< Previous6 MI NNE SO T A E C O N O MI C D E V E L O P ME N T G U I D EThriving in the North | 2018-2019 | siteselection.com/cc/minnesota 12 Business Climate OverviewThe spirit of cooperation is alive and well in Minnesota. A proven track record of performance is the best evidence. 17 Statistical Profi leThe state has added 330,000 jobs in the past eight years, and it’s just getting started. 22 Interview with LeadershipMinnesota goes out of its way to remove barriers to business growth, says the state’s Deputy Commissioner for Economic Development. 28 Interconnected IndustriesMinnesota is the problem-solving hub of the new economy. Connections between companies, institutions and government play a key facilitating role. 34 Community Profi lesFrom Red Wing and Austin to Thief River Falls and Winona, great things come in small packages throughout the North Star State. 38 Higher EducationWhat can a state with 400,000+ college students accomplish? Anything it sets its mind to. 40 Workforce DevelopmentFrom job skills training programs to apprenticeship initiatives, Minnesota leaves no stone unturned in equipping the workforce of the future. 44 Entrepreneurship and InnovationVenture capital? Check. Incubators? Check. Accelerators? Check. Learn why every box for entrepreneurship is checked in Minnesota. 48 International Trade and InvestmentMinnesota exports are up, as are e orts to open new lanes of trade and commerce around the world for Minnesota fi rms.C O NT E NT S8 MI NNE SO T A E C O N O MI C D E V E L O P ME N T G U I D E 52 InfrastructureWhen it comes to infrastructure, few other states in America can match what Minnesota has to o er. The numbers back it up. 56 Energy and UtilitiesMinnesota o ers a ordable, dependable and sustainable energy for industries of all shapes, sizes and needs. 60 Medical Technology and BioscienceFrom the Mayo Clinic to the medical device sector, Minnesota wrote the book on medical technology and bioscience. 62 Advanced ManufacturingThe products that are made in Minnesota stand the test of time and impact almost every area of our lives. 66 Food ProcessingGeneral Mills, Hormel, Land O’Lakes and Schwan’s — these household names in food processing all call Minnesota home. 70 Water TechnologyMinnesota is not just the Land of 10,000 Lakes. It’s a thriving hotbed of innovative water technology companies and researchers. 73 TechnologyFrom the Internet of Things and data centers to software and telecommunications, Minnesota employs one of the most capable I.T. workforces in the world. 76 Banking, Finance and InsuranceA concentrated cluster of fi nancial services fi rms in the state has produced one of the more successful FinTech centers in America. 80 Quality of LifeOnce people move to Minnesota, they never want to leave. Here’s why. 83 Minnesota SportsThe Vikings, the Golden Gophers and now United FC — The North Star State is the land of impressive sports teams and players. 86 Lakes of MinnesotaWhen you have 11,842 lakes and more shoreline than California and Hawaii combined, it’s hard to be humble. 92 Shovel-Ready SitesMinnesota has what every expanding business needs: a place to grow. 94 Photo GalleryMinnesota is as picturesque as it is vast and full of variety. 103 Index to Advertisers10 MI NNE SO T A E C O N O MI C D E V E L O P ME N T G U I D EON L I N E E D I T I ONTAKE THIS GUIDE WITH YOUENJOYRead the digital edition on your tablet and phone. Click on links for even more information.SHAREShare the magazine on social media with your friends and community.LINKSFeature the magazine on your blog, website or newsletters with a link or one of our easy-to-use tools.siteselection.com/cc/minnesotaThe publishers believe that the information contained in this publication is accurate. However, the in formation is not war ranted, and neither Conway, nor the State of Minnesota, assumes any liability or responsibility for actual, consequential or incidental damages re sulting from inaccurate or erroneous information.PHONE: (770) 446-6996TOLL FREE: (800) 554-5686FAX: (770) 263-8825email: editor@conway.comweb: siteselection.com/cc/minnesotaThis publication is published annually by Conway, 6625 The Corners Parkway, Suite 200, Peachtree Corners, GA 30092 USA. PRINTED IN USA. ©2018 Conway President & Publisher ADAM JONES-KELLEY Executive Vice President RONALD J. STARNER VP of Publications & Editor in Chief MARK AREND Managing Editor of Custom Content SAVANNAH KING Managing Editor ADAM BRUNS Senior Editor GARY DAUGHTERS Art Director SCOTT LARSEN Production Manager BOB GRAVLEE Lead Designers SEAN SCANTLAND, RICHARD NENOFF, NEGIN MOMTAZ Vice President of Sales CHARLES FITZGIBBON Vice President of Corporate Development PAUL TARRANTS Marketing Manager STEPHANY GASPARD Customer Support Manager BRIAN WATSON Circulation Manager JULIE CLARKE Staff Photographer SHAY LA’VEE DIGITAL TECHNOLOGY TE AM Webmaster BEN YAWN Database Administration Manager DANIEL BOYER IT Coordinator MARK BERTRAM12 MI NNE SO T A E C O N O MI C D E V E L O P ME N T G U I D Eegendary Minnesota V ikings quarterback F ran T arkenton carv ed a Pro F ootball Hall of F ame career out of scrambling past defenses and making play after play to win games on the gridiron.I n many way s, he’s the perfect metaphor for the Minnesota business climate: tough, determined, scrappy , smart, clev er, innov ativ e, exceptionally talented and — abov e all — committed to the team.When one tries to describe the unique ecosy stem that Minnesota has built for its businesses, one factor elev ates abov e all others: cooperation. A kindred spirit links gov ernment, businesses and community throughout Minnesota into a patchwork that is unbreakable.B U S IN E S S C LIM A T E O V E R V IE Wby R O N S TAR N ER12 MI NNE SO T A E C O N O MI C D E V E L O P ME N T G U I D EMI NNE SO T A E C O N O MI C D E V E L O P ME N T G U I D E 1314 MI NNE SO T A E C O N O MI C D E V E L O P ME N T G U I D EBusinesses are philanthropic, engaged and supportive of many community and workforce endeavors. They nurture and financially support startups. They fund incubators and accelerators like the Techstars Retail Accelerator and the Techstars Farm to Fork Accelerator.Government plays its role by incentivizing growing businesses through the Minnesota Job Creation Fund and the Minnesota Jobs Skills Partnership training grant programs. Since the Job Creation Fund was launched in 2014, some 91 business expansion projects have committed to investing more than $1.2 billion and creating 5,588 full-time jobs across the state.The result of all this cooperation and teamwork is a business climate that excels on virtually every measure. The state has added 330,000 jobs over the past eight years (2009-2017), and Minnesota has increased its gross domestic product by 18 percent (adjusted for inflation) to $351.1 billion over the same time period. CNBC ranked Minnesota No. 6 in its annual Top States for Business this year, while 24/7 Wall Street named Minnesota the 7th Best Economy for 2018.Other accolades have been pouring in consistently:• The Twin Cities rank first in Fortune 500 Companies Per Capita, according to Fortune.• 24/7 Wall Street named Minnesota the Best-Run State in America in 2017.• Minnesota ranks first in 5-Year Business Survival Rate, according to the Bureau of Labor Statistics, from 2012 to 2017.• U.S. News & World Report named Minnesota the 2nd Best State Overall for 2018.The number of jobs the state has added over the past eight years (2009-2017)330,000Minnesota ranks first in 5-Year Business Survival Rate, according to the Bureau of Labor Statistics, from 2012 to 2017Forbes named Minnesota the 3rd Most Charitable State in 2017Politico named Minnesota the 2nd Strongest State in the Nation for 2018• Politico named Minnesota the 2nd Strongest State in the Nation for 2018.• Forbes named Minnesota the 3rd Most Charitable State in 2017.These are not arbitrary numbers. They reflect the actual performance of real companies that provide gainful employment to countless workers and their families across the state. Case in point is Daikin Applied Americas Inc., which announced recently that it would invest $40.3 million to expand its manufacturing operations in Faribault and create 132 jobs.The company is buying an existing 300,000-square-foot warehouse and renovating the building into a state-of-the-art production facility. The new jobs will pay an average wage of $22.20 an hour — jobs that are being made possibly partly by assistance from the Minnesota Job Creation Fund grant and a Minnesota Job Skills Partnership training grant. Altogether, the state is kicking in $2.35 million in assistance to help the international HVAC company grow.The parent company of Daikin is based in Japan and is indicative of Minnesota’s broad outreach to attract and retain foreign direct investment.Numbers alone, however, don’t tell the whole story. At the root of Minnesota’s economic surge is its people, a unique set who are bound together by talent, loyalty and drive. When Harvard Business Review recently set out to measure the cities in America that job applicants were and were not willing to leave, guess which place rose to the top?You guessed it: Minneapolis-St. Paul. Barely 20 percent of job applicants in the Twin Cities were looking to land a job elsewhere, placing the largest MSA in Minnesota alongside Atlanta, Las Vegas, Seattle and New York in the rankings.“The productivity and loyalty and commitment of the Minnesota workforce is our No. 1 location attribute.”— Kevin McKinnon, Deputy Commissioner of Economic Development, Minnesota DEEDNext >