When asked about Minnesota’s competitiveness for med-tech companies, John Boyd remarked that the Twin Cities does have advantages over other cities. But he couldn’t stop talking about the advantages of Sioux Falls. In his interview with the Minneapolis Star-Tribune, this med-tech consultant raved about the low costs and high tech environment in Sioux Falls. He named Avera and Sanford Health systems by name, and all but personally endorsed the city as a new site for medical technology firms looking to start a new site.
The advantages of Sioux Falls over a city like Boston or San Diego are clear–costs, costs, costs–but that had been the main attraction to Minneapolis. Now, with growing costs in Minneapolis from taxes, Sioux Falls has an advantage even over our close neighbor.
What’s more, he comments that Canadian companies are looking to take advantage of the falling dollar by establishing sites in the U.S, but easy access to Canada will continue to be a plus. Still, Minneapolis will has better infrastructure in the form of an international airport and local transit options.
The climate is changing, Boyd says. Once a small city like Sioux Falls, might have difficulty attracting talent. Now, with the country’s cost consciousness reset, Sioux Falls looks like a bargain, not just for companies, but for families and individuals looking to buy a home or start a business.