Inver Grove Heights, Minnesota, has emerged as a dynamic center for business and economic development. With a population exceeding 35,000 residents, the city offers a blend of suburban tranquility and economic vitality.
Economic Landscape
The city’s economy is characterized by a diverse range of industries. Health care and social assistance lead the employment sector, engaging approximately 2,660 individuals. Manufacturing and professional, scientific, and technical services also play significant roles, employing 1,985 and 1,942 residents, respectively. Notably, the professional, scientific, and technical services sector offers the highest average annual salary at $95,565, followed by utilities at $91,276, and finance and insurance at $89,638.
Major Employers
Inver Grove Heights is home to several prominent employers. CHS, Inc., a Fortune 500 agricultural cooperative, has its headquarters in the city. Additionally, the Pine Bend Refinery, the largest oil refinery in Minnesota and the fourteenth largest in the U.S., operates within the city limits. Gertens Greenhouses, one of the largest garden centers in the nation, also contributes significantly to the local economy.
Housing Market
The housing market in Inver Grove Heights reflects the city’s economic health. As of March 2026, the median sale price for homes was $384,000, marking a 3.8% increase from the previous year. Homes typically remain on the market for 71 days, indicating steady demand. The average rent for an apartment stands at $1,460 per month, with a 3.0% increase over the past year.
Workforce and Education
The city’s workforce is well-educated, with over 90% of adults holding a high school diploma and more than 30% possessing a bachelor’s degree or higher. This educational attainment supports a robust labor market, with a civilian labor force participation rate of 71.0% among residents aged 16 and over.
Local Business Initiatives
Inver Grove Heights fosters a supportive environment for local businesses and entrepreneurs. The city offers various incentives and resources to encourage business development, contributing to a vibrant local economy. Recent additions to the business community include establishments like Cuppa More Pages, a bookstore café that combines literature and coffee, enhancing the city’s cultural and economic landscape.
Inver Grove Heights continues to thrive as a hub for business and economic growth, offering a supportive community, diverse industries, and a skilled workforce that collectively contribute to its ongoing success.
