11 Reasons to Move Your Business to the Twin Cities
Location is critical to attracting and retaining the best talent while effectively managing operations. Before you determine how to move your business to a new place, you must decide where. Nowadays, more and more companies are considering the Twin Cities to jumpstart their success.
Why Move Your Business to the Twin Cities?
Looking for a change? Here are our top reasons to consider relocating your business to Minneapolis or St. Paul:
You’re in Good Company
Nearby corporations are essential to consider when reviewing your moving business location checklist. Industry leaders attract top talent, and many invest in smaller and mid-sized companies.
High Quality of Life
Local business moving companies will tell you – the Twin Cities is a beautiful place to relocate a business. And top publications agree: Forbes previously ranked Minnesota third for “quality of life” on its “Best States for Business” list. You can attribute that to the top-rated parks, access to leading healthcare systems, diverse educational programs, and more.
If you’re considering moving your business to Minneapolis, you’ll have a front-row seat to character and culture. Moving to the Twin Cities means access to two distinct metropolitan areas. There’s something for everyone, from the historical neighborhoods around Summit Avenue in St. Paul, the craft breweries in Northeast Minneapolis, and the thriving arts scene across both cities.
Are you looking for peace and quiet? The suburbs offer more options for employees with families.
Opportunities for Growth
The corporate income tax rate is important when selecting your business’s new location. Minnesota’s income tax rate is on the high end. The average cost of doing business in the Twin Cities is 3% higher than the national average. However, the state offers many economic development tools to incentivize new and expanding businesses to come here.
Job growth is historically positive, with economic opportunities statewide that make a business move to Minneapolis or St. Paul a wise choice for many industries.
Major Industries are Headquartered Here
What are the major industries in Minnesota? They include tried and true industries, such as medical, financial, retail, agriculture, packaged goods, energy, and technology. But there are also up-and-coming industries, including FinTech.
Growing Talent Pool
Before relocating a business, you want to understand its local demographics. Minnesota is one of the few states in the Midwest to grow in population, which is good news for the Twin Cities business scene. With an educated workforce, robust connections, and mentorship opportunities, there are plenty of recruitment possibilities as you look to expand your team.
Because of its diverse population, over 100 languages are spoken in the Twin Cities, including Spanish, Somali, Hmong, Chinese, Vietnamese, German, and French. All of these diverse backgrounds directly contribute to Minnesota’s strong economy and inclusive growth.
Great Place for Start-Ups
Minnesota is a smart place to grow a new idea. Recent data shows that a new business started in Minnesota is “more likely to survive beyond five years than anywhere in the country” (MN Government).
Connected Public Transportation
The Twin Cities has multiple transportation options, including the light rail and bus, making commuting easy for anyone who needs to come into the office. A series of skyways connects downtown Minneapolis to make the winter months more bearable. And plenty of biking lines exist for those who want a greener way to get to work.
Evolving Tech Hub
There are a growing number of tech companies in Minneapolis, making up 10% of the state economy. Some of the names you may recognize? DailyPay, Code42, and Flywheel. Minneapolis/St. Paul is a “top tech city in North America” (Cushman & Wakefield’s Tech Cities report).
Businesses do better in places with a strong economy. Luckily, the Minnesota economy is currently ranked the “Second Best State for Economic Opportunity” in the United States.
Why Does MN Have So Many Fortune 500 Companies?
Today, 16 Fortune 500 companies call the Twin Cities home, inspiring more companies to move to Minneapolis (and the surrounding areas). It’s a “headquarters economy” for Twin Cities businesses, with corporate giants like 3M, Target, General Mills, and Best Buy residing here.
Move Your Business With AAA Movers
Inspired to try out a new city? Well, what’s stopping you? A new start in a thriving metropolis might be just the fresh energy your business needs.
Not sure how you’ll get there? AAA Movers is a trusted moving company for the Twin Cities and beyond. Our dedicated team will help you complete a business moving checklist. Then, we’ll work with you to get you and your team into your new work home.
Interested? Request a free quote today! Our team can execute your move with minimal interruption to your day-to-day operations. We even offer top-notch employee relocation to smooth the transition for everyone involved.