- Associated Press - Wednesday, September 24, 2014

ROCHESTER, Minn. (AP) - A state solicitor general’s opinion says a project to keep Minnesota competitive in the global health care market needs much more private money in order to qualify for $327 million in state funding.

Finance & Commerce (https://bit.ly/Y3uPXi ) reports the current formula that determines how much state money Rochester’s Destination Medical Center receives requires about $12 billion in private investments before it can get full funding. That’s twice the amount of private money Mayo Clinic and others are expected to contribute.

The formula gives DMC state money equal to 2.75 percent of private investments. DMC and Mayo officials say the calculation should include private investments from all prior years. The opinion released Tuesday says the calculation should apply only to the previous year.

At least one state lawmaker expects the Legislature to change the formula in the 2015 session.


Information from: Finance and Commerce, https://www.finance-commerce.com

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