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On December 7, 2018, the Minneapolis City Council directed staff to submit a final draft of Minneapolis 2040 to the Metropolitan Council for their review. The website now reflects all changes made by the City Council in their Fall 2018 markup sessions. It is expected that the Metropolitan Council will complete their review in the first half of 2019, with the Minneapolis City Council taking final action on the document shortly thereafter. To track the Metropolitan Council’s review of Minneapolis 2040, visit the Minneapolis Community Page on the Metropolitan Council web site.

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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