Our Economy

Population 2010-2020 Growth Rate

The Mankato-North Mankato ranks well when comparing our community to others with a similar population, communities with a similar college-aged population, and other communities across the Midwest.


The Mankato MSA has had steady population growth since 2010.  In the 10-year period between July 2010 and July 2020, the population of the Mankato MSA grew by 6.99%.  This exceeded the combined growth rate of the 32 MSAs in the upper Midwest (MN, ND, SD, IA, WI) by 4.78%.  Over the same 10-year period, communities with a similar college-aged population exceeded this, growing by 8.14%; however, those communities had an average population almost double (192,797) than that of the Mankato MSA. MSAs of similar size population (the 10 just above and the 10 just below) grew by only .59%.

For the full report and a detailed look at Mankato-North Mankato compared to communities of similar size, download the Greater Mankato Economic Report below – or review reports from prior years.
New and Expanding Businesses

Building and expansion activity continues to be strong in Greater Mankato. For details on these projects, download our report of business expansions in Greater Mankato. It provides a breakdown for the past four years and details by industry sector: primary (manufacturing, distribution, processing), professional services (attorneys, accounting, consulting), retail (restaurants, clothing, boutiques). It also provides data for government and education investments broken into investments for specific projects and infrastructure investments.

Greater Mankato Business Pipeline

The following charts and graphs illustrate business & development investments occurring between 2017 and 2021.

The full consolidated report gives a detailed listing of projects within this timeframe or view reports for individual years. 

Highlights from 2017-2021 Business Pipeline Consolidated Report:
Previous slide
Next slide
Historical Investment
Following the 2021 Pipeline Report, Greater Mankato’s 10-year investment rose to $1.5 billion. Greater Mankato’s 15-year investment in the City Center rose to $250 million.
Industry Diversification

Greater Mankato’s general economic makeup is highly diversified, with approximately 36% Primary Economy, 53% Professional/Service Economy and 11% Retail/ Consumer Economy. Even within these areas, the economy is diversified, with no sector accounting for more than 18% of the overall economy.