|
 |
|
||||
|
|
www.ci.minneapolis.mn.us/business/ Community Profile of Minneapolis Location & Access Minneapolis is the largest city in Minnesota and the government center of Hennepin County. The city occupies both banks of the Mississippi River, just north of the river's confluence with the Minnesota River. Dubbed the “City of Lakes” for its dozens of lakes and waterways, Minneapolis shares its eastern border with Saint Paul. Together, they are referred to as Minnesota’s “Twin Cities.” Minneapolis is intersected by three major Interstates (35W, 94 and 394) and encircled by two others (494 and 694). A highly developed network of U.S. and state highways – including three four-lanes – provides ready access to a region-wide workforce. Downtown is connected to the Minneapolis/Saint Paul International Airport via the Hiawatha Light Rail Transit.
Major Industries & Employment As the primary business center between Chicago and Seattle, Minneapolis has one of the most robust business climates in the country. It draws its strength from a diverse economic base built on commerce, finance, rail and trucking services, healthcare and manufacturing. Smaller sectors include publishing, milling, food processing, graphic arts, insurance and high technology. Primary industrial outputs include metal and automotive products, chemical and agricultural products, electronics, computers, precision medical instruments and devices, plastics and machinery. The city is home to five Fortune 500 companies: Target Corporation, U.S. Bancorp, Xcel Energy, Ameriprise Financial, and Thrivent Financial for Lutherans. Fortune 1000 companies include Valspar Corporation and Donaldson Company. The Federal Reserve’s Ninth District headquarters is in Minneapolis. Minneapolis is a major economic driver for the Metro MSP region and the state. The University of Minnesota is the largest employer with a workforce of 25,000. The city counts Target, Wells Fargo, Ameriprise, Macy's, Star Tribune, U.S. Bancorp, Xcel Energy, IBM, Piper Jaffray, RBC Dain Rauscher, ING Group and Qwest among its major employers. Large healthcare employers include Allina and Fairview Hospitals. Several prominent agricultural processing firms got their start in Minneapolis, including Cargill, Archer Daniels Midland and General Mills. All three continue to operate large facilities here. The Minneapolis Grain Exchange has operated for more than 125 years. The city’s economic vitality is fueled in part by its investments in technology. “There is no other city in America where a culture of high technology has a more pervasive presence,” wrote Popular Science, which named Minneapolis the “Top City for Technology” in 2005.
Population & Workforce The Metropolitan Council, the Twin Cities regional governance body, estimated the Minneapolis population at 388,020 in 2007. Population projections show a healthy increase of almost 11% by 2020. Labor force estimates were 213,478 in the second quarter of 2008, according to Minnesota Department of Employment and Economic Development data, and projected to grow. For the latest demographic and market trends, view the Minneapolis Trends Quarterly Report. Minneapolis is nationally recognized for its highly educated workforce. The city topped the list of “America’s Most Literate Cities” in 2007. The same year, it was named “Sixth Most Educated City” in the U.S. by Encarte Online. Young knowledge workers find the city especially appealing. Forbes ranked Minneapolis the “Eighth Best City for Young Professionals” in 2006. The year before, Kiplinger’s named it one of “America’s Seven Coolest Cities” – based on its large population of under-30 professionals, solid job market, and affordable cost of living. Labor Force Profile of Minneapolis
Transportation Minneapolis/Saint Paul International Airport is located just southeast of the city between Interstate 494 and Minnesota Highways 5, 77 and 62. The airport serves three international, 12 domestic, seven charter and three regional carriers. It is a hub and home base for Northwest Airlines, Mesaba Airlines and Sun Country Airlines. Competitive freight air service and Foreign Trade Zone incentives are available. Daily rail freight service is provided by four railways: BNSF, -->Canadian Pacific -->, Union Pacific and Twin Cities & Western. Amtrak's Empire Builder passenger train between Chicago and Seattle stops daily in each direction at nearby Midway Station in Saint Paul. The Hiawatha Line Light Rail Transit (LRT) connects downtown Minneapolis to the airport and the Mall of America. It serves an average of 34,000 riders per day. The planned Central Corridor LRT will connect downtown to the University of Minnesota and downtown Saint Paul. It is expected to be completed in 2014. The Northstar commuter rail line will shuttle more than 5,000 daily commuters between downtown and Big Lake, starting in 2009. An extensive bus system featuring commuter and high-frequency routes also is available. Seven miles of enclosed pedestrian bridges, called “ skyways,” link 80 city blocks of downtown Minneapolis. This skyway-level maze caters to the needs of residents and workers all year around. Ten thousand cyclists use city bike lanes each day – the second highest commuter participation among large American cities. Many even ride in the winter. To encourage this green and growing trend, the city expanded its bicycle trail system to include 63 miles of off-street commuter trails. It also dedicated 37 miles of bike lanes on city streets. Saluting the city's use of bicycle lanes, buses and light rail, Forbes identified Minneapolis as the “World's Fifth Cleanest City” in 2007.
Utilities Minneapolis offers commercial users reliable, competitively priced utilities. Xcel Energy supplies electricity, CenterPoint Energy supplies gas, the city treats and distributes water, and the Metropolitan Council treats wastewater. Qwest is the landline telephone provider, and Comcast provides cable service. City-wide wireless Internet began in 2007 – part of the City’s commitment to technology infrastructure.
Quality of Life Minneapolis is routinely recognized as one of the healthiest, most educated, greenest, cleanest, most family-friendly, livable cities in the country. In 2007, Forbes named it the most affordable place to live well in America, based on affordable housing, high quality of life and access to arts, leisure and entertainment offerings. Cooking Light followed suit, praising its hip, cosmopolitan vibe wrapped up in Midwest friendliness. A year earlier, American Style recognized Minneapolis as one of Americas Top 25 Arts Destinations. And Frommers named it one of the Top 12 Travel Destinations in the world. A magnet for creative talent, Minneapolis has given birth to one of the most vital arts and cultural communities in the nation.
Minneapolis also is a destination for major sports. The Minnesota Vikings NFL team, Minnesota Twins baseball franchise and University of Minnesota’s Golden Gophers football team play in the Metrodome – where the Twins won the World Series in 1987 and 1991. The Twins are building a new ballpark downtown, which will open in 2010.The Minnesota Timberwolves brought NBA basketball back to Minneapolis in 1989, followed by the Minnesota Lynx WNBA team in 1999. They both play downtown in the Target Center. For more lifestyle details on Minneapolis, visit www.minneapolis.org. To read about the people behind the remarkable statistics, visit The Line, a weekly web magazine that chronicles breaking news “in entrepreneurship, design, environmentalism, the arts, retail, urbanism, neighborhood vitalization and revitalization.”
Demographics The area’s legendary Scandinavian roots have been augmented in recent decades by immigrants from around the world, including large Somali and Hmong communities. More than 100 languages are spoken in Minneapolis public schools. Demographic profile of Minneapolis
Consumer Spending Consumer Spending profile of Minneapolis
Colleges & Universities Art Institutes International Minnesota College of St. Catherine, Minneapolis Campus Dunwoody College of Technology Hamline University, Minneapolis Campus Metropolitan State University, Minneapolis Campus Minneapolis College of Art and Design Minneapolis Community and Technical College Saint Mary’s University, Minneapolis Campus University of St. Thomas, Minneapolis Campus
Economic Development Contact Kristin Guild
www.ci.minneapolis.mn.us/business
|
|
