The DMC Corporation (DMCC) Executive Committee announced today that the private investment threshold of $200M needed for DMC to receive state dollars for public infrastructure improvements has been met. In fact, private investments in the DMC District from July 2013 through the end of 2016 totaled nearly $298M, exceeding the $200M requirement by nearly $100M.
“Reaching this important milestone reaffirms that we are on the right track, and Rochester is already experiencing growth and new opportunities,” says Lt. Gov. Tina Smith, DMCC Board Chair, who submitted the 2016 private investment draft report to the Minnesota Department of Employment and Economic Development (DEED) on behalf of the DMCC Board.
Initiatives with the magnitude and impact of Destination Medical Center sometimes require board-level decisions to be made between official board of directors’ meetings. In instances like these, an executive committee is often charged with fulfilling limited board responsibilities to help maintain an organization’s momentum relative to time-sensitive issues and ensure projects continue to move forward as scheduled.
In January 2017, the Destination Medical Center Corporation (DMCC) Board of Directors approved a Resolution establishing an executive committee to do just that. As outlined by the Resolution, the committee may act only during intervals between board of directors’ meetings and is subject to the authority and direction of the full board.
From Discover to Dream, the Destination Medical Center’s Heart of the City public space design team is taking their direction from you.
On March 9, the design team invited community members to take part in the second phase of the design process at a Community Workshop at the Rochester Art Center. More than 130 people attended the 2 ½ hour interactive event.
“The turnout was great,” says Adam Ferrari, owner of the Rochester-based architecture and design firm 9.SQUARE and a member of the design team. But what struck Ferrari was the engagement by the group. “With events like this, it usually goes one of two ways,” he says. “People either react negatively – or they roll up their sleeves and get to work.” This group, according to Ferrari, did the latter.
If you’ve spent much time in Rochester, you might be familiar with Mayo Clinic’s principal value: “The needs of the patient come first.” One of the reasons why Destination Medical Center was created is to ensure that the patient experience is positive, both inside and outside the walls of the clinic. But the individuals that make up the Mayo Clinic workforce – and put the patient needs ahead of their own – are what sets Rochester apart from other medical communities. But this week, Mayo Clinic was recognized for putting the needs of its employees high as well.
Take care of your employees and they’ll take care of you.
Every year, Fortune magazine publishes a list of the “100 Best Companies to Work For,” and for the 14th year in a row, Mayo Clinic has made the list. The rankings are based on the results of the Great Place to Work Institute’s employee trust survey, which evaluates companies on five factors: credibility, respect, fairness, pride, and camaraderie.
If you’ve ever heard Shaye Mandle of Medical Alley Association speak, the story he shares sounds remarkably like the story of DMC. That’s because he is telling the story of Minnesota, and Rochester – home to Mayo Clinic – has long been the cornerstone of conversations related to medicine in the state and throughout the nation.
“Mayo Clinic has been one of the most important members of [the Association] since it was founded in 1984,” says Mandle, Medical Alley’s president and CEO. “They are the number one, gold standard for clinical excellence in this country.”
A diverse business landscape is critical to Rochester becoming a true Destination Medical Center. It will take more than excellence in patient care for the DMC vision to succeed. Susan Windham-Bannister knows this well.
Windham-Bannister is a life sciences industry expert and president and CEO of Biomedical Growth Strategies. She has spent years working in areas like New York, Boston, and Maryland to help communities create environments that are enticing to startups and established businesses alike.
Windham-Bannister joined more than 35 stakeholders from across the state to share her experiences and provide insight on how our own community should go about setting priorities to ensure DMC’s success.
1: the introduction of something new; 2: a new idea, method, or device:novelty
Innovation is at the heart of Rochester’s entrepreneurial spirit and the vision of DMC. And while Rochester is undoubtedly a city focused on health and wellness, having a diverse workforce is critical to a strong and prosperous community.
Our state’s leaders have also recognized the importance of fostering innovation. Earlier this week, Lt. Gov. Tina Smith and the Department of Employment and Economic Development (DEED) launched #InnovateMN, a digital campaign to highlight original businesses throughout the state and help connect them with state funding.
Lt. Gov. Smith and DEED’s Commissioner, Shawntera Hardy, said the campaign will celebrate emerging technologies and discoveries in Minnesota by sharing stories of businesses and startups on the leading edge. With Minnesota ranking annually among the top five states in new patents, those stories are plentiful. “Innovation is embedded in our identity,” says Smith.
No matter how you slice it, DMC’s Discovery Square sub-district will be a cornerstone of Rochester’s efforts to become America’s City for Health. A recent story by National Public Radio’s Marketplace showcases the transformation that is taking place in Rochester.
The Discover Report was the result of 17 days of interviews, surveys, and pop-ups conducted by the Heart of the City public space design team and the culmination of their first phase of design work. During this process, the design team met with hundreds of people – visitors, patients, and community members alike – recognizing that they must understand the community well because “solutions for Heart of the City need to be authentic to Rochester.”
Board also reviews Mortenson roadmap for Discovery Square Project
ROCHESTER, Minn. (Feb. 8, 2017) – Highlighting the growing momentum of the Destination Medical Center initiative, the DMCC Board of Directors today approved a $38 million mixed-used development project. The development would bring 156 market-rate apartments, retail shopping, public parking and pedestrian access to downtown Rochester.
“The Destination Medical Center and Rochester continue to attract private investment and innovation, as our actions at this Board meeting demonstrate,” said Lt. Gov. Tina Smith, chair of the DMCC Board. “The momentum with Discovery Square, which will be a nation-leading center for life science innovation, is especially encouraging. We need to keep this momentum going and continue working with Rochester, Mayo Clinic, and the private sector to expand jobs and opportunity in America’s City for Health, and all of Minnesota.”