Rochester, Olmsted County, Mayo Clinic Celebrate Passage of Destination Medical Center Bill
Legislation provides public finance tools to leverage significant private investment.
ROCHESTER, Minn. ā Leaders from the city of Rochester, Olmsted County and Mayo Clinic applaud the passage of the Destination Medical Center (DMC) legislation and thank the bill authors, legislative leaders and Gov. Mark Dayton for their support for this major economic development initiative. The legislation passed Monday as part of the tax bill. It will help fund the public infrastructure required to keep pace with an estimated $5 billion private investment by Mayo Clinic and other private entities over the next 20 years aimed at securing Rochester's and Minnesota's position as a global medical destination.
"DMC has enjoyed the support of a strong coalition of community organizations, local governments, labor organizations, businesses and others who were committed to the successful passage of this legislation, and we thank them for their hard work," says Rochester Mayor Ardell Brede. "We now have the tools in place from the state and at the local level to move this initiative forward and begin to leverage the commitment of private capital by Mayo Clinic and others into our community. This is an exciting day for the future of Rochester and we look forward to the next steps of community engagement and implementation as the plan is developed further and begins to come to life."
"Throughout this process, we have had the chance to meet with and talk to leaders from across the state and help them understand more fully the critical role southeast Minnesota plays in our state's economy," says Jim Bier, Olmsted County commissioner. "It is gratifying to see state leaders recognize southeast Minnesota for the economic engine that it is, and I thank them for their role in advancing this initiative that will provide significant job growth and tax revenue at both the local and state level. We are proud of our state's position as a global leader in health, healing and biosciences and excited about the opportunities DMC offers to further elevate that position in years to come."
"This is an historic moment for Mayo Clinic, the city, county and for the entire state of Minnesota," says John Noseworthy, M.D., Mayo Clinic president and CEO. "We offer our sincere thanks and gratitude to the leaders at the local, regional and state level who came together to help make this bold, once-in-a-generation economic development opportunity a reality for our state. In particular, I would like to thank the legislative chief authors, Rep. Kim Norton and Sen. David Senjem, for their leadership role in this successful effort. We look forward to working with the community to secure Mayo Clinic's global position here in Minnesota for decades to come."