ROCHESTER, Minn. (FOX47) – Thursday the public learned just how much money private investors put into Rochester projects in 2018. The numbers came from a report released by the Destination Medical Center Corporation Board.
Approximately 262-million dollars were privately invested in DMC projects in 2018, a new annual high.
Private developers and investors outside Mayo Clinic contributed over $135 million over three times more than in 2017.
More than 30 Rochester projects received funding including the Hilton Hotel construction on East Center Street, One Discovery Square and renovations around Peace Plaza.
Mayo Clinic properties invested about $40 million more in 2018 than the previous year, focusing on modernization and growth of the Saint Marys Campus.
“We spend a lot of capital to upgrade our facilities to make sure we remain a destination medical center. A lot of that is behind the walls that you don’t see.” Said Douglas Holton, an administrator at Mayo Clinic.
“We expect continued strong patient, research and education growth in Mayo Clinic Rochester. This will continue to drive our capital investment.”
Since 2013, more than $690 million have been privately invested into DMC.