The Mayo Clinic recently appointed six individuals to oversee the community planning, economic development, and marketing components of the so-called “Destination Medical Center” (DMC) project in Rochester.
Mayo clinic first announced plans for the 20-year, roughly $6 billion project in January. Plans call for Mayo to contribute more than $3 billion, while another $2 billion is expected to come through private investments. State and local governments are also allocating taxpayer funds for the project, which involves renovations at Mayo as well as a broader overhaul of downtown Rochester.
As part of the project, state statute authorized a private economic development corporation to oversee the project’s strategic planning, development, finance, oversight, community outreach, communications, and marketing, among other things.
The following six individuals, two of whom hail from Mayo Clinic, were selected for the Economic Development Agency Board:
• Jerry Bell, former president, Minnesota Twins
• Gary Smith, president, Rochester Area Economic Development, Inc.
• Srilata Zaheer, dean, University of Minnesota Carlson School of Management
• Wendy Wood, senior investment manager, University of Minnesota Foundation Investment Advisors
• Lisa Clarke, executive director of the DMC Economic Development Agency and community engagement division chair for Mayo’s Department of Public Affairs
• Patricia Simmons, chair of the Economic Development Agency Board and DMC physician lead with the Mayo Clinic
The newly appointed board “provides an opportunity to enlist the expertise of private sector leaders to help plan and guide the successful implementation of the DMC initiative,” Simmons said in a statement.
The new economic development board is distinct from the DMC’s primary board, which includes outgoing Minneapolis Mayor R.T. Rybak; James Campbell, former Wells Fargo Minnesota chairman and CEO; and Rochester's mayor; among others.