Report Highlights Bloomington EconomyPosted: Updated:
An annual report is providing a picture of Bloomington's economy. The annual "State of the Bloomington Regional Economy" outlines development, education and investment initiatives and data. You can view a PowerPoint presentation of the report by clicking here.
April 18, 2014
BLOOMINGTON, Ind. - The Bloomington Economic Development Corporation (BEDC) presented the 4th annual "State of the Bloomington Regional Economy" report, a presentation highlighting key metrics and components of the Bloomington and Monroe County regional economy. The meeting took place on April 16th at the Bloomington/Monroe County Convention Center with almost 200 attendees.
This year's report provided attendees with an economic and demographic overview of Monroe County and the Bloomington Metropolitan Statistical Area (MSA); a review of the local residential real estate market; a summary of the local commercial real estate market; a look at creating and maintaining a vibrant and innovative downtown; IU-Bloomington's capital development plan; and information on the city's new Certified Technology Park.
Presenting at the annual meeting was:
-Kevin Halloran, Chair, BEDC and Attorney, Bunger & Robertson
-Keynote: Danise Alano-Martin, Director, Economic & Sustainable Development, City of Bloomington
-Talisha Coppock, Executive Director, Downtown Bloomington, Inc./Bloomington-Monroe County Convention Center
-Jerry Conover, Director, Indiana Business Research Center
-Tom Morrison, Vice President for Capital Planning and Facilities, Indiana University
-Mark Brown, Senior Vice President for Finance & Research, Indiana Association of REALTORS
-Eric Stolberg, President, WS Property Group
-Duane Embree, Executive Director, Indiana Office of Defense Development
-Moderator: Lynn Coyne, Interim President, BEDC
Highlights from the State of the Bloomington Regional Economy included:
-New computer programming school set to open in Bloomington this summer
-Updates on the downtown Bloomington Certified Tech Park
-$45 million private dollars were invested in downtown Bloomington in 2013/14
-The number of downtown businesses has increased 30% in the past 15 years
-Tourism grew by 16% from 2009 to 2013
-Local per capita income up 4% since 2010
-Bloomington MSA hit all-time high for GDP in 2012 at $5.3 billion
-Existing home sales in Bloomington were up 9.3% in 2013
-Developers report that access to capital for commercial real estate has increased in the past year
-The defense industry continues to be an integral part of Bloomington's economy and will grow with an increased focus on technology transfer from NSWC Crane
The full "2014 State of the Bloomington Regional Economy" presentation is available on the BEDC's website at www.comparebloomington.us.
About the BEDC
The Bloomington Economic Development Corporation (BEDC) is a not-for-profit, public-private partnership dedicated to the retention, development, and attraction of quality jobs in Monroe County. The BEDC is led by a partnership of private industry leaders, the City of Bloomington, Monroe County, Indiana University, and Ivy Tech Community College-Bloomington. For more information, visit www.comparebloomington.us.
Source: The Bloomington Economic Development Corp.