INDUSTRY OVERVIEW
As a result, the city’s dining, hospitality, and entertainment segments continue to be robust. What’s more, the expansion of the Mayo Civic Center in Rochester demonstrates how the city has evolved to become the premier Midwest destination for conventions, trade shows, and other events. Additional industries driving Rochester’s growth and innovation include medical technology, agribusiness/food, tourism, and information technology, to name a few. When it comes to technology, Rochester is emerging as a national center of life sciences industries, covering biotechnology, pharmaceuticals, and healthcare research. The region is teeming with the critical ingredients to make it to the top tier of technology communities, thanks to high-quality university research that is involved with industrial efforts and increased early-stage venture capital for technology endeavors.
And thanks to IBM, which established a presence in Rochester in 1956, the information technology (IT) industry is also a significant contributor to the local economy. The IBM Rochester site continues to be a leader in software and hardware development and IT services innovation. Manufacturing also plays an important and strategic role in the region’s economy. It supports a broad range of careers, from precision assembly and engineering to food production and industrial fabrication. From metal fabrication to food to medical segments, manufacturing employs over 9,000 people in the Rochester region, according to Bureau of Labor Statistics, accounting for about 6.6% of total employment in the Rochester area. Thanks in part to the close proximity to the world-renowned Mayo Clinic and its extensive network of suppliers, Rochester boasts a strong medical- related manufacturing presence in the region. From hospital and surgical equipment to medical devices, the advanced medical manufacturing industry in the region supports Rochester’s healthcare delivery and research, as well as its clinical innovation.
14 ROCHESTER AREA COMMUNITY GUIDE & CHAMBER DIRECTORY
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