Rochester Recognized As Innovative City
Rochester, MN (KROC AM News) – Make it two in a row. For a second straight year, Rochester has been ranked the third most innovative city in the country.
The prime reason for the high ranking is the large number of patents produced in the city.
This ranking was made by Business Insider, a financial and business news website. Rochester was also ranked third in 2018 by 24/7 Wall Street.
“This ranking represents the strong innovative spirit in our community. While many know Rochester for being a city of compassion and the home to the world-class Mayo Clinic, we hope that this recognition brings about a greater awareness of the vast innovation that exists as well,” shares City Administrator Steve Rymer.
According to Business Insider, Rochester produces an average of 606 patents per year. The Brookings Institution notes that patenting is at its highest level since the Industrial Revolution.
“Innovation is key to the transformative development taking place in the Destination Medical Center district,” notes Lisa Clarke, executive director, Destination Medical Center (DMC)Economic Development Agency. “With the recent opening of One Discovery Square, Rochester is entering into a new era of innovation and entrepreneurship.
The only other Minnesota city on this year’s list was Minneapolis-St. Paul, which was ranked 20th.
A full list of the top 20 cities can be found here.