Mayo Clinic Announces $5B Economic Development Plan

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Mayo Clinic in Rochester, Minn., has announced a $5 billion economic development initiative called Destination Medical Center to secure Minnesota's status as a global medical destination center in the future.

The initiative is the culmination of a three-year study by Mayo Clinic to chart its future business strategy. The Destination Medical Center initiative is estimated to include approximately $3.5 billion in new capital investments on its Rochester campus, financed by Mayo Clinic. This will be combined with an estimated $2.1 billion in leveraged private investment.

In addition to these investments, it is estimated that a total of $585 million in public infrastructure costs will be required to support the expansion over the 20-year investment timeline. A Destination Medical Center working group has been developing a public finance plan for the city of Rochester.

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