From the Governor
“Minnesota’s success is not by chance. Our investments in education, healthcare and community prosperity make Minnesota a great place to live, work, and raise a family but we can still do better. I’m committed to working together to make life even better for all Minnesotans and continuing to invest in the things that make Minnesota one of the best states in the country.”—Gov. Tim Walz
Thriving in the North
The Land of 1,000 Lakes continues to attract Fortune 500 organizations and is now home to 17 Fortune 500 headquarters. Companies continue to expand in the state for its quality of life and skilled and educated workforce. Recent investments and expansion have included Dakin Applied Americas, Uponor North America, Upsher-Smith Laboratories, Northrop Grumman and Renewal by Anderson.
Job Creation Fund: Offers financial incentives to new and expanding businesses that meet certain job creation and capital investment requirements.
Minnesota Investment Fund: Offers financing to help add new workers and retain high quality jobs on a statewide basis with a focus on industrial, manufacturing, and technology-related industries.
Greater Minnesota Business Development Infrastructure Grant Program: Helps stimulate economic development and create nw jobs through investments in public infrastructure. Offers grants of up to 50% of the capital costs of the infrastructure necessary to expand or retain jobs in the area.
Redevelopment Grant Program: Offers funds to pay up to half of the redevelopment costs to put commercial sites or land back to productive use. Grants pay up to half of the redevelopment costs with a 50% local match for qualifying sites.
Minnesota Department of Employment and Economic Development: mn.gov/deed
Minneapolis St. Paul Regional Economic Development Partnership: greatermsp.org
Rochester Area Economic Development: www.raedi.com
Duluth Economic Development Authority: dulutheda.org
Highlighted Program or Initiative
Launch Minnesota supports a series of initiatives designed to accelerate the growth of high technology companies in the state. It is designed to lower the risk required to fund, start or grow businesses in the state and will bring all relevant initiatives together under a single office.
- Daikin Applied Americas announced in September 2018 a $40 million expansion and 900 new jobs at its operations in Faribault.
- Uponor North America opened in May 2019 a $32 million manufacturing facility with 140 jobs in Hutchinson.
- Northrop Grumman announced in May 2019 an expansion and 60 new jobs at its facility in Plymouth.
- Renewal by Anderson broke ground in July 2019 on a $35 million expansion and added 125 jobs at their manufacturing facility in Cottage Grove.
- Upsher-Smith Laboratories is expanding operations at its Maple Grove campus with completion slated for late 2020.
17 Fortune 500 companies headquartered in the state:
“We appreciate the cooperation and assistance of the civic leaders in St. Paul and Minnesota to help make this project happen.” —Mike Schwartz, CEO, Daikin Applied
“The expansion incentive funds through the state were differentiators for Uponor’s recent growth and ability to create jobs in both Apple Valley and Hutchinson. If it weren’t for these state resources, we may have considered expanding in another state or country.” —Bill Gray, President, Uponor North America