Mayo Clinic is lobbying state lawmakers to build support for a new, possibly first-of-its-kind tax incentive program aimed at helping make Rochester become a more patient-friendly community
The Rochester Post-Bulletin says proposed legislation centers on private companies that commit to making a sizable investment in the state. It would allow a portion of the revenue generated by these developments to be used to build public infrastructure.
Those sources of revenue could include income taxes, sales taxes and statewide property taxes. That would make it a ramped-up version of tax-increment financing Mayo Clinic spokesman Karl Oestreich said the legislation is part of Mayo Clinic's broader Destination Medical Community initiative to improve the patient experience in Rochester.
The paper says the push comes as some of the clinic's biggest competitors such as Cleveland Clinic, Johns Hopkins and Massachusetts General are making major investments in a bid to attract more business.