BLOOMINGTON'S FUTUTRE REIMAGINED: $16M GRANT FUELS INNOVATION & ECONOMIC GROWTH IN THE TRADES DISTRICT
Crossposted from the Herald-Times, this is The Mill’s regular column, written by Pat East, Executive Director.
Civic and university leaders, along with Indiana University President Pamela Whitten, gathered at The Mill on August 29th to celebrate a $16 million grant from Lilly Endowment Inc. awarded to Indiana University. This grant, part of Lilly Endowment’s statewide College and Community Collaboration initiative, will accelerate the development of Bloomington’s innovation hub, the Trades District. The funding represents a transformative opportunity for the city, paving the way for substantial economic and community benefits. It builds on Bloomington’s expanding entrepreneurship ecosystem, which includes partners such as IU Innovates, IU Ventures, The Mill, and the City of Bloomington.
Why does this matter?
Despite Bloomington’s many positive attributes, major challenges pose real risks to our economic vitality and thereby threaten our capacity to sustain and increase our community’s quality of life advantages. Our city, for the first time I can remember, has experienced population decline over the past three years – despite record enrollment at IU Bloomington. The biggest decline has been in the 25 to 40-year-old age range. Simply put, we are losing the battle for the very talent that is essential to the success of our existing employers and ability to attract new high-paying employers.
The transformation of the Trades District into a vibrant innovation hub at the heart of our city will have a far-reaching impact on Bloomington’s economy. By fostering a dynamic environment where startups, tech companies, and creative industries can thrive, the district will create new jobs and attract talent to the area. This influx of innovation-driven businesses will diversify the local economy, making it more resilient and sustainable in the face of economic shifts. Moreover, as these companies grow, they will contribute to an expanded tax base, enhancing public services and infrastructure for all residents.
What will this grant fund?
The Lilly Endowment grant supports three key Trades District initiatives:
- Attracting quality employers and jobs;
- Accelerating development in the Trades District; and
- Enhancing Trades District placemaking.
The grant will fund tenant office build-outs within The Forge, Bloomington’s new sustainable office building in the Trades District, making it an attractive option for tech companies seeking new space. Additionally, the grant funds an addition to The Mill, accommodating its continued growth. Finally, the grant will enable The Mill’s purchase of adjacent properties owned by the City’s Redevelopment Commission to accelerate strategic development projects and expand the City’s ROI on its prior Trades District investments. Coordinated arts and infrastructure placemaking activities, including several new public art installations and streetscape improvements, will increase connectivity and quality of place in and around the Trades District.
In addition to economic growth, the Trades District will significantly boost Bloomington’s reputation as a regional innovation hub, enhancing the I-69 corridor’s innovation ecosystem. By creating a space where entrepreneurs, researchers, and investors can collaborate and innovate, the district will become a magnet for talent and capital – the essential requirements for a modern economy. This will not only attract new businesses to Bloomington but also encourage existing ones to expand and innovate, driving further economic development throughout the region. The enhanced innovation ecosystem will position Bloomington as a leader in the state and beyond, drawing in top-tier talent and high-growth companies.
Lilly Endowment’s grant is already supporting efforts underway at The Mill underscoring the power of collaboration in driving community development. The partnership between Indiana University, The Mill, and the City of Bloomington reflects a shared vision for Bloomington’s future, one that prioritizes innovation, inclusivity, and sustainability. The Trades District Advisory Board, comprising university and civic leaders, provides oversight of the grant funding; additional oversight will be provided by a Corporate Recruitment Working Group and the Trades Arts Pathways Taskforce. This collaborative approach ensures that the benefits of the Trades District’s development will be broad-based, reaching all corners of the community. Residents will have access to new job opportunities, educational programs, and community spaces, fostering a sense of pride and ownership in the District’s success.
The development of the Trades District will create a vibrant area that enhances the quality of life for all Bloomington residents. With plans for public art, and community gathering areas, the district will become a destination not just for work, but for leisure and community engagement as well. This focus on creating a livable, welcoming environment will help retain local talent and attract new residents, contributing to a diverse and dynamic community and marking a significant milestone in Bloomington’s journey to becoming a hub of innovation and economic vitality.
By accelerating the transformation of the Trades District, this grant, alongside recent major regional investments, presents a rare, high potential opportunity to stimulate Bloomington’s economic growth. Through this bold and ambitious collaboration between IU, the city, and economic and community development partners across the region, this grant will catalyze a bright future for Bloomington and the entire I-69 corridor.
Pat East is the Executive Director of The Mill, a non-profit entrepreneurship center on a mission to build and nurture Bloomington’s startup ecosystem. Our vision is to become the center of tech entrepreneurship in Indiana
