CNBC study ranks Minnesota sixth in the nation based on 128 indicators

ST. PAUL, MN - Governor Tim Walz today announced that Minnesota is ranked sixth in the nation for business, according to a recent CNBC study . Minnesota’s ranking is based on 128 key indicators in 10 categories of competitiveness, including workforce, infrastructure, economy, quality of life, and business friendliness. Minnesota was also recently ranked the best state for independent retailers, according to a B2B Reviews study, and earlier this week, the Minneapolis-St. Paul International Airport was named the best U.S. airport in 2024 by Travel + Leisure.

“These rankings are a testament to our focus on investing in key areas that make our businesses and economy strong: job training, workforce development, child care, and broadband access,” said Governor Walz. “Businesses in top industries, from health care to renewable energy and manufacturing, understand the benefits of investing and growing in Minnesota.”

This ranking comes as the Governor recently celebrated a $24 million investment in job training and economic development programs. Governor Walz also recently announced an over $12 million investment to train workers for high-demand employment.

Businesses in high-growth industries choose to invest in Minnesota. In June, Minnesota secured $213 million to finance Bioforge Marshall LLC, a 500,000-square-foot sustainable biomanufacturing facility in Marshall, Minnesota. In May, Governor Walz celebrated Polar Semiconductor’s historic $525 million investment to expand their Bloomington facility. Last winter, the Governor celebrated Mayo Clinic’s $5 billion expansion in downtown Rochester.