{"id":246654,"date":"2022-04-21T13:05:03","date_gmt":"2022-04-21T17:05:03","guid":{"rendered":"https:\/\/chiefexecutive.net\/?page_id=246654"},"modified":"2025-02-13T14:45:47","modified_gmt":"2025-02-13T19:45:47","slug":"minnesota","status":"publish","type":"page","link":"https:\/\/chiefexecutive.net\/best-worst-states-business\/minnesota\/","title":{"rendered":"Minnesota"},"content":{"rendered":"\t\t
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CEO Guide to Site Selection<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Minnesota<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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EXPORTING GROWTH<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Minnesota\u2019s exports were up 17 percent in the second quarter of 2024 compared with the same period of 2023, a growing rate topping the national average of 5 percent. The greatest export growth was to Canada and Mexico, primarily driven by vehicles, plastics and food products. Meanwhile, there are new announcements in tech. Meta announced in March 2024 that it will build an $800 million data center and create 1,000 jobs in Rosemount. Polar Semiconductor also announced in May a $525 million expansion and 160 new jobs in Bloomington. It was the first major CHIPS investment for a member of the Minnesota CHIPS Coalition, a group of more than 70 organizations in the state working together to supercharge the state\u2019s robust semiconductor industry. The coalition aims to make the state a top-10 leader in the region for semiconductor learning, development and manufacturing. Minnesota is one of only a few states in the country with an existing semiconductor value chain, and companies already annually export more than $1.2 billion in semiconductor-related components.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\u201cWith a strong job market, families earn more,\nsave more and are able\nto dedicate more time to\ntheir families\u2026. We don\u2019t\njust create jobs in Minnesota\u2014we create good jobs\nthat pay welland provide\nbenefits and offer protections. That has always\nbeen our guiding principle,\nand I am glad to see that\neffort reflected in data.\u201d <\/div>\n\t\t\t\n\t\t\t\t\t\t
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Tim Walz<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
Governor<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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TAXES<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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top corporate income tax<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t#<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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on the Tax Foundation\u2019s State Business Tax Climate Index ranking<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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EDUCATION<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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of adults 25 years of age and older graduated high school<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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of adults age 25 and older have a bachelor\u2019s degree or higher<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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UNEMPLOYMENT RATE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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RIGHT TO WORK STATE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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No<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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QUALITY OF LIFE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t#<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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POPULATION GROWTH<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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increase between\n2020 and 2023\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\u201cMinnesota's support was instrumental in our\ndecision to reinvest in the Twin Cities area. We look\nforward to continued growth as a global healthcare\nleader and a strong partnership with the state and\ncity of Eagan.\u201d\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tBryan Hanson<\/span>CEO, Solventum<\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\u201cWe are very pleased to announce this historic\ninvestment in Minnesota semiconductor manufacturing. Our expanded manufacturing facility\nwill allow us to increase capacity and branch into\ninnovative technologies to serve new customers\nand markets.\u201d\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tSurya Iyer<\/span>President and COO, Polar Semiconductor<\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tKEY INCENTIVES\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Minnesota Investment Fund: <\/strong>Offers up to $1 million to help add new workers and retain high quality jobs, with a focus on industrial, manufacturing and technology-related industries.<\/p>

Minnesota Job Creation Fund: <\/strong>Provides up to $1 million in financial incentives to new and expanding businesses that meet certain job creation and capital investment requirements.<\/p>

Job Training Incentive Program: <\/strong>Offers grants of up to $200,000 to new or expanding businesses with the purpose of training workers quickly and efficiently.<\/p>

Launch Minnesota: <\/strong>A series of grants and initiatives designed to accelerate the growth of high-technology startups and foster a statewide network of education, resources and support for innovators.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tEDCs\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Minnesota Department of Employment and Economic Development
<\/strong>mn.gov\/deed<\/p>

Minneapolis St. Paul Regional Economic Development Partnership
<\/strong>greatermsp.org<\/p>

Rochester Area Economic Development, Inc.<\/strong>
raedi.com<\/p>

Duluth Economic Development Authority<\/strong>
dulutheda.org<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tHIGHLIGHTED PROGRAM OR INITIATIVE\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Clean Economy Equitable Workforce Initiative is a
workforce development program focused on preparing
BIPOC for good-paying construction-related jobs in the
clean energy sector. An initial $3 million investment
in 2024 was allowed to connect community organizations with statewide construction apprenticeship
programs.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tBIG DEALS\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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  • Meta announced in March 2024 that it will build an $800 million data center and create 100 jobs in Rosemount.<\/li>
  • Polar Semiconductor announced in May 2024 a $525 million expansion and 160 new jobs at its Bloomington manufacturing facility.<\/li>
  • Climate technology company Solugen announced in June 2024 it will build a $213 million biomanufacturing facility in Marshall. The project is expected to
    create 56 jobs.<\/li>
  • Leading global healthcare company Solventum announced in October 2024 a $200 million expansion and an estimated 2,000 jobs in Eagan.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    \n\t\t\t\t\t\t\n\t\t\t\t\t\t\tBIG COMPANIES\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    Seventeen Fortune 500 companies headquartered in state, including:<\/p>

    • 3M<\/li>
    • Ameriprise Financial<\/li>
    • C.H. Robinson Worldwide<\/li>
    • CHS<\/li>
    • Ecolab<\/li>
    • General Mills<\/li>
    • Land O\u2019Lakes<\/li>
    • Target<\/li>
    • U.S. Bancorp<\/li>
    • UnitedHealth Group<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

      CEO Guide to Site Selection Minnesota EXPORTING GROWTH Minnesota\u2019s exports were up 17 percent in the second quarter of 2024 compared with the same period of 2023, a growing rate topping the national average of 5 percent. The greatest export growth was to Canada and Mexico, primarily driven by vehicles, plastics and food products. Meanwhile, […]<\/p>\n","protected":false},"author":3405,"featured_media":0,"parent":59194,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-246654","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nMinnesota<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/chiefexecutive.net\/best-worst-states-business\/minnesota\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Minnesota\" \/>\n<meta property=\"og:description\" content=\"CEO Guide to Site Selection Minnesota EXPORTING GROWTH Minnesota\u2019s exports were up 17 percent in the second quarter of 2024 compared with the same period of 2023, a growing rate topping the national average of 5 percent. The greatest export growth was to Canada and Mexico, primarily driven by vehicles, plastics and food products. 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