Foreign Investment in Minnesota
Nearly 720 foreign companies operate in Minnesota, employing nearly 101,000 people. In fact, Minnesota is a business location for about 15 percent of all foreign-owned companies operating in the United States.
In the past two years alone, foreign-owned companies have invested $337 million in 31 projects and created 1,670 jobs in the process.
Manufacturing is the backbone of Minnesota's economy. The state is especially strong in high-tech manufacturing, including computers and electronics, medical devices and vehicles.
· Food processing is a manufacturing mainstay and many of Minnesota's most recognized brands on grocery shelves in the Americas, Asia-Pacific, China and Europe.
· Manufactured exports were about $20 billion in 2014.
Minnesota's most important asset - and its key competitive advantage for companies of all kinds - is a workforce known for high skill, high productivity, high motivation and low absenteeism. The state's labor force participation rate (70.4 percent) is the third-highest in the nation. It exceeds the U.S. rate of 63.3 percent and is higher than the rates of several foreign countries.
A high-quality workforce can only come from a high-quality education system. The state has more than 200 public and private universities, colleges and technical schools that enroll about 385,000 students each year.
The University of Minnesota ranks 13th in the nation for research and development expenditures ($847 million) across all fields.
A key logistical advantage to a Minnesota location is the ability to source raw materials, components and finished products from a tremendous wealth of supplies within the state. Our Made in Minnesota manufacturers supply chain database makes it easy for Minnesota companies to find and be found by homegrown suppliers.
Remzi Guvenc Kulen Esq.
Kulen Law Firm, P.C.