The Minneapolis/St. Paul International Airport is 20 minutes away from Lakeville's Airlake Airport, a Metropolitan Airports Commission reliever airport serving the community's corporate and private aviation needs. In 2022, Airlake Airport had 38,268 operations (a 5.54% increase from 2021). Aloft Aviation is Airlake Airport’s fixed-base operator, offering flight training and aircraft rentals.
Progressive Rail, Inc. offers short-line rail service to Airlake Industrial Park.
In addition to its transportation advantages, the City of Lakeville has an Aaa rating from Moody’s Investors Service, which reflects the city’s robust economic and financial performance, solid management practices, and strong reserves. Lakeville also has one of the lowest municipal tax rates in Dakota County. The Dakota County property tax rate remains the lowest county tax rate in the metro area and one of the lowest in the state. (The tax rate is the amount of money (levy) needed to pay for essential services, divided by the tax base, and Dakota County has a growing tax base.)