The City of Cambridge

Overview
Located 45 miles straight north of downtown Minneapolis on Highway 65, Cambridge offers the closest tax-free JOBZ development zone to the city. This thriving regional center is a place of promise for companies ready to relocate or expand on the north side of the 11-county Metro MSP region. Located in one of the fastest growing counties in the state, Cambridge is expected to reach 11,000 residents by 2020. It is home to more than 25 tech-intensive manufacturers. They cover diverse industries -- including metals, plastics, automotive parts, printing, testing labs, food processing and materials handling. Local companies provide a wide range of finished goods or parts -- including medical devices, recreational vehicles, grain-handling equipment, food products, electronic equipment, automobiles and other products. The community is ideally suited to manufacturers looking for high quality industrial parks and a growing, small-town workforce; medical device firms wanting to tap the region’s biomedical training opportunities and JOBZ benefits; distribution centers wanting to avoid metro area congestion; and professional services and back office firms needing skilled labor, connectivity and a rapidly growing area. Unlike many neighboring communities along I-35 and MN 65, Cambridge has large contiguous parcels of dry, buildable land. Development sites in all three parks feature excellent city services. All are eligible for tax-free JOBZ benefits. Large tracts outside the JOBZone also are available for retail development.

Commercial Transportation
Cambridge has I-35 available for transportation that is located 13 miles away. In addition, MN-65 is a four lane highway located within city limits.

Commercial Property
Cambridge had 38 commercial building permits in 2007 totaling $5,433,983 and $148,755,100 in commercial assessed market value property in 2008.

Tax Rates
In 2008, the municipal tax rate was 59.16% and the county tax rate was 42.68%

Demographics
The population of Cambridge in 2000 was 5,520 people that was spread out with 24.9% under the age of 18, 8.7% from 18 to 24, 25.6% from 25 to 44, 17.8% from 45 to 64, and 23.1% who were 65 years of age or older. The median age was 38 years. The median income for a household was $35,313 and the median income for a family was $53,381.