Minneapolis drone shot
Image Caption
Downtown Minneapolis  / Paul Vincent

Locate and Expand in Minnesota

With the top health tech cluster in the world, a dynamic and growing manufacturing sector, one of the most educated and active labor forces in the country, and the fourth most Fortune 500 companies per capita in the country, conditions are ripe for your business to find its place in the Star of the North.

STATE OF BUSINESS
EXPANSION IN MINNESOTA

968 – new projects 

48,018 – new jobs (non-construction) 

2,058 – retained jobs

$21.9 billion – new investment 

42.9 million – new square feet 

Over 60% – percentage of industry expansion in manufacturing, headquarters, and research and development  

Source: MN DEED (2018-2023) 

 

MINNESOTA BUSINESS
EXPANSION STORY:
POLAR SEMICONDUCTOR 


Bloomington-based Polar Semiconductor, a semiconductor manufacturer providing high-voltage semiconductors, recently announced a $525 million investment to expand its manufacturing operations in Minnesota. As part of that investment, the company received a one-time $75 million investment from the State of Minnesota and $120 million from the U.S. Chips and Science Act.  

Hear from the company’s leadership team and employees about why the company is choosing to expand in Minnesota. 


JOIN NOTABLE BUSINESSES IN MINNESOTA

 

“In my career, I have had the opportunity to travel the world, meet with customers where they're at in probably 50 countries, and there is no place in the world I would rather do business than Minnesota.”

— Kristen Knox, CEO, Microbiologics

 

A drone shot of Microbiologics in St. Cloud

Microbiologics in St. Cloud / Paul Vincent

WHY MINNESOTA FOR BUSINESS

In Minnesota, businesses have a legacy of building things that last while changing the global economy for the better. The state boasts an extraordinary concentration of Fortune 500 companies, a fast-growing startup ecosystem, and renowned research institutions fostering innovation. 

Combine that with the best mix of talent, infrastructure, and technology — critical variables for business productivity and success — and you’ll find a state that ranks among the top five in the country for long-term competitiveness. 

In other words, find limitless opportunity in the Star of the North. 

Explore

 

MINNESOTA'S LOCATION
& EXPANSION EXPERTS

The Minnesota Department of Employment and Economic Development (MN DEED)’s Business Development team offers the expertise, resources, and connections to help turn business location and expansion plans into reality. Whether your plans involve expanding an existing business, relocating from another state, or consolidating or establishing a new operation in Minnesota, MN DEED can help make it happen.   

The MN DEED Business Development team assists companies at any point in the location decision-making process by orchestrating solutions, aligning resources, and matching them with the best tools the state has to offer, including: 

  • Assisting with site identification 
  • Helping address site due diligence needs 
  • Facilitating navigation of the permitting process 

Contact Us

 

NAVIGATE PERMITTING IN MINNESOTA

The State of Minnesota offers an interagency team with permitting and regulatory expertise to assist complex business location and expansion projects called Minnesota Business First Stop.

This team, which consists of representatives from numerous state agencies (e.g., Departments of Commerce, Transportation, Labor and Industry, and Agriculture), works with business leaders and their site selection, permitting, and environmental consultants to answer and direct companies through the licensing, regulatory and permitting process.  

Companies looking for permitting support should contact the team at [email protected], who will arrange a meeting or assist you however possible, including connecting you with the right people and the best resources to support your efforts. If preferred, call the MBFS team at 1-855-893-2099 or submit this Electronic Inquiry Form

 

TAX CREDITS, INCENTIVES & FINANCING 

Minnesota is highly competitive in offering business-friendly incentives, grants and loan programs to support private industry, from workforce training to new equipment purchases. Two examples of incentives available via the state include the Minnesota Job Creation Fund, which provides grants of up to $1 to $2 million to help businesses grow and create jobs, and the Minnesota 21st Century Fund, which makes loans or equity investments in innovative mineral, steel, or other industry processing, production, manufacturing, or technology projects located in the taconite relief tax area

The State’s dedicated Business Development team at the MN DEED can assist with identifying the right opportunity for you at a state level, as well as connecting business leaders with relevant city- and county-level tax credits and incentives. 

 

Polar Semiconductor, Bloomington

Polar Semiconductor, Bloomington / Credit: Paul Vincent

RECRUIT, TRAIN &
DEVELOP YOUR WORKFORCE 

Minnesota offers a variety of workforce training and development resources for expanding businesses.   

For example, the Minnesota Jobs Skills Partnership (MJSP) provides grants to businesses looking to offer training for new and existing employees. Through the partnership, companies work with accredited Minnesota educational institutions to develop and implement the training programs. Since 2019, the MJSP has awarded over $32.2 million to train more than 34,000 workers.  

Additionally, MN DEED’s Workforce Strategy Consultants, who design tools and resources to support businesses with workforce solutions, are your partners for training and development needs. Contact the team here

 

Destination Medical Center, Rochester

Destination Medical Center, Rochester / Credit: Paul Vincent

LOCATION & EXPANSION RESOURCES 

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