With one of the most diverse economies in the nation, the Land of 10,000 Lakes offers just about as many opportunities for business success – something that scores of British companies already know first hand.

In fact, the UK is Minnesota’s single largest source of foreign direct investment. More than 125 British companies have affiliates in Minnesota. Combined, they boast a gross value of $1.8bn and employ about 17,000 workers. Major firms include Cannon Equipment Company (IMI plc), Deltec (Smiths Industries plc), First Student (First Group), IMI Cornelius (IMI plc), Pearson NCS (Pearson plc), and Syntegra (BT). In addition, the UK retains an honourary consul in Minnesota, and the British-American Business Council has an active chapter here as well.

So what makes Minnesota such an attractive place to invest? For starters, a strong, diverse economy, an educated workforce and a superb quality of life. Consider the following:

BUSINESS-FRIENDLY CLIMATE
Government-imposed business costs are at their lowest in more than a decade, with significant reductions in workers’ compensation and unemployment insurance costs, and a deep cut in commercial property taxes. And businesses are reaping the benefits of tax-free development by locating or expanding in one of Minnesota’s 10 Job Opportunity Building Zones.

PROVEN PERFORMANCE
Minnesota consistently receives top grades for economic performance, development capacity and business vitality from the Corporation for Enterprise Development. And Expansion Management magazine ranks the Twin Cities region as the fourth-best metropolitan area in the US for locating a company.

RENOWNED WORK ETHIC
Minnesota ranks as the nation’s “hardest-working” state, with the highest labour force participation rate in the nation and 75% of working-aged people in the labour force.

EXCELLENCE IN EDUCATION
A University of Florida report in 2003 ranked the University of Minnesota among the nation’s top 10 in total research spending, placing it ahead of such top research institutions as Harvard and Massachusetts Institute of Technology.

FERTILE GROUND FOR INNOVATION
The Milken Institute ranks Minnesota eighth nationwide in the State Technology and Science Index, based on research and development inputs, risk capital and infrastructure, technology and science workforce. The Twin Cities metropolitan area ranks seventh in high-tech job growth, and 10th among the most competitive knowledge regions in the world, based on indicators like the number of patents,
number of managers as a percentage of total population, and per capita spending on education.

BEST IN THE BUSINESS
Minnesota is home to 19 Fortune 500 companies. The Forbes list of “400 Best Big Companies in America” features 14 Minnesota companies, and 10 companies made the magazine’s list of “200 Best Small Companies”. 3M earned the Environmental Excellence Award for its leadership in waste reduction and energy efficiency. Comparing financial indicators, Industry Week included eight Minnesota companies in its list of the top 50 US manufacturers.

A MOST LIVABLE STATE
Minnesota’s cultural attractions, outdoors recreation and scenic landscapes, along with affordable housing, safe streets and strong education system, helped propel the state – for seven of the past eight years – to the top of Morgan Quitno’s “Most Livable State” rankings. The report Kid Friendly Cities in 2004 ranks Minneapolis the fifth-best city in the country. Minnesota ranks first in the nation in home ownership (77.3%) and seventh in per capita income.

Economic conditions may change, but the stature, stamina and leadership of Minnesota remains constant. With all these advantages, it’s no wonder that so many of the world’s most-recognised companies call Minnesota home. Many British affiliates are among them. But there is room for many more in Minnesota, the land of 10,000 opportunities.

Department of Employment of Economic Development
390 North Robert Street
St Paul, MN 55101
Tel: +1 651 296 3711
Fax: +1 651 296 0994
Website: www.dted.state.mn.us