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Destination Medical Center (DMC) Investment Metrics Slow Down Trend

 
Public Pinned Report on Destination Medical Center (DMC) led by DMC EDA
Last modified: February 12, 2024

Contents

Highlights

 

Feb 1, 2024 DMCC Board Meeting

Private investment metrics Slide

Video Clip

PB Reporting

Contents

From DMCC Feb 1, 2024 Board Meeting Presentation

 

Private Investment Metrics Slides

 

 

 

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Private Investment Video Clip Loop

 

Video Clip Loop Note: The above is a 60 sec or so YouTube video clip loop of the topic. To view more, hover on the clip and click Watch full video.

 

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Abstract from PB  Reporting 2024-02-12

 

BY RANDY PETERSEN Post Bulletin

 

 " 

ROCHESTER — A preliminary report shows private investment in Destination Medical Center has continued to drop ahead of Mayo Clinic’s plans for a $5 billion expansion.

“We have noticed a slowdown in non-Mayo private investment, so we started monitoring that a few years ago,” said Michael Flynn, the DMC Economic Development Agency’s senior director of economic development.

While the annual report on private investment isn’t due to the Minnesota Department of Employment and Economic Development until April 1, Flynn recently told the state DMC Corp. board that the 2023 reported private investment outside of Mayo Clinic projects appears to be “just under $13 million.”

“We haven’t published that yet, but that’s what we think it’s going to end up,” he said.

It’s down from nearly $26.5 million reported in 2022, and a high of approximately $135 million in 2018.

While declining since 2019, the cumulative investment thus far by Mayo Clinic and other developers since 2013 remains on the low end of a range projected at the start of the initiative, with a combined $1.46 billion.

“The pandemic was also in that timeline, which was not anticipated at the beginning of the modeling for DMC,”

Rochester Mayor Kim Norton pointed out during the recent discussion.
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Impact Levels

  Impact Lvl 1: Biotec ; Business Process ; Economic Development ; Housing ; Metrics ; Sustainability

 

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Related Reports

 

Other Destination Medical Center (DMC) Pinned Reports

May 24, 2024 : 1H 2024 Destination Medical Center
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

Proceedings

May 2024 DMCC Board Meeting and City, County, DMC Joint Meeting

Feb 2024 DMCC Board Meeting


December 13, 2023 : 2H 2023 Destination Medical Center (DMC) Meeting Informaiton
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November DMCC Meeting Info 

September DMCC Meeting Info

May DMCC Meeting Info 


October 01, 2023 : Destination Medical Center 3Q 2023 Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

1. September 2023 DMCC Board Meeting:

2. Meeting Package,

3. Meeting Slides,

4. Video Recording 

5. Breakouts


March 23, 2023 : 1Q 2023 Destination Medical Center (DMC) Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

March 2023 Executive Committee Meeting;

Feb 9 2023 DMCC Board Meeting and City, County, DMC Collaborative Session


November 12, 2022 : Destination Medical Center (DMC)
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November 2022 DMCC Board Meeting: notable topics: Experience Metrics,  Soldier Fields, Equitable development, Discovery square, Heart of the City


November 11, 2022 : Destination Medical Center (DMC)
Impact Lvl1: Arts & Culture, Diversity and Inclusion, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November 2022 DMCC Meeting: Featuring Equity Development 


October 01, 2022 : Destination Medical Center (DMC)
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

September 2022 DMCC Board Meeting


September 13, 2022 : DMC Information
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

July 2022 Destination Medical Center Information Sheet.  


June 25, 2022 : May 18, 2022 DMCC Board Meeting
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

May 2022 Proceedings and notable breakouts


February 05, 2022 : Destination Medical Center (DMC) 2022 Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

February 3, 2022

DMCC Board Meeting

City, County, DMC Board Collaborative Session: Featuring Thomas Fisher

 


November 14, 2021 : Destination Medical Center (DMC) 2H 2021 Meetings
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November 4,  2021

Project Discussion (City of Rochester, EDA: Experience metrics, Business Development, 

Project Updates: A. Heart of the City 27 B. Riverfront Reimagined 29 C. Rapid Transit Corridor Development 31 D. District Energy 33 E. McKnight Foundation Grants

 

September 20211 DMCC Board Meetings information.


May 20, 2021 : Destination Medical Center (DMC) 2021 Meeting Info
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

May 20 and March 23, 2021 DMCC Board Meetings


February 03, 2021 : Destination Medical Center (DMC) Joint Session
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

Feb. 3, 2021 DMC Slide Decks and Recording


November 21, 2020 : November 2020 DMCC Board Meeting
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

(1) November 2020 Board Meeting (2) 5 Year DMC Plan Updates and Covid Effects


November 19, 2020 : Destination Medical Center (DMC) Plan 5 Year Update
Impact Lvl1: Arts & Culture, Economic Development, Pandemic, Transportation, Vision/Identity
Impact Lvl2:

November Newsletter, 5 Year Plan Update draft, webinars on land investments, DMC status and Covid impacts. Reminder to comment on 5 year plan update 


September 26, 2019 : Destination Medical Center (DMC) September 2019
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

September 2019 DMCC Meeting memo about metrics dashboard. 


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Pinned DMC EDA organization and project reports

. Project Report of BioRochester and MedHub 3.0 : May 27, 2024 : DMC's BioRoch effort to Collaborate with MN MedTech 3.0
Impact Lvl1: CMRC, Diversity and Inclusion, Economic Development, Funding, OpenBeam, STEM, Technology Enablement, Workforce Development
Impact Lvl2:

DMCC Board Updates:

1. May 2024 Status Memo to DMCC Board  

2. Feb 2024 DMCC Board Meeting: Video Clip of Discussion at Feb 1 2024 DMCC Board - DMC part of MedTech 3.0; Memo to DMCC

3. Nov. 2023 Video Clip of Discussion at DMCC Board Meeting about MN MedTech 3.0 Description and Webinar

References: US DEA Tech Hub Awardees 


Project Report of Destination Medical Center (DMC) : May 24, 2024 : 1H 2024 Destination Medical Center
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

Proceedings

May 2024 DMCC Board Meeting and City, County, DMC Joint Meeting

Feb 2024 DMCC Board Meeting


Project Report of Destination Medical Center (DMC) : December 13, 2023 : 2H 2023 Destination Medical Center (DMC) Meeting Informaiton
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November DMCC Meeting Info 

September DMCC Meeting Info

May DMCC Meeting Info 


Project Report of Two Discovery Square : November 30, 2023 : Discovery Square Shared Lab Infastructure
Impact Lvl1: Economic Development, STEM
Impact Lvl2:

A shared lab space for a community of like-minded entrepreneurs associated with one or more academic research partners


Project Report of BioRochester and MedHub 3.0 : October 23, 2023 : CMRC Support of Formation of a BioRochester Consortium
Impact Lvl1: CMRC, Economic Development, Funding, OpenBeam, STEM, Technology Enablement, Workforce Development
Impact Lvl2:

1. October 23, 2023 EDA Tech Hubs Awardees Announcement

2. Video Clip from CMRC August Mtg; CMRC Letters of Support; References: BioRochester Review meeting video; Summary of Draft 3 BioRochester Plan, and Final Grant Submission


Project Report of Destination Medical Center (DMC) : October 01, 2023 : Destination Medical Center 3Q 2023 Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

1. September 2023 DMCC Board Meeting:

2. Meeting Package,

3. Meeting Slides,

4. Video Recording 

5. Breakouts


Project Report of BioRochester and MedHub 3.0 : August 10, 2023 : Rochester MSA Applying for Tech Hubs Grant Review Meeting
Impact Lvl1: CMRC, Diversity and Inclusion, Economic Development, Funding, OpenBeam, STEM, Technology Enablement, Workforce Development
Impact Lvl2:

Video Recording of Draft Review Session


Project Report of Destination Medical Center (DMC) : March 23, 2023 : 1Q 2023 Destination Medical Center (DMC) Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

March 2023 Executive Committee Meeting;

Feb 9 2023 DMCC Board Meeting and City, County, DMC Collaborative Session


Project Report of America's City for Health : February 25, 2023 : Use of "America City for Health" as moniker to attract DMC investment
Impact Lvl1: Business Process, Commitment, Diversity and Inclusion, Governance/Public Policy, Mental Health, Workforce Development
Impact Lvl2:

Feb 2023 Business Development status; Nov. 2021 Presentation to DMCC Board in November 2021 Board Meeting. Focus on attracting more companies coming in.  America City for Health as lead generation asset. 


Project Report of Adminstration of Rochester's 3.12M award from Minnesota Main Street Economic Revitalization Program : December 21, 2022 : Administration of Rochester's 3.12M award from Minnesota Main Street Economic Revitalization Program
Impact Lvl1: Diversity and Inclusion, Economic Development, Entrepreneurship, Funding
Impact Lvl2:

(1) Second Phase Grant; (2) DMC Announces First Recipients of Main Street Grant Funding 30 Businesses ($1.6M) ; (3) Launching of Main Street Grant 


Project Report of Destination Medical Center (DMC) : November 12, 2022 : Destination Medical Center (DMC)
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November 2022 DMCC Board Meeting: notable topics: Experience Metrics,  Soldier Fields, Equitable development, Discovery square, Heart of the City


Project Report of Destination Medical Center (DMC) : November 11, 2022 : Destination Medical Center (DMC)
Impact Lvl1: Arts & Culture, Diversity and Inclusion, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November 2022 DMCC Meeting: Featuring Equity Development 


Project Report of DMC Discovery Square : November 11, 2022 : DMC Discovery Square Design Process
Impact Lvl1: Biotec, Diversity and Inclusion, Economic Development, Entrepreneurship, Education
Impact Lvl2:

Discovery Square Status to DMCC November Board Meeting: 6 Elements of Success


Project Report of Destination Medical Center (DMC) : October 01, 2022 : Destination Medical Center (DMC)
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

September 2022 DMCC Board Meeting


Project Report of Destination Medical Center (DMC) : September 13, 2022 : DMC Information
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

July 2022 Destination Medical Center Information Sheet.  


Project Report of Destination Medical Center (DMC) : June 25, 2022 : May 18, 2022 DMCC Board Meeting
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

May 2022 Proceedings and notable breakouts


Project Report of Discovery Walk Co-designing : May 09, 2022 : Community Co-Design Toolkit
Impact Lvl1: Best Practice, Civic Engagement, Diversity and Inclusion, OpenBeam, Vision/Identity
Impact Lvl2:

As a member of the Community for Health Steering Committee and piloting the use of co-designing in the Discovery Walk project, OpenBeam participated in developing the Community Co-Design Toolkit as a guide for other community projects to consider and adopt a co-design process to maximize inclusive engagement. 


Project Report of Destination Medical Center (DMC) : February 05, 2022 : Destination Medical Center (DMC) 2022 Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

February 3, 2022

DMCC Board Meeting

City, County, DMC Board Collaborative Session: Featuring Thomas Fisher

 


Project Report of America's City for Health : January 22, 2022 : ACH 2022 Info Log
Impact Lvl1: Aging, Best Practice, Business Process, Civic Engagement, Commitment, Diversity and Inclusion, Governance/Public Policy, Health, Housing, International, Intelligence, Mental Health, OpenBeam, Sustainability, Technology Enablement, Transportation, Workforce Development
Impact Lvl2:

January 2022 Meeting Review Workgroup purpose (mission, vision, and values) and OpenBeam comments. 


Project Report of Destination Medical Center (DMC) : November 14, 2021 : Destination Medical Center (DMC) 2H 2021 Meetings
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

November 4,  2021

Project Discussion (City of Rochester, EDA: Experience metrics, Business Development, 

Project Updates: A. Heart of the City 27 B. Riverfront Reimagined 29 C. Rapid Transit Corridor Development 31 D. District Energy 33 E. McKnight Foundation Grants

 

September 20211 DMCC Board Meetings information.


Project Report of Discovery Walk Co-designing : May 27, 2021 : Discovery Walk
Impact Lvl1: Arts & Culture, Best Practice, Diversity and Inclusion, Interaction, Recreation & Open Space, Welcoming
Impact Lvl2:

March 2021 DMCC approval for Bid


Project Report of Destination Medical Center (DMC) : May 20, 2021 : Destination Medical Center (DMC) 2021 Meeting Info
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

May 20 and March 23, 2021 DMCC Board Meetings


Project Report of Destination Medical Center (DMC) : February 03, 2021 : Destination Medical Center (DMC) Joint Session
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

Feb. 3, 2021 DMC Slide Decks and Recording


Project Report of Discovery Walk Co-designing : December 10, 2020 : Co-designing of Discovery Walk Concept
Impact Lvl1: Diversity and Inclusion, Health, Recreation & Open Space
Impact Lvl2:

Summary of Co-design of Discovery Walk and Codify the co-design process. 


Project Report of Destination Medical Center (DMC) : November 21, 2020 : November 2020 DMCC Board Meeting
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

(1) November 2020 Board Meeting (2) 5 Year DMC Plan Updates and Covid Effects


Project Report of Destination Medical Center (DMC) : November 19, 2020 : Destination Medical Center (DMC) Plan 5 Year Update
Impact Lvl1: Arts & Culture, Economic Development, Pandemic, Transportation, Vision/Identity
Impact Lvl2:

November Newsletter, 5 Year Plan Update draft, webinars on land investments, DMC status and Covid impacts. Reminder to comment on 5 year plan update 


Project Report of America's City for Health : December 20, 2019 : 2019 Community for Health Workgroup Log
Impact Lvl1: Best Practice, Business Process, Civic Engagement, Health
Impact Lvl2:

DMC EDA initiated Community For Health group effort notes 2018 and 2019 logging of notes and activities. 


Project Report of Destination Medical Center (DMC) : September 26, 2019 : Destination Medical Center (DMC) September 2019
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

September 2019 DMCC Meeting memo about metrics dashboard. 


Project Report of DMC Dashboard : August 27, 2016 : DMC Dashboard With Data
Impact Lvl1: Best Practice, Economic Development, Metrics, TBD
Impact Lvl2:

In August DMCC Board meeting, the following DMC Dashboard material was presented.


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Site Information
Project Phase Definitions
The following defines the various project phases:
  1. Available - a product, program or service is in production
  2. Develop - program or application is being developed
  3. Plan - idea is solid, stakeholders are identified, and there is strong commitment to go forward from all parties.
  4. Concept Phase - idea scoped out with enough details to give an early sizing and/or to build a proof of concept
    demonstration
  5. Pre-concept Phase - an early idea or a requirement.
About Beam

Community Beam (dmcbeam.org) is a registry of private and public resources (organizations, projects, initiatives, programs) that underpin economic and social developments of greater Rochester:

  • For the commercial sector, we tend to register startup activities (new companies and new commercial projects) that bring diversification and high-impact opportunities to the area.
  • For the non-profit sector, we wish to shine light on all the organizations and services that otherwise labor under relative obscurity.
  • Our hope is that dmcbeam.org will encourage cross-sector collaborations and creative solutions.

While there are a number of registries in the community, dmcbeam.org's  distinct value is to pilot a database with a data structure and categorizations that answer the questions such as: What organizations or projects/programs in our community that have purported relevance with some of the over-arching focuses put forward by initiatives such as DMC, J2G and Health Improvements?

This database could be used as one of the ways to explore the capacities of the community. If you are someone on an exploratory journey to learn about the greater Rochester community. dmcbeam.org could be an interesting first step.

Links to Beam sub-sites 
Sample of Beam sub-sites: