It’s going to take a lot of money to redo Rochester, but that’s the bold aim of a Mayo Clinic project known as Destination Medical Center.
The DMC, begun in 2013, will see Mayo expand its campus as the city of Rochester invests in new infrastructure to support more employees, more patients and more businesses. By 2033, when the plan turns 20, the city should be a shining example of public-private partnership and an international hub for health care, research and medicine. That’s the plan.
So how much money does it need? Mayo officials say they will invest $3 billion over the DMC’s lifetime, and expect to court an additional $2.1 billion in private investment.
The Legislature kicked in $585 million of taxpayer funds, but that money is locked up for now. The public money only becomes available after Rochester attracts $200 million in private investment. That should happen sometime this year.
This map shows the amount and location of each investment so far, some as large as the $9 million Mayo Dermatology unit remodel and some as small as a new $1,800 projecting sign at the Kahler Grand Hotel’s Dunkin’ Donuts. Each investment was reviewed by the state Department of Employment and Economic Development to be sure that it aligns with the DMC’s goals.
These certified investments totaled more than $150 million at the end of 2015. It’s widely expected that private dollars will surpass $200 million by the end of this year, the amount necessary to release the $585 million pool of public money set aside for infrastructure improvements.
Only Mayo projects worth more than $1 million are shown in the map, although many are in the same location, so we've nested them together. Click on a location for project details.
Source: Mayo Clinic, Department of Employment and Economic Developtment