The City of Minneapolis is renewing a push to make it even easier for businesses, developers, investors and visitors to take advantage of building in the City of Lakes through its new initiative, In Minneapolis. The initiative connects people directly to downtown property opportunities, City services and other tools to support growth. Whether opening a business, investing in property, reimagining an existing building or planning an event, In Minneapolis will help people find the resources and connections to bring their ideas to life.
“It’s not enough to say Minneapolis is open for business and primed for growth. We have to show it in our attitude, our policies, and our approach,” said Mayor Jacob Frey. “When people look to do business in Minneapolis, they will be welcomed with a ’get-to-yes‘ attitude, streamlined processes, and a team prepared to embrace the next phase of Downtown. We won’t sit back and wait for business to happen. In Minneapolis will set the table for innovation.”
In Minneapolis organizes opportunities around four goals:
- Grow: Businesses can explore office and retail spaces and financing tools to support a move or expansion.
- Invest: Investors can learn about why Minneapolis is a sound investment.
- Build: Developers can explore support for adapting buildings to new uses, including converting office space into housing.
- Host: Event organizers can find City resources, venues and connections to bring meetings, events and other experiences to Minneapolis.
Making it easier to do business with the City
Downtown Minneapolis is already home to several Fortune 500 companies including Target, U.S. Bank Corp., Xcel Energy, and Thrivent Financial, connecting downtown to a broader regional business community. With its access to employers, cultural attractions, dining, entertainment and transportation, downtown Minneapolis offers businesses and investors an opportunity to be part of a major metropolitan economy. In Minneapolis builds on investments already underway in downtown including the number of events over this past summer demonstrating how Minneapolis is an attractive place to invest, establish a business and spend time.
We are also cutting red tape in Minneapolis. This includes recent changes to the City’s construction permitting process which are helping businesses, property owners and residents move projects forward more quickly. Changes are reducing application requirements and speeding up approval timelines. For small residential projects, permit reviews have dropped from around 20 days to four days. The City will also soon have target timelines for larger residential and commercial projects.
Due to recent ordinance changes, we are also seeing building conversions in Minneapolis. The changes eliminated requirements and streamlined processes which in total are shaving 60 to 90 days off office-to-residential conversions processes. Improvements to the approval process support projects like the Grain Exchange, the Textile Building, and the International Design Center.
When it comes to activating vacant spaces in Minneapolis, the City supports new businesses through its Vibrant Storefronts Program, which subsidizes rent for businesses occupying selected vacant storefronts. The program filled all 13 available storefronts in 2024 and 2025, helping bring new businesses and activity into downtown spaces. Additionally, the Community Planning & Economic Development (CPED) department is investing $800,000 to help attract small businesses to downtown Minneapolis. A key part of the strategy is helping divide larger commercial spaces into smaller storefronts, creating more opportunities for local and independent retailers, restauranters and entrepreneurs.
The City has also invested $7 million through the Small Business Resiliency Fund to make it easier to stay in business. The fund provides license fee relief for food and beverage businesses, free event permits, no-cost business consulting, marketing and activation funding, and grants for cultural mall operators. These investments have helped businesses navigate challenges while creating opportunities for events, live music and other activities that bring people downtown.
We are also making it easier to hold events in Minneapolis. In 2026, Minneapolis recorded a high level of civic events, with 110 commercial block event permits issued through September. September alone saw 44 major events – more than any other summer month, and more than June and July combined – bringing people into the city and creating opportunities for nearby businesses.
“Whether you choose to build, host, grow, or invest in Minneapolis we are here to help you get through our processes quickly – making Minneapolis the easiest city to work with on your project,” said Community Planning & Economic Development Director Erik Hansen. “We do this work all day, every day, and our team will guide you through the process so that you are successful in Minneapolis.”
Join IN!
Downtown Minneapolis continues to draw people for business, entertainment, live sports, dining, arts and cultural experiences. From the Stone Arch Bridge and the downtown riverfront to restaurants, bars, coffee shops, bookstores and public art, downtown offers a range of places and experiences for residents and visitors.