The largest companies in Minneapolis-St. Paul: the top 30 metro headquarters by revenue

This ranking is for readers who want the Twin Cities' corporate headquarters in order: job seekers, suppliers and agencies chasing corporate buyers, investors and sellers planning enterprise accounts. It covers the 15-county Minneapolis-St. Paul-Bloomington, MN-WI metro area, not the whole state; for the statewide ranking, which adds Hormel in Austin and Fastenal in Winona, see the biggest companies in Minnesota. For who employs the most people locally, see the largest employers in Minneapolis.

The 30 largest companies headquartered in the Twin Cities

Each row comes from the company's latest annual report on Form 10-K: the city on its cover page, revenue as reported and the company-wide headcount from its human capital section. The county is where that city is.

How to read the figures. U.S. Bancorp's revenue is total net revenue, after interest expense. Target's count includes part-time and seasonal team members, and Life Time's includes over 33,000 part-time employees. Toro's 9,227 is its headcount on 31 October 2025 (it averaged 9,791 over the year). Donaldson, Winnebago and Bio-Techne have already filed 2026 annual reports, so their rows are for fiscal 2026. Sleep Number's fiscal year ended on 3 January 2026.

Where the revenue sits

Hennepin's share is so high partly because UnitedHealth Group and Target are both there, but even without them it has 20 of the 30. Ramsey County's six are a manufacturing and chemicals group: 3M, Ecolab, Solventum (spun off from 3M), APi Group, H.B. Fuller and Hawkins. None of the 30 is in the metro's two Wisconsin counties, Pierce and St. Croix. The Census Bureau counts 868 establishments in the metro classified as management of companies, the corporate and regional offices that make purchasing decisions for other sites, employing 133,393 people in 2023.

Twin Cities companies headquartered elsewhere on paper

Several companies that most people would call Twin Cities companies don't qualify, because their filings name a principal executive office somewhere else:

If you rank by where the work happens, Travelers would be third, behind Target, and Medtronic fifth, ahead of CHS. Large private companies, such as Cargill, are also absent, because they don't file annual reports.

Fortune 500 companies in Minneapolis

Greater MSP, the region's economic development partnership, lists 17 companies under "Fortune 500 Companies in Greater MSP" on its major employers page, labeled a 2024 ranking. Its list goes beyond this one in two ways. It includes three companies that don't file with the SEC (Land O'Lakes, Thrivent Financial and Securian Financial Group), and it includes Hormel Foods and Fastenal, which are based outside the metro in Austin and Winona. Fortune applies its own revenue definitions, so use its site for ranks and this table for figures traced to a filing.

Selling to the Twin Cities' biggest companies

These companies buy through central procurement teams, usually with a supplier registration portal, security and privacy reviews, and payment terms set by the buyer. Two local patterns help. First, many sit within a short drive of each other along the I-494 and I-394 corridors and downtown, so in-person meetings are practical. Second, the region's financial and health companies are heavily regulated, so vendors that touch data face long security questionnaires before a pilot.

Illustrative example. The seller and its figures are fictional; the company figures are from the table.

Nicollet Tabletop (nicollettabletop.example) runs cyber incident simulations for executive teams and wants the downtown Minneapolis financial companies in the top 30.

• From the table it picks four: U.S. Bancorp, Ameriprise Financial, Piper Sandler and Deluxe, all with downtown Minneapolis addresses on their 10-K covers.
• Their combined headcount is 88,549, and all four handle customers' financial data.
• At $45,000 per business-unit exercise and an assumed three exercises a year across the four, the opportunity is about $135,000 a year.
• It starts with each company's chief information security officer, then the business continuity lead, and times outreach for the fourth quarter, before each company's fiscal year starts in January and next year's testing calendar is set.

Bebop can find the security and business continuity leaders at each of the four and draft outreach that refers to the risks each company describes in its 10-K.

Subject: Next year's incident exercise at [Company]

Hi [first name],

Your 10-K lists cyber incidents among [Company]'s principal risks. Most security teams we talk to run one executive exercise a year and want a harder scenario next time.

We design and run incident simulations for financial firms, built around your own systems and regulators, and we're ten minutes from your office. Could I send the outline of a two-hour scenario we ran for a similar firm?

[Your name], Nicollet Tabletop

Next step: prepare for accounts like these with enterprise account research.