First Phase (2020) Summary of Results as reported per DMC Second Phase Forward report.
New Jobs
Rochester added approximately 7,700 positions over the past five years, with growth concentrated in healthcare and additional jobs added in retail, hospitality, research and office segments. More than 80 percent of the new jobs paid more than Rochester’s Area Median Income of approximately $75,000. More local women and minority owned businesses are needed to fulfill the DMC vision and the project is on track to meet its 2035 jobs goal.
New Investment
Private investment during Phase 1 exceeded goal and totaled $963 million, which leveraged $98 million of public investment, including TIF funds. In all sectors except hotels, actual buildouts exceeded planned square footage. Projections indicate strong Phase 2 public funding while the impact of COVID-19 will influence how private investment occurs in 2020-2024.
New Tax Revenue
Phase 1 programs and investments delivered a tax revenue impact equal to roughly 12 percent of the goal, ahead of projections. New job creation has been the main driver of increased tax revenue. The impact of the COVID-19 pandemic on future tax revenue projections is being analyzed. DMC is working with the city and other collaborators to update the relevant economic models and projections.
Plans and Prototypes
To create the DMC Development Plan, DMC EDA recruited a group of the nation’s leading development and planning consultants to work in collaboration with the City of Rochester, Olmsted County, Mayo Clinic and community stakeholders. More detailed planning exercises with numerous organizations have also occurred, focused particularly on public realm planning, mobility options, housing needs and downtown energy district planning.
Transforming Experiences
The DMC team forged new partnerships with a range of community stakeholders to advance DMC’s core goal of delivering the highest quality patient, visitor and community member experience now and in the future. The “When in Rochester” app and a new RDA Ambassadors program grew out of ongoing efforts to ease stress for visiting patients and their companions and improve their stay experience from arrival through shift from clinical care to free time and end-of-day activities.
September 26, 2019 Updates
