The Minnesota Department of Employment and Economic Development (DEED) has certified $39.3 million in private investments in 2014 for development of DMC. Most of the investment has come from Mayo Clinic, according to the report.
DMC Corporation Board Chairwoman Lt. Gov. Tina Smith (D-Minn.) thanked Mayo Clinic for its “fantastic” investment in Rochester and DMC and said the board and DMC Economic Development Agency will continue working to attract external investors.
According to DMC law passed in the Minnesota legislature, DEED must certify at least $200 million in private investments in the DMC District before the state Treasury will release any public funding for infrastructure projects.
“We need to get to $200 million before the public money starts to flow, so we’re working hard to get there,” Smith said.View DEED Certification Letter