Destination Medical Center Economic Development Agency (DMCEDA) is proud to announce the successful completion of Phase 1 of the $3 million Main Street Revitalization Grant program. This significant milestone marks a transformative step forward in enhancing the economic vitality and appeal of downtown Rochester.
The Main Street Revitalization Grant program, administered by DMC EDA in partnership with the Minnesota Department of Employment and Economic Development, aims to support and promote the growth of businesses and enhance the vibrant downtown core of Rochester. The program is part of the broader initiative undertaken by the Destination Medical Center (DMC) to position Rochester as a premier global destination for healthcare, innovation, and economic development.
Prior to Phase 1 of the program going live, an extensive collaboration process between DMC EDA and a co-design team that helped guide the application and review process. Using a community review team, businesses were chosen to receive grants based on their potential to create and retain permanent jobs, revitalize properties in the eligible districts harmed by the events of the past two years, elevate opportunities for BIPOC, veteran, or disabled business and property owners, or enabling existing businesses to strengthen and diversify their products and services. The grants were used to fund various capital improvement projects, not for business operating expenses.
Of the 54 projects that were awarded funds, 24% went to Black, Indigenous, or People of Color-owned businesses and 30% was awarded to women-led enterprises. Twenty-two of the projects occupied unused or underutilized properties and over 270 permanent jobs were created.
The grants went to a variety of organizations including:
- Retail and Dining – 31
- Office, Technical, & Mixed Use – 13
- Non-profit – 5
- Housing & Lodging – 5
The Main Street Revitalization Grant program aligns with the DMC’s overarching vision to create a vibrant and sustainable urban core that will serve as a catalyst for economic growth, job creation, and improved quality of life for residents and visitors alike. By investing in the revitalization of downtown Rochester, DMC aims to foster an inviting atmosphere for businesses, encourage entrepreneurship, and provide an exceptional experience for all who visit downtown Rochester.
Looking ahead, DMCEDA remains committed to continuing its collaborative efforts with the local community, businesses, and stakeholders to ensure the success of Phase 2 of the Main Street Revitalization Grant program which focuses on areas that are outside the DMC district.
For more information about the Main Street Revitalization Grant program and other initiatives by Destination Medical Center Economic Development Agency, please visit the Main Street Revitalization Grant webpage.