Lilly Endowment’s College and community collaboration Grants have awarded the Indiana University Foundation $16 million to accelerate the development of Bloomington’s Trades District.

Here is a summary of the development of the Trades District and how the funding will be used to accelerate economic development in the technology park.

What is the Bloomington Trades District?

The Commercial district is a technology park under development in downtown Bloomington. It is one Certified technology park which allows for the capture and reinvestment of state and local tax revenues in public infrastructure. Bloomington has pledged to invest in economic development within the park, including public and laboratory facilities, research and development facilities, and support for The Mill.

The millBloomington’s entrepreneurship incubator and coworking space, opened in 2018 and serves as the hub of the commercial district.

The 12-hectare technology park is part of the former Showers Brothers Furniture Factory site which once employed a “massive” workforce, according to John Fernandezsenior vice president of innovation and strategic partnerships at The Mill. The district also plans to add a hotel.

What is the Forge in Bloomington?

The forge is the latest development in the Trades District. This $13 million technology center covers 22,000 square feet and is on track to open in late 2024. It is envisioned as an “innovation hub” that offers space for growth-stage companies, provides employment opportunities for new IU graduates and gives technology companies access to a trained workforce and customers including the US military at Crane.

How will the $16 million investment be used?

The $16 million grant will partially support development and activation of the Trades District. That includes expanding capacity to incubate entrepreneurs at The Mill, attracting high-paying jobs to The Forge, facilitating neighborhood development and revitalization projects, and creating new artworks, art trails and cultural programming that engage Bloomington’s creative community.

How is Indiana University involved in the Trades District?

Development of the commercial district began in 2005 when the city’s plan for a certified technology park was approved by the state. In 2011, the City of Bloomington purchased the land for the Trades District from Indiana University.

According to a press release, the Eskenazi School of Art, Architecture + Design will be engaged in public art and cultural programming within the Trades District.

Additional schools across IU Bloomington are expected to participate, including the College of Arts and Sciences, the Luddy School of Informatics, Computing and Engineering and the Kelley School of Business.

The grant will also increase the involvement of other IU schools and programs, including IU Innovates and IU Ventures, in projects that stimulate innovation and entrepreneurship on campus and in the city. University partnerships in the Trades District align with IU 2030: The Indiana University Strategic Plan, which calls for investment in innovative and transformative research with industry and community partners.

The IU Foundation was the recipient of the grant and worked with the city and The Mill to complete the application.

What is the Lilly Endowment’s College and Community Collaboration Initiative?

The Lilly Endowment launched the College and Community Collaboration initiative in early 2023, according to a press release. The initiative is designed to encourage Indiana colleges and universities to work closely with community stakeholders to envision and jointly implement significant community development efforts to create more vibrant places to live, learn, work and play.

Reach Jill Bond at [email protected].

This article was originally published on The Herald-Times: IU Foundation gets $16 million to advance Trades District tech park