What is DMC?
The Future of Minnesota’s Global Healthcare Economy
Destination Medical Center (DMC) is an innovative economic development initiative to secure Minnesota's status as a global medical destination now and in the future.
Today's competitive health care environment is driving a small number of select medical institutions to emerge as leaders in delivering the highest quality medical care and attracting patients and visitors from throughout the world. Mayo Clinic's continued success in Minnesota depends on Rochester's ability to sustain quality access, development, service and public infrastructure necessary to remain competitive with other destination medical centers in the U.S. and abroad.
The economic development plan has been established to meet five (5) core objectives, including:
Sustain Rochester and Minnesota as a global medical destination that offers patients a welcoming, comfortable and engaging environment in which to receive the most advanced medical care in the world.
Grow Rochester as a magnet community attracting the most promising students and sophisticated healthcare professionals, thinkers and educators from across the globe.
Leverage Mayo Clinic’s presence in Minnesota to ignite institutional and commercial research in an environment that encourages shared knowledge, partnerships, medical advancements and innovation.
Create unparalleled and meaningful experiences of hope, health and hospitality for every person, every day.
Provide the ideal patient, companion, visitor and citizen experience to become the world’s premier destination medical community.
Mayo Clinic has provided a destination for hope and healing for almost 150 years. DMC will help perpetuate this legacy and provide meaningful experiences of hope, health and hospitality for patients coming to Minnesota for care.
A Sound Investment in Our Future
Today, Mayo Clinic in Minnesota employs more than 38,000 people and generates more than $9.6 billion in economic impact to the state.
The DMC initiative represents the largest economic development opportunity in Minnesota and is one of the largest in the country. It will result in significant economic benefits for the State and local Jurisdictions and will create significant job growth and new business opportunities. The key elements of the strategy:
Nearly $6 billion in private investment in the market, realizing approximately $10 to $1 in private to public investment
A public investment proposal of $585 million from State and local jurisdictions.
The investment is not an upfront payment but instead structured over a 20 year period.
The public investment is based on a "value capture" model that relies on using a small percentage of the new state tax revenues generated. The availability of funds is only realized if private investment is made and economic growth occurs in the market.
NONE of the public dollars will be used to pay for Mayo buildings and/or programs.