The Destination Medical Center (DMC) investment in the Rochester community is more $6B; most of that privately funded. It is a 20-year initiative that will redesign the city creating a spillover benefit to the state of Minnesota as a whole. Rochester is home to the famed Mayo Clinic and a growing startup health technology community. The DMC will accelerate and complement what is already happening in Rochester, and will help Minnesota retain its place as the great state of everything healthcare.
The project is much more than a city planning and economic development effort as attendees at the first Board of Directors Senior Executive Briefing learned on February 17th at our Medical Alley Association (MAA) headquarters. Lisa Clarke, Executive Director of the DMC and Patrick Seeb, the head of economic development, delivered a briefing to approximately 40 guests of the MAA board, laying out the details of the enormous DMC effort, providing the why and the how.
Explaining “why DMC” is simple. Rochester, Mayo Clinic and the surrounding businesses are growing – but not at the predicted pace they could grow. The project is expected to accelerate overall growth and when it does, everyone reaps the rewards.
The DMC recognizes that the city is not currently equipped to accommodate the population growth and resource consumption of the initiative. DMC will prepare the city with housing, they will fund entertainment, arts and cultural additions to increase the readiness of Rochester’s forthcoming transformation. The DMC investment should have a collateral benefit of increasing new business formation and diversifying the economy.