While Minnesota is well known as the state of 10,000 lakes, it is far more than that. Minnesota offers a great combination of economic opportunities that make the state one of the best environments for businesses. From Fortune 500 firms to small-size companies and minority and women owned businesses, Minnesota offers a variety of opportunities and benefits.

Minnesota has a competitive advantage over other states in terms of a highly skilled and eager labor force, low rate of absenteeism, training opportunities, and high labor force participation. All of these factors contribute to a strong and healthy labor market. Minnesota's labor force participation has reached 2,839,898 with an unemployment rate of 3.2%.

The state is the home of one of the 30 firms in the Dow Jones Industrial-Average, Minnesota Mining and Manufacturing (3M). With 15 other Fortune 500 companies headquartered in Minnesota- among them Target Corporation, SuperValu, United Health Group, Northwest Airlines, Best Buy, The St. Paul Companies, General Mills, U.S. Bank, Nash Finch, Hormel, and Lutheran Brotherhood - the state ranks 10th among all states. Minnesota's economy is one of the most diverse in the nation with more than 90 percent of all major U.S. industries located in the state.

Nearly 50 million people, one million businesses and 80 thousand manufactures are located within 500 miles of Minneapolis and St. Paul, making it a top U.S. market and an important business hub. The overall health of Minnesota's economy and its potential for future growth makes the state and excellent place for businesses to thrive.

Minnesota consistently ranks as a top location for exporting companies. It can also be for importing as well. Business and government offer a broad range of services to support these activities, from export counseling and shipping, to international legal; accounting and communications expertise.

Minnesota's 25 largest multinational companies derive 32 percent of their total revenues of $21.6 billion from outside the U.S. Not only has Minnesota ranked among the top 10 states in the export of many agricultural commodities, but its manufactured exports, valued at $9.1 billion, have grown 55 percent since 1990. State exports include such high technology products as Medtronic's mechanical heart valve.