ST. PAUL, MN – Governor Mark Dayton announced today his four appointments to an eight-member board that will oversee the state’s largest-ever economic development project. All four appointees must be confirmed by the Minnesota Senate. The Destination Medical Center (DMC) board will be responsible for guiding the use of the state’s $455 million investment in the Greater Rochester area – an investment that will leverage an estimated $5.6 billion in local and private investment over the next 20 years, create tens of thousands of new jobs, and secure the state’s competitive position as an international hub for health care and medical advancement.
“This monumental public-private partnership will create tens of thousands of new jobs in our state, and accomplish great things for the people of Minnesota,” said Governor Dayton. “Knowing the great importance and lasting significance of this initiative, I have selected well-respected, effective leaders with proven records of success; people who can see the big picture, and then actualize it. The men and women I have asked to take on this important work are as excited as I am by this tremendous opportunity, and are strongly committed to its success.”
The Board will oversee the operation of the Destination Medical Center Corporation (DMCC). It will also be responsible for approving the DMC development plan.
Governor Dayton’s appointments to the Destination Medical Center Board are:
James Campbell, retired Group Executive Vice President of Wells Fargo & Company, has been appointed to serve a six-year term on the DMC board. Prior to his retirement, Mr. Campbell was also Chairman and Chief Executive Officer of Wells Fargo Minnesota. Mr. Campbell began his 38-year financial services career with Northwestern National Bank of Minneapolis as a commercial lending trainee. He later became President and Chief Executive Officer of Norwest Bank Minnesota. Mr. Campbell currently serves on the Board of Directors of the Marvin Companies, Lifetouch, Inc., and Forsythe Appraisals. He also chairs the Board of the United Health Foundation. He was previously the Chairman of the Board of the Itasca Project, the University of Minnesota Foundation, the Greater Twin Cities United Way, and Abbott-Northwestern Hospital.
Tina Flint Smith, Chief of Staff to Governor Mark Dayton, has been appointed to serve a six-year term on the DMC board. During the 2013 Legislative Session, Ms. Smith was instrumental in bringing together the coalition of local leaders, private sector partners, and state legislators, which developed and passed legislation establishing the Destination Medical Center. Prior to serving as the Governor’s Chief of Staff, Ms. Smith previously served as Chief of Staff for Minneapolis Mayor R.T. Rybak. She earned her MBA from Dartmouth’s Tuck School of Management, worked at General Mills, and has invaluable experience with government, businesses and nonprofits.
Susan Rani, President of Rani Engineering, Inc., has been appointed to serve a four-year term on the DMC board. Ms. Rani is an entrepreneur, shareholder, and founder of Rani Engineering, Inc. – a Minneapolis-based firm with offices in California and North Dakota. She is a registered professional engineer with more than thirty years of experience in the planning, design, and construction of buildings, industrial facilities, highways, railroads, airports, waterways, and wastewater treatment plants. Ms. Rani has served on the boards of American Consulting Engineering Companies Minnesota, the St. Paul Area Chamber of Commerce, Mounds Park Academy, the Association of Women Contractors, and the National Association of Minority Contractors, Upper Midwest.
The Honorable R.T. Rybak, the Mayor of Minneapolis, has been appointed to serve a four-year term on the DMC board. As Mayor, Mr. Rybak has led a multi-pronged approach to adding jobs and growing the City’s economy through helping small businesses succeed, fostering innovation, increasing regional cooperation, and training displaced workers in fast-growing sectors. Under his leadership, Minneapolis has topped many national lists of the best cities in which to live, work, visit, and do business. Mayor Rybak understands how to create successful partnerships between the public and private sectors.
About Destination Medical Center
The 20-year Destination Medical Center (DMC) public-private partnership is aimed at securing Minnesota’s competitive position as an international hub for health care and medical advancement, and making the Rochester region an economic center for job growth and business development. The state’s $455 million investment in the project over the next two decades will leverage an estimated $5.6 billion in local and private investment, and create tens of thousands of new jobs.
Over the last 150 years, Mayo Clinic has earned an international reputation for excellence in health care and medical advancement, treating more than half a million patients in its Rochester facilities every year. Today, Mayo Clinic is Minnesota’s largest employer, providing good-paying jobs for more than 40,600 Minnesotans, including over 33,000 in Rochester, and generating a $9.6 billion annual economic impact to the State of Minnesota – roughly 4 percent of the state’s total GDP. And each year, Mayo Clinic contributes approximately $1.5 billion in tax revenue to the State of Minnesota and local governments.
With the new DMC initiative, Mayo Clinic is poised to expand dramatically, making targeted investments in the Rochester community that will secure the region’s position as one of the most elite medical destinations in the world. As a result of this initiative, Mayo Clinic will add another 25,000 to 30,000 Minnesota jobs over the next 20 years. Economic development generated by DMC will also result in the creation of thousands of more jobs in the region – including construction jobs.
State funding for DMC will be supplemented by an additional $3.5 billion from Mayo Clinic, $128 million from the City of Rochester and Olmsted County, and an estimated $2 billion from private investors. The initiative will also generate an estimated $3.2 billion in state tax revenue over the next 20 years. In total, the project will leverage an estimated 22 to 1 return on the state’s investment.
State funding for the DMC initiative will be used to fund projects for public infrastructure, including the acquisition of property, demolition or repair of buildings, land remediation, and site improvement. State funds will also be used for the construction of buildings, parks, roads, transit facilities, parking facilities, and other cultural and recreational amenities that will enhance the region’s quality of life and encourage additional growth by making Rochester an even more desirable place to live, work, and raise a family.
These infrastructure improvements are crucial to support and sustain economic growth in the region and Rochester’s downtown center. To date, infrastructure repair and construction have not kept pace with the rapidly growing Mayo Clinic – putting a strain on the city’s resources, and limiting the possibilities for future growth. Right now there is an eight-year waiting list for parking spots at Mayo Clinic; current projections show hospitality businesses in Rochester will need 1,100 more hotel rooms in the coming years just to serve the families, friends, and guests of Mayo Clinic patients.