The Hormel Institute remains focused on the vision it had since it was established in 1942 by Jay C. Hormel and donated to the University of Minnesota: Improve the health of the world through medical research. Significant research accomplishments of the institute include the research and naming of omega 3 and omega 6, research of compounds found in green tea and ginger and the effects of obesity and caloric restriction on cancer, among other significant research discoveries.. The current focus of The Hormel Institute is dedicated to research leading to the prevention and control of cancer and other chronic diseases. The Hormel Institute has developed major collaborative research partnerships with Mayo Clinic and IBM and other significant research partners around the world.

The Hormel Institute has completed construction of an expansion project which added a new building housing 20 state of the art science labs and renovation to the 1960 facility. The expansion tripled the size of the Institute and will add 100 new research scientists and staff personnel over the next few years. As an outcome of the expansion, The Hormel Institute is also developing the International Center of Research Technology. The ICRT will be a regional research center to offer scientists, biobusinesses, researchers, medical centers and academic institutions access to the most cutting edge instruments and technologies available in the world today. The Development Corporation of Austin is a collaborator in the development of the ICRT. .