The Mayo Clinic is proposing a 20-year, $5 billion investment plan to make its flagship campus in Rochester, Minn., a "Destination Medical Center." The clinic would invest $3.5 billion in capital improvements, and expects an estimated $2.1 billion in additional private investment. The plan originally asked state taxpayers to contribute more than $500 million to pay for public improvements like parking, transit, utilities, skyways and public meeting spaces. But a revised plan lowers the overall state contribution by hundreds of millions of dollars. It also asks Rochester to more than double its share of the project through local taxes and allows Olmsted County to authorize new local taxes for a transit line. The proposal is currently under consideration in the Legislature. With about 34,000 workers, the Mayo Clinic already is Minnesota's largest private employer, and it claims the expansion would create some 45,000 new jobs statewide.
A big reason rates are so much higher in southeast Minnesota is because of the Rochester-based Mayo Clinic.
Minnesota got a brief shout-out in the State of the Union speech last night when President Obama pointed to the founder of Punch Pizza for the company's minimum wage practices. But Dr. John Noseworthy, President and CEO of the Mayo Clinic, was also at the address.
Mayo Clinic officials announced a $72.1 million expansion to parts of Saint Marys Hospital in Rochester.
The layoffs are all in the health system's transcription services and will affect employees in Albert Lea, Austin, Cannon Falls, Faribault, Lake City, Owatonna and Red Wing, Mayo said.
Concerned that they do not have enough say in staffing levels, about 300 union-represented nurses gathered for an informational picket today outside Mayo Clinic Health System in Mankato.
Two of the most logical places where the Mayo Clinic might expand would be Florida and Arizona, where existing campuses are growing steadily.
Two bills that would help the Mayo Clinic develop its planned $5 billion expansions are making their way through the Minnesota Legislature this session.
State lawmakers say if the Mayo Clinic is going to expand in Rochester, more of the money will need to come from city and county residents. Lawmakers have asked Rochester to more than double its share of local taxes committed to the project, bringing the city's contribution to $128 million. It's unclear how much Rochester residents are willing to pay to help Mayo expand.
State taxpayer money would go toward an expansion of the Mayo Clinic only after a hefty amount of private money and more local taxes are committed to the project, under a reworked plan unveiled in a state Senate committee on Monday.
Mayo Clinic's proposed expansion plan in Rochester drew more than 200 people to a town hall meeting Wednesday evening.
If the Mayo Clinic is to expand in Rochester, city and county residents must contribute a larger share of the $500 million needed for public transit and other improvements, state lawmakers said this week.
Minnesota House Democrats want to trim the state's contribution to a Mayo Clinic expansion proposal by about $200 million from an original request of about $500 million from the Rochester healthcare giant.
A top Senate Democrat says the altered funding plan to help the Mayo Clinic expand needs work before moving forward.
Mayo Clinic is dropping a complicated tax plan that relies on more than $500 million in state funds to make improvements in Rochester in favor of a plan that would rely on a more direct contribution from the state.
A complicated tax capture plan sought by the Mayo Clinic to assist in a 20-year growth plan is being dropped in favor of state aid payments directly tied to the amount of private spending on the development.
A summary of the Mayo Clinic's expansion plan and how it would be financed.
The Mayo Clinic calls its initiative the "Destination Medical Center," and has launched a separate website to garner support for the project.
Mayo Clinic is a nonprofit health care system, based in Rochester, Minn., with an international reputation. It provides health care services to more than one million patients each year at its clinics in Rochester, Phoenix and Jacksonville, Fla. It also conducts research and trains health professionals. Mayo Clinic reports total assets of more than $10 billion.
City leaders have spent years planning how to grow this medical and tech-driven community in the middle of southern Minnesota farm country.