Maplewood, Minnesota, offers a unique economic environment where global corporations and local businesses coexist, contributing to the city’s vibrant economy.
Corporate Presence
At the forefront is 3M, a multinational conglomerate headquartered in Maplewood. This global leader in technology and manufacturing provides thousands of high-tech and corporate jobs, solidifying the city’s status as a major employment hub in the East Metro area.
Local Business Ecosystem
Beyond 3M, Maplewood is home to over 1,300 businesses, including a diverse array of locally owned enterprises. The Maplewood Mall, featuring approximately 170 stores, serves as an incubator for rising entrepreneurs, offering a platform for local startups to flourish. Additionally, the city’s commercial corridors along Highway 61 and I-694 host a variety of retail, dining, and service businesses, making Maplewood a primary shopping destination for surrounding communities.
Economic Development Initiatives
The city’s Economic Development Authority (EDA) actively promotes and facilitates economic growth. Services include administering financial incentives to encourage business development, promoting balanced development and job creation, and advocating for businesses within the boundaries of City Council policy. Programs like Tax Increment Financing (TIF) are utilized to support local development efforts.
Workforce and Employment
Maplewood boasts a highly educated workforce, with over 35% of the population holding a bachelor’s degree or higher. The city’s top industries include education, health care, manufacturing, retail, and social services. The Metropolitan Council estimates that there are 36,600 jobs in Maplewood, with projections indicating a 22% increase by 2030.
Quality of Life
Residents enjoy a high quality of life, with numerous parks, trails, and recreational facilities. The city’s strategic location, just minutes from downtown Saint Paul and Minneapolis, along with its robust economy and community amenities, makes Maplewood an attractive place to live and work.
In summary, Maplewood’s economic landscape is characterized by a harmonious blend of major corporate entities and thriving local businesses, supported by proactive economic development initiatives and a skilled workforce, all contributing to the city’s ongoing growth and prosperity.