Heading north on Route 63, about the time you pass the water tower painted to look like an ear of corn, the Rochester skyline shoots up from the Minnesota horizon. The city is growing like a beanstalk -- a high-tech, health-care, hospitality beanstalk.
Of course, it’s home to the Mayo Clinic, the world-renowned research center and hospital, and the city has built on Mayo’s rock-solid foundation. The synergy among the city’s resources has been well cultivated and is paying dividends, says Gary Smith, president of Rochester Area Economic Development. “Let me tell you, we are in a place where the rubber meets the road.”
Take, for instance, the Minnesota Partnership for Biotechnology and Medical Genomics, formed in 2003 between Mayo and the University of Minnesota at Rochester to spawn new businesses. More than 20 technology-related firms have opened up in Rochester over the past ten years. The university is also planning an expansion to their downtown campus, going from about 450 students currently to 5,000 students within the next 20 years.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Recognizing the depth of resources in the area, the city opened the Minnesota BioBusiness Center in spring 2009 -- providing room to grow in the form of 150,000 feet of office space. The center, located a block from both the Mayo Clinic and the university, represents the city’s aspiration to build an even stronger bioscience and medical-research community. “If there’s a theme to what we’re doing here, it’s collaboration,” said Smith.
Rochester also welcomes about 2.7 million visitors every year -- pouring $520 million into the economy, supporting the city’s hospitality industry and filling up its thousands of hotel rooms. Many of the visitors are Mayo patients from across the country and around the world.
The result is a community of great hosts and hostesses. Rochester’s mayor, Ardell Brede, is proud of his community’s welcoming way. “The other day a woman came up to me and said, ‘You have a such a wonderful city, when I ask someone for directions, more often than not, they offer to walk me there themselves,’ ” he said. (That’s a phenomenon I experienced during my own visit -- more than once.) To entertain its guests and residents, the city offers 60 miles of bike trails, more than 100 parks, and a civic center that attracts regional and national conferences and entertainment. And almost everything is accessible by skyway and underground walkways connecting many of the hospital, hotel, and retail buildings -- a near-necessity during Minnesota winters. There are public art projects scattered throughout the city, and a huge art-glass sculpture by Dale Chihuly is installed in the Mayo Clinic’s Gonda Building. It all traces back to the Mayo brothers, the founders of the clinic, and their belief in the healing properties of art.
-
Think You Know How to Be Happy in Retirement? These 9 Stats May Surprise YouWhen it comes to your retirement happiness, don't believe everything you hear. We've turned to solid research for the facts on finding your bliss in retirement.
-
If You're Retired or Soon to Be, Don't Miss These Tax BreaksThe OBBB offers some tax advantages that are particularly beneficial for retirees and near-retirees. But they're available for only a limited time.
-
Waiting to Retire to Give to Charity? 3 Reasons to Do It NowYou could wait until retirement, but making charitable giving part of your financial plan now could be far more beneficial for you and the causes you support.
-
Amazon Resale: Where Amazon Prime Returns Become Your Online BargainsFeature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
-
Roth IRA Contribution Limits for 2026Roth IRAs Roth IRAs allow you to save for retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2026 limits and income-based phaseouts.
-
How to Search For Foreclosures Near You: Best Websites for ListingsMaking Your Money Last Searching for a foreclosed home? These top-rated foreclosure websites — including free, paid and government options — can help you find listings near you.
-
Luxury Home Prices Rise as the Rich Dodge High Mortgage RatesLuxury home prices rose 9% to the highest third-quarter level on record, Redfin reports, growing nearly three times faster than non-luxury prices.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How Much Life Insurance Do You Need?insurance When assessing how much life insurance you need, take a systematic approach instead of relying on rules of thumb.
-
When Does Amazon Prime Day End in October? Everything We Know, Plus the Best Deals on Samsonite, Samsung and MoreAmazon Prime The Amazon Prime Big Deal Days sale ends soon. Here are the key details you need to know, plus some of our favorite deals members can shop before it's over.
