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Destination Medical Center (DMC) Investment Metrics Slow Down Trend

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


 

Other Latest 10 Destination Medical Center (DMC) Pinned Reports


October 16, 2024 : DMC 2025 Budgets
Impact Lvl1: Funding, Governance/Public Policy
Impact Lvl2:

2025 Budget and Workplan September DMCC Board Meeting

City Council Oct 2024 on DMC 2025 Budget

 



October 16, 2024 : 2024 Destination Medical Center Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

Proceedings

September 2024 DMCC Board Meeting with 2025 Workplan Breakout

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.  



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Latest 10 Pinned DMC EDA organization and project reports


. Project Report of Destination Medical Center (DMC) : October 16, 2024 : DMC 2025 Budgets
Impact Lvl1: Funding, Governance/Public Policy
Impact Lvl2:

2025 Budget and Workplan September DMCC Board Meeting

City Council Oct 2024 on DMC 2025 Budget

 



Project Report of Destination Medical Center (DMC) : October 16, 2024 : 2024 Destination Medical Center Reports
Impact Lvl1: Arts & Culture, Economic Development, Housing, Sustainability, Transportation, Workforce Development, Vision/Identity
Impact Lvl2:

Proceedings

September 2024 DMCC Board Meeting with 2025 Workplan Breakout

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

Feb 2024 DMCC Board Meeting



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) : 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



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