Two local companies make Forbes' most innovative list

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Two Minnesota companies are listed on Forbes magazine’s list of the world’s 100 most innovative companies.

Ecolab Inc. ranked 33rd on Forbes’ list. The St. Paul based cleaning chemicals business previously made the list for top innovators in 2011 and 2012.

Pentair, which is based in Switzerland but managed out of Golden Valley, came in at 96th on the list. It's first time the pump, valves and filtration manufacturer was recognized by the financial magazine.

Forbes based the annual list on growth, future cash flow projections from existing businesses and current market capitalization. The end formula provided an “innovation premium” figure that determined rankings. Companies had to provide seven years of financial data, a certain amount of research and development spending, and at least $10 billion in market capitalization.

The Star Tribune notes that the makeup, perfume and skin care giant Estée Lauder Co., which owns Blaine-based Aveda, placed 15th on Forbes list.

The online list is posted but the magazine doesn't officially hit newsstands until Sept. 2.

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List of 'World's Most Innovative Companies' includes two in Minnesota

Forbes magazine has once again recognized St. Paul-based Ecolab and Golden Valley-based General Mills on this year's list of the “The World’s Most Innovative Companies." Ecolab ranks No. 31 and General Mills is 50th out of 100 global companies. Both Minnesota-based firms were on the magazine's 2011 list.