Ioana Neamt | CP Executive
Minneapolis-St.Paul—The Twin Cities economy seems to have recovered well from the financial crisis that hit the U.S. back in 2008. The Star Tribune reports that economic growth in the Twin Cities was 2.5 percent in 2013, compared to a 1.7 percent national average. Chicago is currently the only Midwestern city with a larger economy than the Twin Cities. All evidence seems to show that the Minneapolis-St. Paul area has become a popular destination for investors, developers and residents alike.
The Minneapolis-St. Paul area benefits from a wide variety of industries, attracting investors and new businesses in sectors such as healthcare, manufacturing, agriculture, education and technology. Some of the largest employers in the area include Target Corp., UnitedHealth Group, Best Buy, the Mayo Clinic, U.S. Bancorp and Cargill.
The Twin Cities’ strong economy and skilled workforce, as well as its diverse range of profitable industries are attracting investors to the metropolitan area, according to a market report by Marcus & Millichap. Major employers in the area such as UnitedHealth Group, Target and Wells Fargo have already begun expanding their corporate offices.
Furthermore, as many as 42,000 jobs are to be delivered in the area in 2014, including 8,000 new office jobs. There is a growing demand for office space in the Minneapolis-St. Paul metro area, especially in the I-494 Corridor and I-394 Corridor submarkets. Read more