Mayo Clinic reports largest annual investment into downtown Rochester

Mayo Clinic
Mayo Clinic(KTTC)
Published: Mar. 23, 2023 at 6:34 PM CDT
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ROCHESTER, Minn. (KTTC) – It’s a milestone for Mayo Clinic’s investment in downtown Rochester.

Since the inception of Destination Medical Center in 2013, Mayo is reporting the largest annual investment it’s made to date. In 2022, more than $172 million in investments were made last year.

It’s enough to trigger millions of dollars from the state in DMC infrastructure funding to the tune of $30 million for the next decade. Private investors contributed about $26 million last year, down from the year prior.

Still, Mayo Clinic and Rochester city leaders say it’s good news for our community, especially coming in the wake of a pandemic.

“Rochester is so fortunate compared to other cities across the country. We did see continued growth development above average. Considering what the rest of the country went through, and I think it’ll be a trend upward,” Rochester mayor Kim Norton said.

“I appreciate the significance of the non-mayo private investment. It does demonstrate the value of a critical partnership like Mayo Clinic,” DMC Corporation chair Pamela Wheelock said.

Mayo Clinic says it’s reported $934 million in Rochester investment since 2013. It goes beyond new construction, like modernizing and changing existing facilities to respond to changing medical needs.