DMC Metrics
Results
Results
- Intended to bring to Rochester, Olmsted County and Minnesota private investment in excess of $5.6 billion:
- Seeks to create at least 35,000 new jobs in Minnesota and bring tax revenue in excess of $7 billion to the State
- Intended to give prospective employees,patients and visitors substantial reason to consider Rochester their ‘destination’.
Strategy
1. Create a comprehensive strategic plan with a compelling vision that harnesses the energy and creativity of the entire community.
2: Leverage the public investment to attract more than $5 billion in private investment to Rochester and the region.
3. Create approximately 35,000 – 45,000 new jobs, with workforce development strategies that support that growth.
4. Generate approximately $7.5 - $8.0 billion in new net tax revenue over 35 year.
5. Achieve the highest quality patient, companion, visitor, employee, and resident experience, now and in the future.
Indicators
Direct Indicators:
Economic-Fiscal Projections/Analysis
- Increases in Jobs
- Increases in Visitation
- Increase in Income, Property, Sales, Hotel-Motel and Other Taxes
- Estimated Indirect Benefits (e.g. jobs, tax base, etc
Other Economic Indicators:
- Increases in Median Income (Above Inflationary Rates)
- Increases in Work Force Population Living in City/County
- Increases of the Gross Regional Product (GRP)
- Increases in Targeted Business/Industry Sector
Real Estate Indicators:
- Number of Building Permits
- Property Tax Collection
- Hotel Occupancy/ADR
- Commercial Rental/Sales Data (e.g. Occupancies, Rental Rates, etc.)
- Retail Rental/Sales Data (e.g. Occupancies, Rental Rates, etc.)
- Residential Home Sales Data §Residential Rental Data (e.g. Occupancies, Rental Rates, etc.
Other Indicators:
- Number/Attendance at Conventions, Exhibitions and Other Events at Mayo Civic Center
- Visitation to Downtown
- Transit Ridership