On June 18, four members of our Mill team, including CEO John Fernandez (CEO), joined Bloomington’s civic, business, and economic development leaders at the BEDC’s annual State of the Bloomington Regional Economy event. It was a timely gathering as The Mill prepares to launch Mill 2.0, its next evolution as a civic platform.
BEDC President Jennifer Pearl set the stage, highlighting our region’s complex yet opportunity-rich economic landscape, which requires proactive strategies. Despite challenges like slowing productivity and demographic shifts, key sectors such as life sciences, tech, and advanced manufacturing continue to thrive, evidenced by recent growth announcements from companies like Envoy American, Symtra, and Novo Nordisk.
One of the standout discussions was led by a panel of economic experts, who addressed critical issues from tariff volatility to legislative reforms impacting local government budgets. Eric Starks from FTR Transportation Intelligence warned about business uncertainty from fluctuating tariffs, while Matt Eckerle of Baker Tilly emphasized the need for local governments to use data-driven strategies to weather financial shifts.
Perhaps most impactful was Dr. Phil Powell from the IU Kelley School of Business, who delivered a sobering yet hopeful reality check on Bloomington’s economic trajectory. Dr. Powell highlighted significant challenges, including lagging productivity growth and high housing costs, but also pointed toward promising investments like IU’s $250 million commitment to microelectronics and life sciences research.
The central message was clear: Bloomington has immense potential, but achieving it demands strategic focus, coordinated investment, and a unified civic platform. This aligns perfectly with The Mill's evolution into Mill 2.0, under the leadership of newly appointed CEO John Fernandez. Mill 2.0 isn't just a rebrand, it's a strategic transformation, broadening our role from a startup hub to a unifying civic platform. We're aligning public, private, and academic sectors to drive innovation, talent attraction, and inclusive growth across Bloomington.
Just as the BEDC event emphasized the importance of adaptability, collaboration, and strategic investments, Mill 2.0 is poised to embody these very principles. With the Trades District becoming a dynamic epicenter of growth, The Mill is leading the charge, connecting our vibrant startup ecosystem to broader civic goals, fueling both economic prosperity and cultural vitality.
The future of Bloomington is bright, but it depends on our collective action. At The Mill, we’re committed to shaping a community where startups don’t just start, they thrive. Join us in building Bloomington’s next chapter together.