Technology in the Economy: Foster a growing technology sector with a vibrant ecosystem of companies, entrepreneurs, funders, mentors, and support organizations.
THIS POLICY SUPPORTS GOALS:
THIS POLICY RELATES TO TOPICS:
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.
- Engage with and connect technology businesses to resources and information.
- Promote and support the amenities of the region to recruit and retain top technology talent.
- Invest in education and training to develop a homegrown, diverse tech-based workforce, with a focus on Minneapolis residents.
- Expand technology education and training for targeted communities based on a criteria of need.
- Draw more investment capital into the Minneapolis technology sector.