Business Facilities - September 2008 - (Page 18)

COVER STORY Editors’ Location Picks 2008 targeting some high-growth sectors such as bioscience, information technology, and aviation/aerospace. “Our biggest strength is our workforce. We have 17 universities in the metropolitan area. That’s an average of 120,000 college students and 20,000 college graduates every year, holding degrees in every field from energy to IT to the arts,” says Williams. “We also have Tinker Air Force Base, which has 26,000 military personnel. Many of them retire in their 30s and 40s with 20 years of technology experience under their belt. So that’s a huge talent pool ready to be tapped right here. In fact, Dell looked at 126 cities and they’ll tell you that they picked us because of our talented, concentrated labor pool.” MINNEAPOLIS/SAINT PAUL, MN If you wanted proof that an MSA has a business-friendly environment that ensures success for the businesses that are located there, what criteria would you consider? We think a great way to figure that out is to focus on the businesses that are located there and how successful they are—this is what drew our attention to the Minneapolis/Saint Paul, MN MSA. Minnesota is home to 19 Fortune 500 companies, giving it the highest per capita total among the states, and 18 of those 19 are based in Minneapolis/Saint Paul. Not only that, these companies represent industries running the gamut from food products to insurance, logistics to chemical manufacturing, and medical devices to financial services; so there’s plenty of stability. In 2006, Minneapolis/Saint Paul ranked first among U.S. metropolitan areas in employment in the med18 SEPTEMBER 2008 ical device industry (more than 26,000 workers), surpassing other top areas such as Los Angeles (25,715), Miami (8,674) and Boston (8,075). Minnesota has nearly 600 FDA-approved medical device manufacturers. Between 2003 and 2007, Minnesota had 2,337 patents in medical devices, ranking second among all states. The medical device stronghold in Minnesota began in 1957 when Earl Bakken invented the world’s first wearable pacemaker in his Minneapolis garage. That invention gave rise to industry-leader Medtronic, and other small and large medical device companies. The medical products field continues to grow in this region. Switzerland-based Nestle Corporation recently purchased Minneapolis/Saint Paul-based Novartis Medical Nutrition. The company designated Minneapolis/Saint Paul as the U.S. headquarters for its new business unit, named Nestle Health Care. Nestle merged part of its operations in Glendale, CA into the new company, bringing job growth and Minneapolis/Saint Paul, MN new investment to Minnesota. Nestle also considered California, Wisconsin and New Jersey as potential locations. “Nestle conducted a national search for this expansion,” notes Kevin McKinnon, director of business development at the Minnesota Department of Employment and Economic Development. “The company chose to locate in Minneapolis because of the highly skilled and educated labor force, and because of the strong infrastructure available to support biosciencerelated companies. In addition, the health and wellness lifestyle in Minnesota fits well with Nestle Health Care’s core mission,” McKinnon says. The company will retain 500 employees and add a significant number of jobs. Nestle is investing in a manufacturing facility in Minneapolis (St. Louis Park) and a 60,000-square-foot headquarters. WICHITA, KS The possibility for economic growth is often tied to which industries are located in an MSA and PHOTO CREDIT: EXPLORE MINNESOTA TOURISM

Table of Contents Feed for the Digital Edition of Business Facilities - September 2008

Business Facilities- September 2008 Contents First Word Snapshots Corporate Moves:�Mississippi Editor's Location Picks 2008 The Palmetto State Reaches Across the Sea Corporate Moves:�Tennessee Metro Spotlight:�Spokane, WA Biotech: Building Block for Development Wind Power Lifts Iowa Germany:�Europe's Economic Juggernaut California Here We Come Up, Up and Away in North Carolina Corporate Moves:�West Virginia Metro Spotlight:�Decatur/Greensburg, IN Advertiser Index Ask the Expert

Business Facilities - September 2008

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