Minneapolis, Minnesota, is the largest city in Minnesota, and one of the fifty largest cities in the United States. According to 2004 U.S. Census Bureau estimates, the Minneapolis St. Paul-Bloomington metropolitan area is the sixteenth largest metropolitan area in the United States. It is also the third largest metropolitan area in the mid-western United States. As one might expect, the Minneapolis metropolitan area has a robust business community and vibrant economy. The Minneapolis metropolitan area is home to thirty Fortune 1000 company headquarters, sixteen of which are in the Fortune 500.
Inc. magazine ranked Minneapolis thirty-sixth on its list of "Best Cities for Doing Business" in the United States in the large cities category in 2006. In all three years of Inc. rankings (2004-2006), Minneapolis has ranked in the top fifty cities in the United States. The criteria used by Inc. "emphasizes the robustness of a region's growth".
According to the National Institutes of Health (NIH), Minneapolis ranks in the top 30 cities on the list of U.S. cities who receive the most yearly funding from the NIH..
According to the U.S. Bureau of Labor Statistics, major industries in and around Minneapolis include (ranked by size of workforce):
- Trade, Transportation, and Utilities
- Professional and Business Services
- Educational and Health Services
- Leisure and Hospitality
- Financial Services
The capital of Minnesota, St. Paul, is part of the Minneapolis metropolitan area. As one would expect, state government is a major driving force of the area's economy.
According to the Minneapolis Regional Chamber of Commerce, there are over 1,300 technology-intensive companies in the Minneapolis-St. Paul metropolitan area, giving it one of the largest concentrations of high-technology businesses in the United States.
Residents of the Minneapolis-St. Paul Metropolitan area appreciate that the area has one of the most affordable among large metropolitan areas. According to the Minneapolis Regional Chamber of Commerce, Minneapolis-St.Paul has one of the lowest costs of living among the 25 largest cities in the United States.
The Minneapolis-St. Paul metropolitan area is served by the Minneapolis-St. Paul International Airport (MSP), which ranks 13th in the U.S. and the 18th in the world for passenger volume. Minneapolis-St. Paul International Airport ranks fourteenth in the United States for for nonstop international air travel according to the U.S. Department of Transportation, Bureau of Transportation Statistics.
Some major companies in the Minneapolis metropolitan area include:
- General Mills
- H.B. Fuller
- Minnesota Life Ins.
- Nash Finch
- St. Jude Medical
- St. Paul Travelers Cos.
- Thrivent Financial for Lutherans
- U.S. Bancorp
- Xcel Energy
Some of the major business organizations in the Minneapolis-St. Paul metropolitan area include:
- The Greater Minneapolis Convention and Visitor's Association
- The Minneapolis Regional Chamber of Commerce
- The Minnesota High Tech. Association (MHTA)
- The Saint Paul Area Chamber of Commerce
- The Saint Paul Convention and Visitors Bureau
The Minneapolis/St. Paul Business Journal, the Business Section of the Star Tribune, and the Business Section of the Pioneer Press are excellent sources of information on business in the Minneapolis-St. Paul metropolitan area.