Destination Medical Center (DMC) Draft Development Plan Presented to DMCC Board
ROCHESTER, Minn. (December 17, 2014) – The Destination Medical Center (DMC) initiative reached a major milestone today with the submittal of the draft Development Plan to the Destination Medical Center Corporation (DMCC) Board. The draft Plan outlines private and public investments and strategies to help guide the planning, financing, marketing, and construction of DMC initiative.
The DMC Initiative will help position Minnesota as a global destination medical center over the ensuing decades. It represents the largest economic development initiative in Minnesota and is one of the largest in the country, creating thousands of new jobs and generating billions of dollars in new tax revenue over the next 20 years.
“This is an exciting moment for the DMC initiative,” said DMCC Board Chair Tina Smith, “After nearly a year of planning, listening to significant input from the community, and representatives from the city of Rochester, Olmsted County and State of Minnesota, all of these ideas are coming together in one comprehensive plan that will guide the future of this exciting project.”
Throughout this past summer and fall, the DMCC scheduled several opportunities to solicit public input to the planners’ concepts. Through these public forums, the community provided ideas and suggestions that helped shape the draft of the Development Plan. “This is a critical juncture of the project, providing specifics related to phasing, financing and the magnitude of other project elements. We look forward to the next phase of public comment and final approval as we continue to work to make Minnesota the world’s premiere global destination for health and wellness,” Smith said.
With more than $3.5 billion in projected private investment by Mayo Clinic and $2.1 billion in additional investment from other private entities, DMC will provide the public financing for the public infrastructure needed to support this vision and massive level of private investment.
The draft DMC Development Plan was submitted to the DMCC Board at its meeting in Rochester on Wednesday, December 17. It is anticipated that the DMCC Board will formally submit the draft Plan on January 29 to the City of Rochester for a 60-day period of public comment. The City of Rochester and the Destination Medical Center Corporation (DMCC) Board will approve the final DMC Development Plan in March or April of 2015. With the final plan in place, it will help guide and prioritize both public and private investments in downtown Rochester to ensure the DMC vision is fully realized.
The draft plan has a 20-year horizon to the development and the build out of the various elements and will be implemented in phases over many years.
To view the entire Destination Medical Center draft Development Plan online, please visit www.dmc.mn.
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