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Mankato Area Ranked Fifth Lowest for Cost of Doing Business

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The cost of doing business in Mankato is one of the best in the region. According to Moody's Analytics, the Mankato–North Mankato area ranks fifth in the Midwest.

The Mankato–North Mankato area ranks fifth in the upper Midwest for lowest cost to run a business.

Tom Fallenstein of the North Mankato company GoBuyFun is a prime example of a business success story, becoming CEO at age 24.

Fallenstein says, "Eight years ago we were out of my mom's basement so moving from our family house to a 50,000 square foot facility to 200,000 square feet facility all in less than eight years."

Now, Fallenstein is looking to employ more than 1,500 seasonal workers and he says the Greater Mankato area is the perfect place to attract quality workers.

Fallenstein says, "One particular thing is there's a lot of college students here so we get a lot of really fresh talent right out of school."

The Moody's report looked at cost of office rent, energy costs, unit labor and state and local taxes for five states: Minnesota, Wisconsin, Iowa and the Dakotas.

Rapid City, South Dakota was number one on the list.

Mankato was the top rated city in Minnesota, which came as no surprise to North Mankato Mayor Mark Dehen.

Dehen says, "I think people look at quality of living, you know we were ranked 109th on Forbes list and when you look at Mankato/North Mankato, it's a great place to live and work."

And Mankato ranked high on the national polls as well, placing in the top 17 percent of the nation.

A good sign for business owners like Fallenstein.

Fallenstein says, "Things are looking good. It's going to he one of our busiest years yet. Things continue to look good. We're looking forward to the future.

A future where Fallenstein doesn't have to be afraid of the dark.