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Economy

Early in the city's history, millers were required to pay for wheat with cash during the growing season and then to store the wheat until it was needed for flour. The Minneapolis Grain Exchange was founded in 1881; located near the riverfront, it is the only exchange as of 2023 for hard red spring wheat futures.

Along with cash requirements for the milling industry, the large amounts of capital that lumbering had accumulated stimulated the local banking industry and made Minneapolis a major financial center. The Federal Reserve Bank of Minneapolis serves Minnesota, Montana, North and South Dakota, and parts of Wisconsin and Michigan; it has the smallest population of the twelve districts in the Federal Reserve System, and it has one branch in Helena, Montana.

Minneapolis area employment is primarily in trade, transportation, utilities, education, health services, and professional and business services. Smaller numbers of residents are employed in government, manufacturing, leisure and hospitality, and financial activities.

In 2022, the Twin Cities metropolitan area tied with Boston as having the eighth-highest concentration of major corporate headquarters in the US. Five Fortune 500 corporations were headquartered within the city limits of Minneapolis: Target Corporation, U.S. Bancorp, Ameriprise Financial, Xcel Energy, and Thrivent. Other companies with offices or headquarters in Minneapolis include Accenture, Bellisio Foods, Canadian Pacific, Coloplast, RBC, Deloitte, PricewaterhouseCoopers, and Voya Financial.