U.S. Bank announced in December 2016 plans to build a $250 million data center in Chaska on the outskirts of Minneapolis.
  • Faribault Foods announced in April 2016 the creation of 125 new jobs and a $100 million expansion at its bean and vegetable canning plant in Faribault.
  • Digi-Key Electronics broke ground in September 2017 on a $250 million, 1 million- square-foot expansion with 1,000 jobs at the company’s facility in Thief River Falls.
  • In August 2017, Amazon opened an 850,000-square-foot fulfillment center in Shakopee and added more than 2,000 jobs.

Big Companies

17 Fortune 500 companies headquartered in state, including:
UnitedHealth Group
Target
Best Buy
CHS
3M
U.S. Bancorp
SuperValu
General Mills
Ecolab
C.H. Robinson Worldwide

C-Suite Testimonials

“We selected our home market for our new, state-of-the-art technology center because the state of Minnesota shares our commitment to customer care and information protection. This new center will employ highly advanced and converged automated infrastructure for our digital and computer needs.” —Jeff von Gillern, Vice Chairman of Technology and Operation Services, U.S. Bank

“When it comes to manufacturing, Minnesota really has a strong supply chain. We can get everything that we need right here—buying locally—in Minnesota. Not every area has the same type of access to supply as we do in Minnesota.” —Traci Tapani, Owner and Co-President, Wyoming Machine

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