Companies in Minneapolis: Fortune-size headquarters on top of 99,443 businesses

Thirty public companies with $750 million or more in revenue are headquartered in the Twin Cities, and that shapes the whole market: suppliers, agencies and service firms cluster around the buyers. But most Twin Cities businesses are still small, and the right list depends on what you need.

Market report6 min readPublished

The top companies headquartered in the Minneapolis-St. Paul metro, by revenue in their latest 10-K filings, are UnitedHealth Group ($447.6 billion), Target ($104.8 billion), Best Buy ($41.7 billion), CHS ($35.5 billion) and U.S. Bancorp ($28.7 billion). The City of Minneapolis's largest employers are the University of Minnesota, Allina Health and Hennepin Healthcare. The Census Bureau counted 99,443 business establishments with 1,885,126 employees in the metro in 2023, 40,486 of them in Hennepin County.

  • The metro's 99,443 establishments employ an average of 19.0 people, against 14.9 in San Diego and 15.2 in Portland.
  • Hennepin County has 40.7% of the metro's establishments and 49.8% of the employees they report.
  • 13 of the metro's 30 largest public companies give a Minneapolis address on their 10-K cover.
  • Finance and insurance plus corporate head offices pay 23.1% of the metro's private payroll.
  • The University of Minnesota is the city's largest employer, with 25,235 people on the city's 2025 list.
On this page

This page is for anyone working out which companies matter in Minneapolis and the wider Twin Cities: people looking for an employer, buyers vetting a local vendor, analysts and B2B sellers building a territory. It starts with the headquarters, then who employs the most people in the city, then the full business count from federal data, and ends with how to check a company and how to approach the market.

Top companies headquartered in Minneapolis-St. Paul

These are the ten largest SEC-registered public companies whose latest annual report names a principal executive office in the 15-county Minneapolis-St. Paul-Bloomington metro area, ranked by the revenue in that filing.

RankCompanyCityRevenueFiscal year endedWhat it does
1UnitedHealth GroupEden Prairie$447.57 billionDec 2025Health insurance (UnitedHealthcare) and health services (Optum)
2TargetMinneapolis$104.78 billionJan 2026General merchandise stores and online retail
3Best BuyRichfield$41.69 billionJan 2026Consumer electronics retail
4CHS IncInver Grove Heights$35.46 billionAug 2025Farmer-owned cooperative in grain, agronomy and energy
5U.S. BancorpMinneapolis$28.66 billionDec 2025Bank holding company
63MSt. Paul$24.95 billionDec 2025Industrial, safety and consumer products
7Ameriprise FinancialMinneapolis$18.91 billionDec 2025Wealth management and asset management
8General MillsMinneapolis$18.42 billionMay 2026Packaged foods
9C.H. RobinsonEden Prairie$16.23 billionDec 2025Freight brokerage and logistics
10EcolabSt. Paul$16.08 billionDec 2025Water, hygiene and infection prevention

The full top 30, with headcounts and counties, is on our largest companies in Minneapolis page. Of those 30, 13 give a Minneapolis address on their 10-K cover and three give St. Paul; the rest are in suburbs from Medina to Inver Grove Heights. Medtronic, Travelers and Pentair, which run large Twin Cities operations, name principal executive offices in Ireland, New York and London, so they aren't counted. Sun Country Airlines stopped filing after Allegiant Travel Company acquired it on 13 May 2026.

The biggest employers in Minneapolis

The City of Minneapolis publishes its principal employers in its Annual Comprehensive Financial Report. The 2025 report's top five:

RankEmployerApproximate employees
1University of Minnesota25,235
2Allina Health9,663
3Hennepin Healthcare7,555
4Target5,800
5Wells Fargo Bank5,492

The counts aren't measured the same way: the university's is Twin Cities-wide, Allina's is Minneapolis-wide, and most of the rest are downtown Minneapolis counts from the Minneapolis Downtown Council. The full city list, the Downtown Council's top 15 and how to read both are on our largest employers in Minneapolis page.

Across the metro, the Bureau of Labor Statistics counted 1,944,335 jobs covered by unemployment insurance in 2025, 1,700,278 of them (87.4%) in the private sector. Local government had 158,974, state government 61,845 and the federal government 20,268; Pierce County, Wisconsin's state and local government figures aren't disclosed.

How many businesses are in Minneapolis

The Census Bureau's County Business Patterns (CBP) counts business locations with paid employees. For the Minneapolis-St. Paul-Bloomington, MN-WI Metro Area (CBSA 33460) in 2023:

MeasureTwin Cities metro, 2023
Establishments99,443
Employees1,885,126
Annual payroll$137,382,906,000
Average employees per establishment19.0
Average annual pay$72,877
Share of US establishments1.19% (of 8,361,342)
Employees at the establishmentEstablishments
1 to 454,160
5 to 916,039
10 to 1912,668
20 to 499,974
50 to 993,584
100 to 2492,103
250 to 499592
500 to 999181
1,000 or more142

That's 82,867 establishments with 1 to 19 employees, 13,558 with 20 to 99 and 3,018 with 100 or more.

CountyEstablishmentsEmployees
Hennepin County, Minnesota40,486939,201
Ramsey County, Minnesota13,677294,664
Dakota County, Minnesota10,964185,426
Anoka County, Minnesota8,438123,486
Washington County, Minnesota6,54295,631
Wright County, Minnesota3,68042,944
Scott County, Minnesota3,65560,419
Carver County, Minnesota2,71439,280

These are the eight largest of the metro's 15 counties. CBP counts locations, not companies, so a chain with 50 stores counts 50 times; it leaves out self-employed owners and businesses with no payroll, and it counts employment in the pay period including March 12.

What kinds of companies the Twin Cities have

Sector (NAICS)EstablishmentsEmployeesAverage pay
Health care and social assistance (62)13,207312,551$60,953
Professional, scientific and technical services (54)12,899129,004$100,735
Construction (23)10,456100,656$94,574
Retail trade (44 to 45)9,998195,652$36,058
Finance and insurance (52)6,186123,390$128,872
Manufacturing (31 to 33)4,201201,259$79,574
Wholesale trade (42)4,75992,071$100,327
Information (51)1,69549,927$118,094
Management of companies (55)868133,393$118,566

Average pay is our calculation: annual payroll divided by employees. Two sectors explain the headquarters effect. Finance and insurance, and management of companies (corporate, subsidiary and regional head offices), together employ 256,783 people and pay 23.1% of the metro's private payroll. Manufacturing establishments average 48 employees each, so plants are fewer but bigger than the rest of the market. For two of the largest clusters, see medical device companies in Minneapolis and construction companies in Minneapolis.

Checking a Minneapolis company

SourceUse it to check
Minnesota Secretary of State business searchThat the entity is registered and active, and its registered office
Minnesota DLI license lookupContractor and trade licenses issued by the Department of Labor and Industry
City of Minneapolis business licensesWhich activities need a city license: food, alcohol, contractors, lodging, vehicles and more
Minneapolis Regional ChamberMember businesses, events and business advocacy
Minneapolis Downtown CouncilThe annual State of Downtown report, including the top downtown employers
Greater MSPRegional economic development data and industry profiles

Before signing with a supplier, confirm the legal name on the Secretary of State's site matches the contract, check any trade license with DLI, and ask whether a city license applies to the work.

Prospecting Twin Cities companies

Size sets the buying process. At the 82,867 establishments under 20 employees, the owner decides, often in a single conversation. From 20 to 99, an operations or office manager runs most purchases. At the 3,018 sites with 100 or more, and especially at the 868 head offices, decisions are made centrally and often for sites in other states, so the person you need may sit in Eden Prairie even when the plant is in Iowa.

Illustrative example. The company, rates and results are fictional, to show the method.

Rum River Air (rumriverair.example), a compressed-air and HVAC maintenance firm in Blaine, wants manufacturing plants north and east of Minneapolis.

  • CBP counts 154 manufacturing establishments with 20 to 249 employees in Anoka County and 165 in Ramsey County: 319 plants.
  • It assumes 40% already have a maintenance contract they won't break this year, leaving about 190 prospects.
  • At 30 site visits a month and one contract per 12 visits, it adds two or three plants a month at about $18,000 a year each.

The slow part is learning which of the 319 run compressed air and who the plant or maintenance manager is. Bebop can search for "manufacturers in Anoka and Ramsey counties with 20 to 249 employees hiring maintenance technicians" and explain why each one fits.

Email to a plant manager north of Minneapolis
Subject: Compressed air at [Company]'s [city] plant

Hi [first name],

Compressed-air leaks rarely get noticed until a compressor fails in the middle of January.

We maintain compressors and HVAC for 40 plants in Anoka and Ramsey counties, with a technician within 30 minutes of your door. Could we run a free leak survey on one shift and send you the numbers?

[Your name], Rum River Air

Next step: turn these counts into a working list with how to build a prospect list.

Sources

Written by the Bebop team at Blackpearl Group. Published .

Questions people ask

What are the top companies in Minneapolis?

By revenue in their latest 10-K filings, the largest public companies headquartered in the Minneapolis-St. Paul metro are UnitedHealth Group ($447.6 billion), Target ($104.8 billion), Best Buy ($41.7 billion), CHS ($35.5 billion) and U.S. Bancorp ($28.7 billion). 3M, Ameriprise Financial, General Mills, C.H. Robinson and Ecolab complete the top ten, each with more than $16 billion in revenue.

How many businesses are in Minneapolis?

The Census Bureau counted 99,443 business establishments with paid employees in the Minneapolis-St. Paul metro in 2023, employing 1,885,126 people. Hennepin County, which includes Minneapolis, had 40,486 of them with 939,201 employees. The count covers locations with payroll, so self-employed people and businesses without employees are extra.

Who is the largest employer in Minneapolis?

The University of Minnesota, with 25,235 employees on the City of Minneapolis's 2025 list of principal employers (a Twin Cities-wide count). Allina Health (9,663) and Hennepin Healthcare (7,555) are next. Target, with 5,800 downtown, is the largest company on the list, followed by Wells Fargo, U.S. Bancorp and Ameriprise.

Which Fortune 500 companies are headquartered in Minneapolis?

Greater MSP lists 17 companies under its Fortune 500 heading for the region, including UnitedHealth Group, Target, Best Buy, CHS, U.S. Bancorp, 3M and General Mills, plus Land O'Lakes, Thrivent and Securian, which don't publish 10-Ks. Its list also includes Hormel Foods and Fastenal, which are based outside the metro. Check Fortune's own list for current ranks.

How do I look up a business in Minneapolis?

Search the Minnesota Secretary of State's business filings for a company's registration status and registered office, and the Department of Labor and Industry's license lookup for contractors and trades. The City of Minneapolis licenses regulated activities such as food service, alcohol, lodging and some contractors. Public companies' annual reports are on SEC EDGAR.

Find the Twin Cities companies that fit what you sell

Describe the companies you want, from Ramsey County plants to downtown agencies. Bebop finds matching Minneapolis-St. Paul companies and the people to contact.

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