Health & Life Sciences
A hearty and healthy bio-business community.
With over 750 health & life science companies, the highest concentration of medical device jobs in the nation, and the fifth lowest operating cost among life science clusters in the nation, the Greater MSP region is the global epicenter of life science innovation and commercialization.
To learn more about how we outpace the nation in bio-business growth and retain more brainpower than any other metro area, download our Health + Life Sciences brochure — or contact us for help with specific research, free of charge.
Investing in Manufacturing Communities Partnership (IMCP Designation)
Greater MSP and the region’s medical device industry were recognized by the federal government as a best-practice example of how communities can leverage sector strengths for the purposes of attracting manufacturing and supply chain investments on a global scale.
Meet the Major Players: Top Medical Companies + Organizations
Over 41,000 people are employed in the Greater MSP region health & life science sector, and the sector has grown by 4% since 2011. As a whole, the region’s health & life science sector is 84% more concentrated than the national average, and occupations that the sector relies on most for employment have grown by nearly 7% since 2011.
A Competitive Cost of Doing Business
In addition to an abundant workforce and dynamic life science ecosystem, Greater MSP health & life science companies enjoy a lower cost of doing business than most of our peer regions. Our tax laws are also beneficial: mature capital-intensive manufacturers enjoy the second-lowest effective tax rate in the nation, according to KPMG and the Tax Foundation.
Our region’s experienced workforce and network of major research institutions, established companies, and burgeoning health & life science start-ups means our innovators know how to get products from the lab bench to market. Minnesota companies average FDA Pre-Market Approvals (PMA) of over six months faster than the rest of the nation.
For more info on clearance times, please contact Medical Alley Association or view this page: https://www.medicalalley.org/industry-intelligence/special-reports/