Mayo Clinic Announces Appointments to DMC Economic Development Agency Board
EDA will lead the process to establish DMC development plan
ROCHESTER, Minn. — Mayo Clinic announced today the appointment of six members to the Destination Medical Center (DMC) Economic Development Agency (EDA) Board who will oversee the private economic development corporation authorized by state statute to provide a wide range of planning, development and marketing services to the Destination Medical Center Corporation (DMCC).
The six members are:
- Jerry Bell, former president, Minnesota Twins
- Lisa Clarke, Executive Director, DMC Economic Development Agency and Community Engagement Division Chair, Mayo Clinic Department of Public Affairs
- Patricia Simmons, M.D., chair of the EDA Board, DMC physician lead, Mayo Clinic
- Gary Smith, Olmsted County resident, president, Rochester Area Economic Development Inc. (RAEDI)
- Wendy Wood, Rochester resident, senior investment manager at University of Minnesota Foundation Investment Advisors
- Srilatta Zaheer, Ph.D., dean, University of Minnesota Carlson School of Management
"These leaders who have agreed to serve on the DMC EDA Board bring a wealth of expertise and knowledge that will ensure the work of the EDA is of the highest level and fulfills the mission of the DMC initiative in a way that benefits the people of Minnesota and the Rochester community," says John Noseworthy, M.D., Mayo Clinic president and CEO. "Today's announcement represents another important step forward in making the DMC vision a reality."
The EDA is a private, nonprofit economic development corporation authorized by the DMC state statute that will provide experience and expertise to the DMCC for the purpose of preparing the detailed development plan and marketing the Destination Medical Center. Its broad range of development services will include strategic planning, master planning, development, finance, oversight, as well as community outreach, communications and marketing services to the DMCC.
As specified in the DMC statute passed by the 2013 Legislature, Mayo Clinic was tasked with the responsibility of appointing the EDA Board to ensure alignment of the DMC plan to help support the expansion of Mayo Clinic in Minnesota. Appointees were selected for their expertise in the following areas:
- Economic Development
- Business Development (especially in bioscience, research, technology)
- Real Estate Development
- Urban Planning
- Communications / Public Policy
"The EDA Board provides an opportunity to enlist the expertise of private sector leaders to help plan and guide the successful implementation of the DMC initiative," says Dr. Simmons, who is also medical director of government affairs, Mayo Clinic and chair of the EDA Board. "This group of experts and leaders will oversee the work of the EDA and serve the DMCC Board in a way that will benefit our state and our community for years to come."
Specific roles and responsibilities of the Economic Development Agency Board of Directors include:
- Guide and direct the comprehensive development plan for consideration and approval by the Destination Medical Center Corporation Board
- Guide the EDA team in the formulation of specific initiatives to engage the broad base of community interests that comprise the DMC and manage a robust community engagement process
- Serve as liaison with key stakeholders (i.e., state legislators, business leaders, community interests, etc.)
- Market DMC and the private sector investment opportunities in Rochester that will support the DMC vision
- Manage a comprehensive community and public relations program that addresses the interests of the DMCC, the medical business entity (Mayo) and other community interests
- Serve as the economic development advisory entity to facilitate the development of economic and fiscal impact analysis that supports the achievements of the Destination Medical Center
- Provide guidance to the EDA team in fulfilling its responsibilities under its contract with the DMCC
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