Minnesota

State Profile

British-owned firms are thriving in Minnesota, from engineering services, consumer lending, medical devices, civil engineering construction, commercial printing, pharmaceuticals, environmental consulting and more.

In fact, Minnesota-affiliated companies with UK corporations employed the second-largest number of workers (14,900) among the state’s foreign affiliates, based on data by the Bureau of Economic Analysis at the U.S. Department of Commerce.

Nearly 270 establishments in Minnesota are affiliates of British firms. Major firms include G4S Government Solutions, First Student Inc., NCS Pearson Inc., Reed Elsevier, InterContinental Hotels Group and Signature Flight Support Corp. In addition, the UK retains an honorary consulate in Minnesota.

The UK is Minnesota’s ninth-largest export trading partner and, in 2013, Minnesota-based firms exported $528 million worth of products to the UK.

ENVIABLE BUSINESS CLIMATE
Minnesota has a strong and vibrant economy, ranking sixth in a CNBC study of “America’s Top States for Business 2014”. Minnesota was especially high in economic strength, infrastructure and quality of life. The state ranked third in Forbes magazine’s 2014 list of “Best States to Make a Living”.

Companies announced 53 expansion projects in Minnesota in the first half of 2014, committing to spending more than $323 million and creating nearly 2800 jobs. The companies include Shutterfly, Andersen Corp., Cardiovascular Systems and Polaris Industries.

TIRELESS WORK ETHIC
Minnesota had the third highest labour force participation rate in the nation (70.1 per cent) in 2013, while Minneapolis-St Paul had the second-highest labour force participation rate (71.1 per cent) among the largest US metropolitan areas in 2012.

A+ EDUCATION
Minnesota ranks second in the nation for the percentage of the population aged 25 and older holding a high school diploma or equivalent (92.5 per cent), according to 2012 data by the U.S. Census Bureau. The state also ranks 11th in the percentage of people with a bachelor’s degree or higher (33.2 per cent).

Residents also enjoy high literacy rates. In 2013 Central Connecticut State University ranked Minneapolis as the third-most literate city in the US and St Paul as the seventh-most literate.

MATCHLESS INNOVATION
Minneapolis is the ninth-most “inventive” city in the world, according to a 2013 article by the OECD. Minnesota’s innovation is also demonstrated by patents per capita, ranking fourth nationwide in 2013 and ninth in overall number of patents (20,271) between 2009 and 2013.

IMPRESSIVE CORPORATE MIX
Minnesota has a broad mix of companies, enabling the state to weather economic downturns better than other regions with economies that are more one-dimensional. The state has 18 Fortune 500 companies specialising in such areas as healthcare, financial services, retail and food production. The list includes Target Corp., General Mills, Medtronic, UnitedHealth Group and 3M. Agricultural commodities giant Cargill Inc., the largest privately held company in the country with estimated annual revenue of $137 billion in 2013, is headquartered in Minneapolis-St Paul.

FIRST-CLASS AMENITIES
The Minneapolis-St Paul Airport (MSP) is the second-best airport for travel amenities, according to a 2013 survey by Travel Leaders Group. MSP offerings include Wi-Fi, a fitness walking path, FedEx and quiet seating areas for reading and resting.

Minneapolis is one of the most Wi-Fi friendly metro areas in the US, ranking first in the number of hot spots per 100 people, according to a 2013 article by PC Magazine.

LIVING THE GOOD LIFE
Minnesota is the second-happiest state, according to a 2014 report by WalletHub. The state not only ranks at the top in emotional and physical well-being, but also gets high marks for job satisfaction and for community, environmental and recreational activities.

Minnesota ranks fifth nationwide in child well-being, according to the 2014 Kids Count report. Rankings consider indicators such as economic well-being, education, health, and family and community.

Further Information

For more information, contact:

Laurence Reszetar
Director, Foreign Direct Investment

Tel: +1 651-259-7488
Email: Laurence.Reszetar@state.mn.us
Website: www.mn.gov/deed

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