Over the past four years, Lieutenant Governor Tina Smith has provided valuable leadership to the DMC initiative as chair of the Destination Medical Center Corporation (DMCC) Board of Directors.
During her tenure, she has helped guide the DMC from its initial start-up, through the detailed planning, to the present where hundreds of millions of dollars of private investment are now underway in Rochester in support of the DMC vision.
Lieutenant Governor Smith has resigned from the DMCC board of directors; we wish her the best in her new role representing Minnesota in Washington, D.C.
ROCHESTER, Minn. (July 27, 2017) – The Destination Medical Center Corporation (DMCC) Board of Directors voted to approve the $35 million Mortenson project in the Discovery Square sub-district under the DMC Development Plan. The building is one in a series of DMC projects in the sub-district. The project will receive $4.9 million in DMC tax-increment financing.
“Today we take an important step forward with Discovery Square, a place where Minnesota’s next successful medical technology start-ups will be launched. This project will help diversify Rochester’s economy, create great jobs, and ensure Rochester remains America’s City for Health,” said Lt. Gov. Tina Smith, Chair of the DMC Board of Directors. “I thank Mortenson, Mayo Clinic, and the Rochester community for their work on this Discovery Square project. We have taken another important economic development step for the Destination Medical Center, Rochester, and Minnesota.”
ROCHESTER, Minn. (June 14, 2017) – The Destination Medical Center Corporation (DMCC) Board of Directors held a Transportation Work Session today to provide an update on findings since the DMC Transportation Workshop in April.
“A sustainable, comprehensive transportation plan is essential to the success of DMC. Today, we had a valuable discussion about Rochester’s needs, now and in the future,” said Lt. Gov. Tina Smith, chair of the DMCC Board. “Together with the Mayor, City Council, Olmsted County Board, and the EDA Board, we looked closely at design options, with the goal of making transportation work better for people in the DMC district and throughout Rochester and the region.”
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.”
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.
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.
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.”
Discovery Square and updates on the Destination Medical Center design guidelines were among the highlights in this week’s Destination Medical Center Corporation board meeting.
Earlier this month, Mayo Clinic and DMC made a major announcement about the next steps for Discovery Square, an urban research center where doctors, researchers, and scientists can work together on advancements in medical research, technology, and patient care.
“Mayo Clinic’s investment in Discovery Square is an exciting step for the city of Rochester. Discovery Square will propel the development of innovative ideas, products, and businesses in southeast Minnesota,” said Lt. Governor Tina Smith, DMC Corporation Board Chair.
The first building will break ground in 2017, and Mayo Clinic is currently searching for a real estate development firm to take on the project.
ROCHESTER, Minn. (June 23, 2016) – At today’s board meeting, the Destination Medical Center (DMC) Corporation Board of Directors discussed Mayo Clinic’s recent announcement of a major milestone for DMC’s Discovery Square; highlights from this year’s BIO International Convention; DMC urban design guidelines; and updates on DMC priorities, including Heart of the City and transportation.
“Mayo Clinic’s investment in Discovery Square is an exciting step for the City of Rochester. Discovery Square will propel the development of innovative ideas, products, and businesses in southeast Minnesota,” said Lt. Governor Tina Smith, DMC Corporation Board Chair. “We are well-positioned to make Rochester ‘America’s City for Health’ and the world’s premier destination for health and wellness.”