Minnetonka is home to thriving mix of global, big and small business.
Minnetonka business owners - please complete this information form to ensure our records are up to date.
Learn more about Minnetonka’s demographics, economy, socio-economics, housing, transportation, land use and development.
Minnetonka is conveniently located eight miles west of downtown Minneapolis. Because many of Minnesota’s major highways converge in Minnetonka, access to the city is convenient from every direction, which is ideal for commuting employees. Minneapolis-Saint Paul International Airport is only 15 minutes away.
Metro Transit serves the area with multiple bus routes, and the Southwest Light Rail Transit system – which will connect the southwestern suburbs with Minneapolis and St. Paul – is expected to open in 2023.
- UnitedHealth Group – Largest health care company in the world
- Cargill – Largest privately-held company in the U.S.
- Carlson Companies
- Boston Scientific
- Medica Health Plans
- Ridgedale Center
Where do Minnetonka’s workers come from?
Minnetonka’s convenient location in the Minneapolis-St. Paul metro area offers tremendous opportunity for businesses to attract workers. Minnetonka’s diverse workforce includes large numbers of employees from:
- Minneapolis – 4,286 workers
- Minnetonka – 3,167 workers
- Plymouth – 2,189 workers
- Eden Prairie – 2,051 workers
- St. Louis Park – 1,449 workers
- St. Paul – 1,404 workers
Open To Business program
- The City of Minnetonka participates in the Open to Business program, which provides small businesses with services to help them succeed. Learn more at the Open to Business Program page.
Guide to starting a business
- The Minnesota Department of Employment and Economic Development (MN DEED) features an online step-by-step guide to starting and operating a business in Minnesota. From the inception of the business idea to the management of the facility, this guide serves as a handy tool to make business dreams a reality.
Hennepin County CEO Next Business Institute
- This program assists with growth of second-stage companies through scholarships for owners for business research combined with peer learning and business forums. Learn more on Hennepin County’s economic development website.
Small Business Administration Emerging Leaders Initiative
- This intensive, executive-level mentorship program provides curriculum and tools to help manage growth and success. Learn more on the Small Business Administration’s website.
Metropolitan Consortium of Community Developers (MCCD)
- An association of nonprofit community development organizations and Open to Business program partner. MCCD offers free consultation with a business advisor for one-on-one advising. For more information, contact Rob Smolund at 612-789-7337.
Minnesota Department of Employment and Economic Development (MN DEED)
- MN DEED Workforce Centers: DEED Workforce centers help job seekers find employment and explore and plan careers. They also help businesses find workers.
- DEED Workforce Portal
- GreaterMSP coordinates the regional effort to grow the economy of the 16-county Minneapolis-Saint Paul region. The organization specializes in regional business retention and expansion efforts, business recruitment, and talent attraction.
Minnesota Chamber of Commerce
- The Minnesota Chamber of Commerce’s Grow Minnesota program strives to direct resources to businesses so they can invest, prosper and grow in Minnesota. Available resources include: Business Financing, Workforce Development, Research and Data and more.
TwinWest Chamber of Commerce
- Minnetonka is represented locally by the TwinWest Chamber of Commerce.
Minnetonka SAC and REC Deferral Program
- Minnetonka’s Sewer Availability Charge (SAC) and Residential Equivalency Charge (REC) Deferral program, allows eligible businesses and property owners the ability to defer of up to 80 percent of SAC and REC charges. Businesses are eligible to participate if they’re determined to have 25 or fewer SAC/REC units. For more information, please contact Rob Hanson at 952-939-8234.
Minnetonka Fire Sprinkler Assistance
- The City of Minnetonka Fire Sprinkler Retrofit Program allows businesses to spread the cost of fire sprinkler installation over a 10-year period, rather than pay the entire cost up-front.
- Additionally, 2018 federal tax reform legislation includes incentives that make it more affordable for small business owners to install fire sprinklers. Small businesses can deduct the expense of installing a fire sprinkler system – up to $1 million for each year of expense – on their federal taxes, and can also deduct interest received from any loan for this type of renovation.
- For more information on either program, contact Rob Hanson at 952-939-8234.
- Minnesota’s Angel Loan Fund Program (ALF) provides a direct loan for 10 percent of the total amount of equity investment received in the business’ approved funding round. Businesses must be certified to participate in Minnesota’s Angel Tax Credit Program.
- The Minnesota Emerging Entrepreneur Loan Program (ELP) supports the growth of businesses owned and operated by minorities, low-income individuals, women, veterans or persons with disabilities. These funds can be used for business start-up or expansion.
- MNCAR offers a free commercial real estate listing map. The map features lease rates, broker contact information, property square footage and property brochures.
- This fund provides financing to help add new workers and retain high-quality jobs on a statewide basis. The focus is on industrial, manufacturing and technology-related industries.
- The Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets.
- Open to Business advisors can assist potential borrowers with the preparation of business plans, cash flow and other financial projections and loan application materials. For more information, contact Rob Smolund at 612-789-7337. Open to Business provides the following loan products:
- Loans for New and Emerging Businesses
- Loans for Second Stage and Growing Businesses
- Gap Financing for Real Estate
- Acquisition Financing for Real Estate
- Transactional Financing
- Hennepin County has up to $1 million in grant funds available to support business recruitment and expansion. The grant is intended to support targeted investments in infrastructure upgrades and extraordinary costs associated with starting or expanding a business. Contact Patricia Fitzgerald at 612-543-0864 or Simran Aryal at 612-348-4926.
- This program provides interest-free loans to early-stage businesses developing or producing high-tech products or services in Minnesota. Loans range from $20,000 to $50,000, require a 1:1 match and have a four-year term with no repayments in the first year.
- An online searchable database of Minnesota suppliers to make it easy for buyers to find products. MN Supplier Match highlights Minnesota’s supply chain and increases business-to-business activity.
Minnesota Foreign Trade Zone
- Foreign Trade Zones can help U.S. companies compete globally to reduce, defer or eliminate duty payments and to make distribution easier and more profitable. Visit mn.gov/deed/ftz or contact John Shoffner at 651-259-7445 for more information.
- The MJSP Program provides training grants of up to $400,000 to educational institutions that partner with businesses to develop new-job training, or retraining for existing employees. Funds may be used for training-related costs such as curriculum development, instruction, training materials and supplies, training equipment and instructor travel. A cash or in-kind contribution from the contributing business must match program funds on at least a one-to-one basis.
- Workforce training and continuing education providers are available to Minnetonka residents and businesses. CareerForce assists businesses with finding workers, publicizes jobs and provides access to workforce data.
- Job-to-candidate matching platform which connects employers with job-seekers based on skills, interests and job requirements.
- Works with businesses to customize curriculum based on the organization’s needs and employees’ requirements.
- Connects college students in science, technology, engineering and math disciplines with paid internships that provide hands-on experience. Assists companies with finding qualified candidates and a 1:1 matching stipend to cover 50 percent of the interns’ wages.
Center for Energy and Environment programs
The Center for Energy and Environment is a city partner that helps businesses improve their energy efficiency.
- One-Stop Efficiency Shop: A full-service rebate program for small businesses looking to address lighting and HVAC efficiency
- Energy Savings Fund for Nonprofits: Funds to help finance energy-efficient projects by nonprofits
- Commercial Energy Efficiency Loan Program: Provides financing to businesses making cost-effective energy efficiency improvements
- Engineering for Energy Efficiency: Engineers help building owners and managers better understand and optimize energy use
- Rental Energy Loan Program: Low-interest loans for rental property owners to make energy improvements
- Commercial Refrigeration Program – Free, on-site refrigeration assessments to identify improvements to save energy and money; also offers rebates for energy-efficient upgrades
Xcel Energy programs
Xcel Energy provides a wide variety of energy efficiency, expertise and rebate programs to help businesses manage and control energy usage.
- LED rebates: Rebates for customers who switch to LED lighting.
- Energy Efficient Buildings program: Free consultation program to incorporate energy efficient strategies into new construction, expansion, renovation or equipment projects
- Energy Design Assistance: Free comprehensive services to identify energy and cost-savings strategies for new construction or major renovations
Other energy efficiency and financing programs
- CenterPoint Energy’s natural gas equipment programs can lower energy use and help save money. Residential and small business customers can receive rebates for choosing high-efficiency natural gas equipment.
- The Hennepin County Business Recycling Program offers grants, signage, technical assistance and research assistance to help start or improve recycling programs, reduce waste and donate usable goods. Download this flyer to learn more.
- Property-Assessed Clean Energy (PACE) is a program that allows local governments to fund the up-front cost of energy improvements on commercial and residential properties. Property owners pay this funding back over time, which provides an incentive to invest in energy improvements that might otherwise be cost prohibitive.
- Minnesota Waste Wise delivers strategic environmental consulting that helps businesses save money through waste reduction, resource conservation and energy efficiency. Becoming a member of Minnesota Waste Wise can help save money while protecting the environment.
- Minnesota Technical Assistance Program (MnTap) helps businesses implement industry-tailored solutions that prevent pollution at the source, maximize efficient use of resources and reduce energy use and costs to improve public health and the environment. MnTap provides focused assistance for air, energy, waste and water.
- Minnesota Retiree Environmental Technical Assistance Program RETAP has no-cost, non-regulatory energy efficiency and waste reduction assessments available to Minnesota's small businesses and public and private institutions. Assessments include an on-site visit with emphasis on finding opportunities to increase energy efficiency and water conservation, reduce waste and reduce operating costs.
- Clean Energy Resource Teams (CERTs) is a great general resource for grants and other assistance as opportunities arise. They help with energy efficiency, renewables and other resource reduction programs.
- Guaranteed Energy Savings Program (GESP) is available to public agencies only (not business or private sector). It promotes awareness and implementation of energy efficient and renewable energy measures in public facilities to provide millions of dollars in annual energy savings in Minnesota. GESP can help:
- Solicit and award site-specific requests for proposals from pre-qualified Energy Service Companies (ESCOs) to perform Energy Savings Performance Contracting (ESPC) services
- Evaluate the technical and financial feasibility of ESCO proposals
- Negotiate and award work order contracts to pre-qualified ESCOs under the GESP Master Contract to implement energy conservation measures
- Offer project management oversight of ESPC projects
- Provide technical assistance to ensure the ESPC Measurement and Verification Plan is properly performed throughout the performance period of the contract
Thrive Minnetonka is a bi-annual business publication from the City of Minnetonka to help businesses start, grow and thrive.
To learn more, view archived issues and sign up for email or text delivery, visit Thrive Minnetonka.