Expanding Twin Cities business finds success in Rochester

For years, Rochester has been ranked as a best place to live, a most affordable city, and a top community for entrepreneurs. And while the words “Mayo Clinic” and “health care” may be the first things that come to mind when people think of Rochester, owners and investors in a variety of industries are seeing Rochester as a viable place to do business.

LKPB Engineers is a Twin Cities-based firm that provides mechanical and electrical engineering services for corporate, municipal, healthcare, educational, and other facilities. The company has been in business for nearly 50 years and, until recently, they were primarily a single location office in the Twin Cities metro.

Developer and investor interest in Rochester grows

First Avenue Flats Ribbon-Cutting

From groundbreakings to grand openings, Rochester is flourishing as developers and investors from around the world take notice of the opportunity that exists in America’s City for Health.

In the last two weeks alone, First Avenue Flats opened to 75% occupancy; the first building in Discovery Square was introduced; public funding raising efforts have begun for the Ronald McDonald House expansion; and the Mayo Civic Center celebrated its grand opening. Diverse construction projects like these offer the infrastructure needed to support Rochester’s projected growth.

TEDxZumbroRiver: What’s Possible?

Can you feel it?

Rochester is changing and it’s even more than a geographic and economic expansion. Minds are shifting, opening, and discovering ways to improve our communities and lives. Organizations and initiatives are being formed, people are coming together to explore ideas, and events are being organized that feed this new expansive way of thinking. The fact that Rochester is holding its second annual TEDx event (TEDxZumbroRiver) is a perfect example of this movement of the mind.

On Thursday, May 18 from 4-8 p.m., the second annual TEDxZumbroRiver event will be held at Autumn Ridge Church in Rochester. The venue seats about 1,000 people and it is expected to sell out as it did last year.

Press Release: First Building Announced in Discovery Square

ROCHESTER, Minn. (Apr. 27, 2017) – Representatives from Mortenson announced today to members of the Destination Medical Center Corporation (DMCC) Board of Directors the specific location where construction will take place on its hallmark Discovery Square project.

The planned 60,000+ square foot, state-of-the-art research and development complex, currently being designed by RSP Architects and HOK, will be built at the corner of 4th Street SW and 2nd Avenue SW, according to Mortenson representative Jeremy Jacobs.

An integral part of the DMC vision, the 16-block sub-district in downtown Rochester known as Discovery Square will become one of the leading life science research campuses in the United States. The densely organized, mixed-use neighborhood will consist of life science businesses, new start-ups, and residential options anchored by a signature space.

Discovery Square will be a bridge to the mission of Mayo Clinic, serving as an extension of the Mayo Clinic’s team-based model of care and providing a new address for the future of life science, research, education, technology, and innovation. Over the next 20 years, Discovery Square is expected to expand Mayo’s research and product development space by more than two million square feet.

In 2016, Mayo Clinic selected Mortenson Company as its development partner for the first phase of its Discovery Square initiative. In January, Mortenson selected RSP Architects and HOK to design the facility. Mortenson expects to begin construction later this year and complete the project by 2019.

“The DMC vision for Discovery Square is coming to life,” said Lisa Clarke, executive director of the Destination Medical Center. “The vibrant life sciences hub will bring forward-thinking business professionals, students, educators, and innovators from around the world together in Rochester to accelerate research, improve delivery, and advance patient care.”

The next scheduled meeting of the DMCC Board of Directors will take place on July 27, 2017.

###

 

DMC presents Real Estate Development & Investment Summit

As developments progress in the DMC District and throughout the city, the confidence of investors and developers in the future of Rochester is becoming more and more apparent. Over the next 20 years, DMC will continue to drive the city’s growth and position Rochester as the ideal place to grow a business, invest in a development project, or raise a family.

At the Rochester Real Estate Development and Investment Summit – to be held on May 4, 2017 – attendees will learn how DMC is shaping the market forces in the city, region, and state and the impact the initiative is making on real estate and investment.

Impact through immersion: Q&A with Jeanine Gangeness of WSU-Rochester

With more than 45 two- and four-year postsecondary institutions within 90 miles of Rochester, the city is a breeding ground for thinkers and innovators. The state’s strategic focus on world-class education is also positioning Minnesota as national leaders in workforce development.

DMC sat down with WSU-R’s associate vice president, Jeanine Gangeness, to learn more about the college’s presence in Rochester and plans for growth.

TEDxZumbroRiver Reveals 2017 Speaker Line Up

“What’s possible?”

Innovation and entrepreneurial thinking are critical during this time of transformation in Rochester, especially as Discovery Square begins to take shape. On May 18, hear from ten speakers during the second annual TEDxZumbro River as they explore “what’s possible.”

The TEDxZumbroRiver 2017 speaker lineup includes ten speakers – six local and four national. The speakers were selected for their fresh and original approach to this year’s topic, “Possibility.” The lineup boasts speakers from the local community – scientists, physicians, engineers, artistic directors, poets, writers, educators, and beyond. Each speaker brings a unique background to the stage and is passionate about bridging gaps in the local community.

On a national level, the TEDxZumbroRiver curation team is excited to bring to Rochester, CEO’s, company founders, nationally-recognized authors, and world-renowned physicians to present their inspiring take on the topic of Possibility.

Press Release: Major Milestone: DMC exceeds $200 million private investment threshold for unlocking state dollars

ROCHESTER, Minn. (March 23, 2017) – The Destination Medical Center Corporation (DMCC) Executive Committee announced today that the DMC economic development initiative exceeded the $200 million private development investment threshold –needed to trigger the release of state DMC dollars to be used for public infrastructure improvements – by $97.7 million, totaling $297.7 million in private investment.

“Reaching this important milestone reaffirms that we are on the right track, and Rochester is already experiencing growth and new opportunities,” said Lt. Gov. Tina Smith, DMCC Board Chair. “With the $200 million threshold met, I look forward to working with the State of Minnesota, Rochester community and Mayo Clinic to invest in transportation, world-class amenities, and other public infrastructure that supports opportunity for everyone.”

A major milestone: DMC exceeds $200M private investment threshold for unlocking state dollars

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.

Lt. Gov. and DMC Corp. Board Chair Tina Smith

“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.

DMCC establishes executive committee to ensure continued progress

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.