Mayo Clinic 10-Year Investment Total in Rochester Tops $1 Billion

Rochester, MN (KROC-AM News) - A report approved today by the Destination Medical Center Corporation Executive Committee indicates Mayo Clinic's total investment in the DMC district since the start of the initiative in 2013 now exceeds $1 billion.

The documentation shows Mayo was responsible for more than $133 million of the $146 million in private investment in the Rochester DMC district last year. It also shows the cumulative total for private investment since the beginning of the Destination Medical Center effort now exceeds $1.6 billion.

The $133.6 million total for Mayo Clinic in 2023 is its third largest annual investment. The list of major Mayo Clinic projects last year includes the expansion of the Proton Beam Therapy Center, the Ana Maria and Stephen Kellen research building and the overhaul of the Sieben's Building.

READ MORE: Mayo Clinic Unveils $5 Billion Expansion Plan

Non-Mayo Clinic private investments last year totaled about $12.5 million.

“We are still witnessing positive growth in our community,” stated DMC EDA executive director Patrick Seeb. “The renovation of the former Doubletree Hotel into University of Minnesota Rochester student housing is a great example of an innovative idea for reuse of an existing building. We are excited for what the future holds.”

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The documentation is submitted to the State of Minnesota each year and is used to calculate the state's annual contribution to the Destination Medical Center program. According to the report, it will result in the release of $30 million in state public infrastructure funding later this year.

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