Assessing The Business Climate In Minneapolis

Image source: grayline.com

Image source: grayline.com

In 2015, Forbes Magazine named Minnesota as one of the best states for business, citing the Midwestern state’s economic climate and quality of life as one of the best and strongest in the nation. Driving the force behind Minnesota’s strong business and economic climate is the metropolitan area of Minneapolis-St. Paul.

The Twin Cities houses industry giants and small companies making up more than half of the $316 billion gross state product of Minnesota. Several Fortune 500 corporations are headquartered in Minneapolis-St. Paul, including Target, General Mills, 3M, and the UnitedHealth Group. The city’s roster of established enterprises is a key factor that contributes to the healthy business environment in the area.

Its highly educated workforce is another factor that draws business investors and job seekers to the city of Minneapolis. Ranked as the second most literate city in the nation, Minneapolis boasts of an educated and experienced labor force. The city is also highly accessible. Its efficient transportation system allows people, as well as goods and products, to get around easily. Furthermore, the city offers plenty of professional services to support aspiring entrepreneurs to start their own business and to help companies succeed.

Image source: pond5.com

Image source: pond5.com

With a city like Minneapolis, it is no question why Minnesota consistently ranks as one of the best places in the nation for business.

Steve Liefschultz is the chairman and CEO of Equity Bank, a finance company specializing in investment lines of credit and real estate loans in Minnesota. Follow this Twitter account for more updates.

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Minneapolis and Commerce: Reasons for doing Business in the Twin Cities

There are many good things that a person can say about Minneapolis, Minnesota. One of them is being one of the easiest places to do business. The entrepreneurial community in the city is strong and diverse. The variety is built on the premise that there are numerous companies in the area—be it large or small, startup or seasoned, and traditional or innovative.

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Many industries thrive the area, including finance, merchandising, and education. Minneapolis supports innovation and new ideas; that is why it has become a melting pot for many breakthroughs and business feats. Harvard Business Review even ranked Minnesota as the second most conducive state for innovators.

The workforce in Minneapolis is also top notch because the majority are well educated and experienced. In a population of about half a million, the labor force numbers to more than 300,000. In fact, Minneapolis is at the top of the list of “smartest people” and “America’s most literate cities.”

The Twin Cities also has numerous colleges and universities where businesses can their new employees (and future leaders) from. It is also home to senior business pundits—from patent attorneys to classy designers—that companies need for their ventures to succeed. Finally, it is also one of the first cities to provide its residents, businesses, and visitors access to a wireless connection anywhere in the district so that people can stay connected all the time. Reports show that Minneapolis has the second fastest broadband speed in the country.

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