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On October 25, 2019, the Minneapolis City Council adopted a resolution to approve Minneapolis 2040. The policies in Minneapolis 2040 have an effective date of January 1, 2020.

POLICY 90

Technology in the Economy: Foster a growing technology sector with a vibrant ecosystem of companies, entrepreneurs, funders, mentors, and support organizations.

Forbes magazine has called Minnesota the fastest-growing state for technology sector jobs. The Minnesota Department of Employment and Economic Development (MN DEED) has projected 16,000 technology sector jobs by 2022 in the state, a 15 percent increase from 2017 levels. Minneapolis, specifically Downtown, is experiencing high demand for office space for technology companies and is home to a growing number of established and new technology companies. This presents a strength to build on, and an opportunity to grow employment in a high-demand sector.

ACTION STEPS

The City will seek to accomplish the following action steps to foster a growing technology sector with a vibrant ecosystem of companies, entrepreneurs, funders, mentors, and support organizations.

  1. Engage with and connect technology businesses to resources and information.
  2. Promote and support the amenities of the region to recruit and retain top technology talent.
  3. Invest in education and training to develop a homegrown, diverse tech-based workforce, with a focus on Minneapolis residents.
  4. Expand technology education and training for targeted communities based on a criteria of need.
  5. Draw more investment capital into the Minneapolis technology sector.
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