Inver Grove Heights, Minnesota, has emerged as a dynamic center for business and economic development. With a population of approximately 36,000 residents, the city offers a blend of suburban tranquility and economic vitality.
Economic Landscape
The city’s economy is characterized by a diverse mix of industries. Key sectors include manufacturing, agriculture, healthcare, retail, and other services. Manufacturing leads with 31% of the employment share, followed by agriculture at 26%, healthcare at 19%, retail at 14%, and other services at 10%.
Inver Grove Heights is home to several prominent businesses. CHS, Inc., a Fortune 500 agricultural cooperative, has its headquarters here. Additionally, the city hosts the Pine Bend Refinery, the largest oil refinery in Minnesota and the fourteenth largest in the U.S., operated by Flint Hills Resources. Gertens Greenhouses, one of the largest garden centers in the nation, also calls Inver Grove Heights home.
Housing Market and Income
The housing market in Inver Grove Heights reflects steady growth. As of May 2026, the median sale price of a home was $380,000, marking a 2.6% increase from the previous year. Homes typically sell after an average of 32 days on the market.
Residents enjoy a strong median household income of $104,055, which is notably higher than both the state and national averages. This financial stability contributes to a low poverty rate of 4.6% and an unemployment rate of 3.6%.
Support for Local Businesses
The city fosters a supportive environment for local businesses and entrepreneurs. Its strategic location, just 10 miles southeast of downtown St. Paul, provides easy access to major highways, facilitating commerce and trade. The local government offers various incentives and resources to encourage business development, contributing to the city’s economic resilience.
Inver Grove Heights continues to thrive as a hub for local businesses, offering a robust economy, diverse industries, and a supportive community for entrepreneurs and established companies alike.