Location
The “Twin Cities” of Minneapolis and St. Paul form the core of a metropolitan region encompassing 6,046 square miles and consisting of 13 counties: Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, Washington, Isanti, Chisago, Sherburne and Wright in Minnesota, as well as Pierce and St. Croix counties in Wisconsin.
Forbes magazine identified the Minneapolis-St. Paul metro area as one of its “Best Places for Business and Careers” in the U.S., ranking it 22nd among the nation’s largest metros. (Forbes, 2012)
Population
According to ESRI(1) 2012 population estimates, the Minneapolis-St. Paul MSA’s (Metropolitan Statistical Area) population is 3,325,801.
Income
According to 2012 ESRI estimates, the Twin Cities’ median household income is $61,412.
Housing Prices
The Twin Cities median single-family home price (as of third-quarter 2012) is $181,500 compared with $160,300 in third-quarter 2011. (Source: National Association of Realtors)
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Business Strengths
Major business strengths in the Twin Cities include a highly educated workforce, excellent transportation services, a diverse economic base and available capital. The metro area is home to 19 Fortune 500 companies representing a broad spectrum of industries. The Minneapolis-St. Paul area’s employment base does not rely on any single industry, which allows it to weather recessions and economic downturns in specific industries.
Minnesota was rated the 11th top state for business by CNBC’s “Top Places for Business” in 2012. This rank was based on the cost of doing business, workforce, transportation and infrastructure, education, access to capital and quality of life.
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Footnotes:
1) Environmental Research Systems Institute