Geno Palazzari, Communications Manager
Destination Medical Center Economic Development Agency
Direct: 307-696-9088 | [email protected]
Megan Moeller, Communications and Engagement Coordinator
City of Rochester
Direct: 507-328-2436 | [email protected]
Molly Schmidt, Director of Marketing & Communications
Rochester Area Economic Development, Inc.
Direct: 507-288-0208 | [email protected]
FOR IMMEDIATE RELEASE
DMC Announces Second Phase of Main Street Grant Funding
December 21, 2022 – ROCHESTER, MINN. – Destination Medical Center (DMC) Economic Development Agency is pleased to announce the beginning of the second phase of grant funding from the Minnesota Department of Employment and Economic Development (DEED) Main Street Economic Revitalization Program. In partnership with Rochester Area Economic Development, Inc. (RAEDI), this round of grants will be for two business districts outside of the DMC district – Southeast Crossroads to Bear Creek Park area, and the Northwest Design District & Northgate Area.
“The Main Street Economic Revitalization Program funding remains critical to Minnesota’s recovery from COVID-19,” said Minnesota Department of Employment and Economic Development (DEED) Deputy Commissioner Kevin McKinnon. “These funds – put into the community through local partners like the Destination Medical Center Economic Development Agency – help create opportunity and energize economic revitalization across Minnesota.”
“These grant dollars are crucial for the businesses affected in these districts in Rochester. We are happy to partner with DMC in administering this grant and serving small businesses who are vital to our economy,” said RAEDI President John Wade.
While downtown Rochester has been severely disrupted by the pandemic, businesses in the surrounding neighborhoods have also experienced significant economic disruption. These neighborhoods tend to be more diverse, include strong BIPOC business ownership, and are highly dependent upon existing commercial establishments in areas that are typically food and service deserts.
DMC EDA and RAEDI seek to strengthen the position of Rochester’s neighborhood-based business centers. Catering to diverse populations, these areas provide unique commercial opportunities to the communities they serve. Walkable and served by transit, these business hubs are key destinations where residents shop, dine, and receive professional services. The typical business building in the two commercial corridors defined in this grant application was built in 1959, highlighting the potential need for capital improvements in these districts.
“The success of the Main Street program in Rochester is a testament to the resiliency of our business community; their desire to thrive and succeed,” said Patrick Seeb, DMC’s executive director. “We will continue to look for other strategic partnerships and opportunities to improve and strengthen Rochester’s economy.”
“I cannot stress enough how important this program has been to Rochester’s continued recovery,” said Rochester Mayor Kim Norton. “And now, through a new partnership, we can share this program with more needed areas in our community”.
The Main Street Grant program kicked off in May 2022. Thus far, the DMC EDA board and the community review team have recommended over $2 million to be distributed to 35 businesses in the downtown core.
All grant awards are subject to final approval from the Minnesota Department of Employment and Economic Development.
About the Main Street Grant Program
The Main Street Grant program provides grants for capital improvement projects that result in improvements to any permanent structure or other asset added to a property that adds to its value. The grant awards can cover up to 30% of the project costs with applicants securing other sources of funding to match any funds granted by this program. Funding comes from the Minnesota Department of Employment and Economic Development’s Main Street Economic Revitalization Program.
For more information on the Main Street Grant program and to apply, visit dmc.mn/ms.
About Destination Medical Center
Destination Medical Center (DMC) is the largest public-private economic initiative in Minnesota’s history. The 20-year plan to transform Rochester into a global destination for health and wellness will attract developers, investors, startups, and entrepreneurs to live, work, and play in America’s City for Health. Destination Medical Center Economic Development Agency is a private non-profit established to provide experience and expertise in developing and marketing on behalf of Destination Medical Center Corporation. For more information, visit dmc.mn.
About Rochester Area Economic Development, Inc.
Incorporated in 1985, Rochester Area Economic Development, Inc. (RAEDI) is a public/private partnership for economic development that serves Olmsted, Dodge, Wabasha, and Fillmore Counties. Our mission is lead and support economic, community, and workforce development initiatives that retain, grow and diversify the greater Rochester area economy. Some of the services provided include financial packaging, business planning, site/location support, and business/community advocacy. For more information, visit www.raedi.com.
About Minnesota Department of Employment and Economic Development
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade, and community development. For more details about the agency and its services, visit the DEED website.