But far from being an economic wasteland, the Twin Cities of Minneapolis and St. Paul have one of the most diverse economies for a metro area it's size.
Who are the Major Employers in Minneapolis and St. Paul?
Many Fortune 500 companies were founded in Minnesota, and the educated workforce, the perception of Midwestern honest hard work, and the harsh winters where there's not a whole lot else to do but work, attracts all kinds of businesses to the area.
Minneapolis and St. Paul are home to the headquarters of some of America's largest companies. Healthcare, finance, and retail dominate, and technology, transportation and food companies are nearly as important to the Twin Cities economy. Major employers in the Minneapolis/St. Paul metro area include Target, Cargill, General Mills, Seagate, UnitedHealth, Xcel Energy, 3M, Ecolab, Travelers Insurance, Wells Fargo Home Mortgage, Ameriprise Financial and Best Buy.
Small businesses are also very important to the local economy, enjoying strong support from local residents and taking advantage of the Twin Cities' connectedness to the rest of the Midwest, America, and the rest of the world.
The diversity of the Twin Cities' economy helps the job market in Minneapolis and St. Paul to resist economic downturns better than more focused other metro areas. It also makes it attractive to families relocating from other areas, with more employment options if family members work in different fields.
As well as public and private industry, other major employers in the Twin Cities metro area are the State of Minnesota, the cities of Minneapolis, St. Paul and other cities in the metro area, and the University of Minnesota.
How High Are Wages in Minneapolis and St. Paul?
Wages in Minneapolis/St. Paul are similar to the national average, but the cost of living here is relatively reasonable, so your dollar will go further here.
What is Commuting Like in Minneapolis and St. Paul?
The distribution of businesses in the metro area spreads out traffic congestion some, and gives commuters more options for their suburb of choice, but but the traffic can still be nasty, especially if attempting to drive through the center of the cities in rush hour.