TPEC researchers are in the final stage of completing a new Greater Minnesota Medical Device Industry Clusters report, which will expand on past research into the medical device industry cluster within the state. The story map developed in tandem with this research provides new perspectives on one of Minnesota's most dynamic industries and reveals the extent of the cluster’s reach beyond the Twin Cities metro area into Greater Minnesota.
In this study, researchers mapped the full extent of the medical device cluster and used spatial quantitative analysis to better understand its statewide impacts. This research demonstrated that while there is a concentration of companies involved in this industry within the Twin Cities metro area, many firms included in this cluster are highly dispersed throughout the state. Supply chain mapping of companies and key locations demonstrates the importance of regional transportation networks to facilitate imports, exports, and inter-cluster exchange of goods.
A case study of Granite Partners, which strategically utilizes relationships within the medical device cluster for competitive advantage, demonstrated the cluster’s benefits, including access to specialized skills and suppliers. Granite Partners also exemplifies a changing corporate role through “shared value” initiatives that aim to benefit communities.
The findings of this report offer valuable insights for policymakers on how this robust industry drives economic development and competitiveness across Minnesota, and how transportation infrastructure is crucial in supporting this cluster’s continued growth.
The TPEC team is also holding an event in February 2024 to bring key stakeholders together to present and discuss the findings of this report.
Upcoming Studies: Midwest Industry Cluster
For the next phase of this research, the TPEC Industry Clusters and Freight team will evaluate how the concept of circularity may be applied to industry clusters within the region. Broadly, the concept of circularity emphasizes the reduction of material use, the recapture and repurposing of waste, and the redesign of elements within the value chain to increase overall efficiency. Embracing circularity not only helps reduce reliance on raw materials but also encourages the reuse of existing resources, extends the life of products, and ultimately generates new opportunities for innovation and growth.
This research is intended to empower, support, and inform companies and policymakers navigating the transition from the conventional “Make-Take-Dispose” model to one rooted in circularity. Our goal is to uncover how the adoption of circular economy principles within industry clusters can boost competitiveness and simultaneously reduce their environmental footprint. As we delve into this intersection, we will examine the role of governance in this transition and explore opportunities and challenges that the integration of these principles will present to regional transportation systems.