Economic Development Strategic Plan

Economic Development Strategic Plan

The Port Authority of the City of Bloomington is guided by an economic development strategic plan that was adopted in February of 2025. 

• 2025 - 2030 Economic Development Strategic Plan
• EDSP Executive Summary

Economic vision statement

Bloomington is a leading economic center in the region, fostering innovation, supporting local businesses, and enhancing the quality of life for all residents through equitable strategic investment and sustainable development.

Guiding principals

• Inclusive and equitable growth
• Sustainability
• Collaboration and service
• Accountability

Objectives

1. Traded Sectors: Enhance Bloomington’s traded sector economy by recruiting, retaining, and expanding businesses to bolster economic growth.
   1. 1.1. Business Retention and Expansion
   2. 1.2. Business Recruitment
   3. 1.3. Partnerships
       
2. Small Business: Actively support and expand local small businesses to bolster community resilience and stimulate economic growth.
   1. 2.1. Business Support
   2. 2.2. Annual Business Forum
   3. 2.3. Permitting
   4. 2.4. Buy Local
       
3. Innovation: Foster a dynamic startup ecosystem to drive innovation and economic diversity.
   1. 3.1. Ecosystem
   2. 3.2. Funding
   3. 3.3. Networking
   4. 3.4. Industry Engagement
       
4. Thriving Places: Cultivate vibrant, livable, and inclusive neighborhoods and commercial areas to enhance quality of life for residents and visitors.
   1. 4.1. Creative Placemaking
   2. 4.2.Commercial Nodes
   3. 4.3. Public Spaces
       
5. Real Estate and Infrastructure: Ensure that Bloomington is prepared for strategic large-scale commercial and residential development.
   1. 5.1. Development
   2. 5.2. Affordable Housing
   3. 5.3. Land Banking
   4. 5.4. Infrastructure
       
6. Talent Attraction and Retention: Attract and retain diverse talent to support Bloomington's economic growth and resilience.
   1. 6.1. Talent-Focused Promotion
   2. 6.2. Higher Education
   3. 6.3. Talent Retention
       
7. Wraparound Services: Ensure Bloomington has the comprehensive support services needed to enhance workforce productivity and well-being.
   1. 7.1. Workforce
   2. 7.2. Childcare
   3. 7.3. Housing
   4. 7.4. Mobility Support
       
8. Marketing and Events: Utilize Bloomington’s tourism sector as a catalyst for broader economic development, creating synergies between tourism and local business growth.
   1. 8.1. Marketing and Communications
   2. 8.2. Events