Certified Technology Park
Certified Technology Park
Certified Technology Parks are created as a tool to support the attraction and growth of high-technology business and to promote technology transfer opportunities. The State awards the designation to communities that are partnering with a research institution and that meet certain criteria, such as a commitment from a technology business to create jobs in the park and the existence of a business incubator.
Designation as a Certified Technology Park allows for the local recapture of up to $5 million of certain state and local tax revenue, which can be invested in the development of the park. In addition to the recapture of tax revenue, communities may seek up to $4 million in grant funding from the State for use within the park.
The Bloomington Certified Technology Park encompasses 65 acres of downtown and is home to several technology companies as well as other downtown professional offices. The Tech Park is adjacent to many cultural attractions, downtown restaurants, core neighborhoods and downtown housing. The B-Line Trail, the City's multi-use urban trail, runs through the area further linking the Certified Technology Park to other areas of of Bloomington's historic, vibrant downtown and to parts beyond.
Map
Vision for Master Plan and Redevelopment Strategy
In February 2012, the City of Bloomington selected a consultant team to assist with the development of a market resource analysis, and a Master Plan and Redevelopment Strategy for core properties within the Certified Technology Park. This plan will assist the City and community in realizing the vision for the area as a sought-after model of modern, sustainable urban redevelopment that nurtures creativity and entrepreneurship among its citizens and workforce, helps brand Bloomington as a lively tech sector hub, attracts private investment, employment and visitors, and provides welcoming living options for citizens. The area shares some overlapping geography with the Bloomington Entertainment and Arts District (BEAD), so the Technology Park will also share BEAD's "local first" sensibilities when it comes to retail and restaurants, with the goal of deepening Bloomington's unique character.
Public input during the development of this plan will be vitally important. The planning process is expected to last through January 2013, during which several opportunities for public input will be created.
The following documents have previously been prepared through a strategic planning process and will inform the efforts to develop the Master Plan and Redevelopment Strategy:
Additional Information
Stay tuned to this website for additional news and meeting updates or contact Danise Alano-Martin, Director of Economic & Sustainable Development, at 349-3418.