Why the Minnesota Technology Corridor?
Stats & Facts:
- The tech sector has an estimated direct economic impact of $31.1 billion, or about 9.3 percent of Minnesota’s total economy. (CompTIA’s 2019 Cyberstates Report)
- Minneapolis/Saint Paul is home to more than 136,000 tech jobs – twice as many as Charlotte or Columbus and more than 60% higher than Austin (EMSI 2018.4)
- Minneapolis/Saint Paul is one of the largest and fastest growing tech regions in the country, especially in the finance industry, with a 52% growth rate in tech jobs in credit intermediation over the last five years. (EMSI 2018.4)
- Minneapolis/Saint Paul has positive net migration in tech talent, unlike many other Midwest metro areas and large metro areas across the nation. Minneapolis/Saint Paul draws tech talent from Chicago, Des Moines, and other midwestern metros. (GREATER MSP analysis of LinkedIn user data 2019)
- 10,000+ STEM students graduated in Greater Minneapolis/Saint Paul in 2017 alone. (EMSI 2019.1)
- MN Cup, the largest statewide startup competition in the country, has supported more than 10,000 entrepreneurs, including high tech finalists that have raised tens of millions of dollars to spur local innovation and job creation. (MNCup 2017)
- Minneapolis/Saint Paul is a top tech city in North America, according to Cushman & Wakefield’s Tech Cities report.
- Minneapolis/Saint Paul is a Top 10 US City for Entrepreneurs and Startups. According to Business.org (2018), “The real story here is Minneapolis’s start-up growth—a remarkable 121.3%, the highest of our top 10. In contrast to the state’s inexpensive cost of living, Minnesota’s tech pay is almost twice as high as the average state wage.”
- Forrester Research named the Twin Cities a top tech talent market in 2018.
- Inc. Magazine in partnership with Startup Genome ranked Minneapolis/Saint Paul #1 in the country for net business creation.
- Minneapolis/Saint Paul is the #2 “Best of the Midwest” startup city, according to M25’s rankings. The region scores high on startup activity and access to resources such as talent, investors, accelerators, universities, and government support.