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Target Remains Top Employer in Downtown Minneapolis, While City Population Grew 6 Percent in 2017

A report from the Minneapolis Downtown Council, which analyzed 2017 figures, found increases in population and housing development in the city compared to a year ago.

Target Remains Top Employer in Downtown Minneapolis, While City Population Grew 6 Percent in 2017
Photo by MSBHC
Things are looking up for Minneapolis — particularly regarding the size of the city’s downtown population.
 
A report released Monday from the Minneapolis Downtown Council revealed a 6.3 percent population increase from 2016 to 2017, bringing the city’s total population to 43,456. With the latest jump in residents, Minneapolis has experienced a 36.2 percent growth in population since 2006.  
 
The boost in downtown residents is marked by a simultaneous increase in housing projects. In the last year, approximately 1,203 rented units and 374 owned units were under construction in the city, compared to 737 rented units and 112 owned units a year ago.
 
The report also shows movement within the top 15 downtown employers.
 
Target’s downtown workforce climbed by 183 employees despite a round of layoffs early last year.
 
Meanwhile, Hennepin County Medical Center, which held its spot as the city’s second-highest employer, dropped about 200 employees year-over-year, while building management company ABM also shed more than 100 employees.
 
In terms of ranking, Thrivent jumped ahead of Capella Education and Star Tribune, as Deloitte fell off the list. SPS Commerce was the only company to emerge as a new entry, landing in the 13th spot.
 
Notably, four of the organizations that rank among downtown Minneapolis’ top 15 employers are government agencies:
 
  1. Target — 8,333 employees (up 2.3 percent over last year)
  2. Hennepin County Medical Center — 7,105 employees (down 2.7 percent)
  3. Wells Fargo — 7,000 employees (no change)
  4. Hennepin County — 6,595 employees (up 0.7 percent)
  5. Ameriprise Financial — 4,893 employees (down 1.1 percent)
  6. U.S. Bank — 4,651 employees (up 3.2 percent)
  7. Xcel Energy — 2,351 employees (down 2 percent)
  8. City of Minneapolis — 2,060 employees (down 1.4 percent)
  9. RBC Wealth Management — 1,475 employees (no change)
  10. Thrivent Financial — 1,352 employees (up 28.5 percent)
  11. Capella Education — 1,258 employees (down 2.6 percent)
  12. Star Tribune — 1,096 employees (down 7.4 percent)
  13. SPS Commerce — 1,002 employees (did not make last year’s list)
  14. Federal Reserve Bank — 970 employees (up 1.4 percent)
  15. ABM — 910 employees (down 16.4 percent)
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