Innovation Destination. Thriving in the North. Business Development Guide. minnesota is the PRime location FoR breakthrough companies

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1 MINNESOTA 2018 in Business Development Guide t Guide EDITION livability.com/mn Thriving in the North Innovation Destination minnesota is the PRime location FoR breakthrough companies SPONSORED BY THE MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT

2 ADVANCED MANUFACTURING PRECISION INDUSTRY SKILLED TALENT POOL PROPELS ADVANCED MANUFACTURING IN MINNESOTA Story by Bill Lewis Take a flight in a modern light aircraft, pilot a drone for business or pleasure, enjoy a meal or open a door or window in your home and you may be using or eating a product made in Minnesota. Need to adjust your thermostat? If it had a label it might say made by Honeywell in Minnesota. The same goes for light aircraft made by Cirrus, cereal products made by General Mills, drones developed by Sensurion Aerospace and doors $48B Manufacturing is 16 percent of the total GDP and windows made by Andersen and Marvin. Other well-known companies with a Minnesota address include Polaris a manufacturer of popular off-road vehicles; 3M, whose products are found in homes and businesses worldwide; and Emerson, a provider of automation services and products for businesses and households. They are among the more than 8,200 manufacturing establishments in Minnesota working across a broad 318K 1.02M Manufacturing jobs Direct and indirect jobs supported by manufacturing range of industries, including aerospace, agriculture and farm equipment, sensors and robotics, construction components, HVAC technology and medical devices. MAJOR EMPLOYER Manufacturing employs more than 318,000 workers and contributes more than $48 billion to Minnesota s GDP. Advanced manufacturers like Preceptis Medical in Plymouth are making $20.3B Total payroll in manufacturing SENSURION: STEVE WOIT, WELDER: CORY AND TAMRAH RYAN; SMITHS MEDICAL: STEVE WOIT 44 minnesota

3 HIGH FLIERS Minnesota s technologydriven advanced manufacturing sector includes companies such as Bloomington-based Sensurion Aerospace, top, which designs, manufactures and sells FAA-certified small unmanned aircraft systems.

4 Top Minnesota Export Categories (2016) optical and medical products $3.5B machinery, except electrical $3.1B electrical machinery $2.5B vehicles $1.5B Plastic products $1.1B source: U.s. Department of commerce the sector increasingly technology driven. Preceptis manufactures pediatric surgical technologies designed for the unique needs of children and their caregivers. Its Hummingbird TTS is designed to minimize pain during routine ear tube placement so physicians can use moderate sedation instead of general anesthesia. The result is the potential for less cost and less risk. The FDA warns that repeated anesthesia may affect the development of children s brains. The company says there are more than 1.2 million ear-tube procedures in the United States each year. There are benefits to reduced anesthesia whenever possible. 8,200 Manufacturing establishments Preceptis was founded to bring these benefits to pediatric ear tube surgery by providing surgeons with new tools that enable it to be performed safely and effectively with less anesthesia, says Dr. Mike Loushin, a pediatric anesthesiologist and founder of Preceptis Medical. Routine ear tube placement is a minor procedure that should not require general anesthesia, says Steve Anderson, CEO of Preceptis. The FDA warning highlights the need for alternatives to general anesthesia for young children, he says. CRITICAL MASS OF MANUFACTURERS Minnesota is one of the world s leading hubs for development of medical devices. An outstanding infrastructure exists to support product development, care of patients and even the payment for that care, says Doug Killion, president and CEO of Pursuit Vascular. The Maple Grove-based company has a family of singleuse products designed to protect patients from dangerous infections associated with longterm catheter and port use. Minnesota has a long history of success in med-tech, with hundreds of companies including Medtronic, Boston Scientific, and St. Jude Medical operating in the state. For a company like Pursuit Vascular, this ecosystem provides access to employees and consultants with critical expertise in manufacturing, research and development, clinical studies, regulatory affairs, quality, and sales and marketing, Killion says. Pursuit Vascular s first product, the ClearGuard HD Antimicrobial Barrier Cap, is designed to prevent costly and deadly bloodstream infections in hemodialysis patients with catheters. The device has been cleared for sale by the FDA and recently completed two largescale randomized clinical studies in the United States. Both studies demonstrated a 60 to 70 percent reduction in bloodstream infections when ClearGuard HD caps are used, the company says. $63,794 Average MN annual manufacturing wage Now the company is planning to introduce a portfolio of innovative single-use products. Worldwide expansion of ClearGuard HD along with the introduction of new products for other clinical indications will require expansion into a new facility, says Killion. Minnesota s critical mass of advanced manufacturers is a great benefit when it comes to hiring as well as working with suppliers, he says. The critical mass of advanced manufacturers is also very convenient when it comes time to sourcing key components and advanced manufacturing equipment, Killion says. Many of the components, production equipment and even the cleanroom that we build our product in are supplied by other Minnesota-based companies. 46 minnesota

5 MINNeSOTA Read the full magazine publication _1,...P..,_.;_-,._.. 1 It's not Minnesotan to brag, but with 30+ national Top 10 rankings, wouldn't you? Here are just a few: 3rd in America's Top States for Business (Among Top 5 States, ) 3rd Best State Overall 3rd in Fortune 500 Companies Per Capita 5th in Economic Climate 2nd in Education 3rd in Educational Attainment 4th in Technology and Science Workforce 5th in Labor Force Participation Top Airport in North America 5th in Infrastructure 1st in Medical Device and Food Patents Per Capita 7th in Technology and Science Business Strength 2nd in Quality of Life For ranking details - and more - go to CompareMN.com mil EMPLOYMENT AND ECONOMIC DEVELOPMENT JOIN US! Phone: [ Economic.Development(@state.mn.us