HomeMy WebLinkAbout3/14/2024 DMCC Executive Committee Meeting - Presentation (DEED Report)2023 Private
Investment Report
March 2024
To Minnesota Department of
Employment and Economic
Development (DEED)
1
TODAY
Overview 1
Mayo Clinic Investments 2
Non-Mayo Private Investments3
Authorization of Report to DEED4
2
DMC ANNUAL STATE AID FORMULA
FUNDING FORMULA:
Certified Private Investment x 2.75% = State funding
for public infrastructure in the DMC district in Rochester, MN
Submitted to and Certified by DEED
State funding provides many community benefits:
Mayo Clinic
Capital
Investment
(Rochester, MN)
Non-Mayo
Private
Investment
(DMC District)
Total
Private
Investment
3
2023 Total Qualifying
Investments
✓Mayo Clinic Investment
$133.6M
✓Non-Mayo Clinic Private Investment
$12.5M
4
5
CUMULATIVE INVESTMENT 6
Mayo Clinic
2023 Investments
Highlights
✓$133.6M invested in Rochester in 2023
✓$1.07 B invested since the approval of
DMC legislation
✓Variety of investments across Mayo Clinic’s
campus
7
MAYO CLINIC Practice Investments
Proton Beam Expansion
Practice
8
MAYO CLINIC Research Investments
Kellen Building
Research
9
MAYO CLINIC Education Investments
TBD
Education
MB Nurse
Simulation ?
10
MAYO CLINIC Future Investments
Bold. Forward. Unbound.
In Rochester
11
MAYO CLINIC
Investments
Community Impacts
✓New visitors with unique needs
✓Highly technical workforce
✓Talent recruitment
12
Non-Mayo Clinic
2023 Investments
Highlights
✓$12.5M invested in DMC District in 2023
✓$539M invested since the approval of
DMC Development Plan in 2015
13
NON-MAYO PRIVATE Investments
University of MN Rochester
Housing
✓Restaurants
Marrow, Our Paladar, Red Cow,
Latitude 44, Bubble Tea
✓Retail
New Spin Bicycle Shop
✓Innovation
Build-out of 1 + 2 Discovery Square,
Bio-Business Building
✓Hotel Improvements
✓Student Housing
Activation Animation Reuse
14
✓Cumulative overall investment of nearly 1.6 billion
✓Mayo Clinic has invested $1.01B investment since
approval of DMC legislation
✓Continue to meet formula requirements to receive
maximum annual state aid
2023 Report to
DEED Summary
Strategic DMC investments leads to continued
local investment
15
Discussion +
Authorization
of Report to
DEED
16