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Business Incentives and Assistance

The Department of Economic & Sustainable Development is dedicated to improving the quality of life in Bloomington through its many programs and projects aimed at assisting business and social enterprises.

If you have any additional questions about business/enterprise assistance and incentive programs, please contact the Department of Economic & Sustainable Development.

Property Tax Abatement (Real or Personal Property)

The City of Bloomington recognizes tax abatement as a useful economic development tool to attract new business and industry and also to retain expanding businesses. Property tax abatement allows a property owner to phase in payment of property taxes over a designated period. Indiana law (I.C. 6-1.1-12.1) allows tax abatement for between one to 10 years. The abatement is in the form of deductions from assessed valuation. Aproperty owner in a locally designated Economic Revitalization Area (ERA) who makes improvements to real property or installs new manufacturing and/or R&D equipment may apply for property tax abatement. Applications for tax abatement are evaluated on their merits on a case-by-case basis. Please click the following links to view a complete program description and necessary application forms.

For more information, including Guidelines and Forms, visit the City of Bloomington Tax Abatement webpage.

Economic Development /Industrial Development Revenue Bonds

The City of Bloomington, upon approval by the Economic Development Commission, the Common Council and the Mayor, is authorized to issue tax-exempt Economic Development Revenue Bonds when it finds that a proposed project will be of benefit to the health and welfare of the city of Bloomington and its citizens. The purpose of such financing is to create jobs, increase the tax base and promote economic diversification. The City of Bloomington has no liability for such bonds and payment to the bond holder is the responsibility of the petitioner.

The procedure for such financing is primarily controlled by State law (I.C. 36-7-11.9 and 36-7-12), as well as the Internal Revenue Code. Before contacting the Department of Economic & Sustainable Development, those interested in exploring this financing method are urged first to seek the advice of a financial consultant or bond counsel to determine its suitability for the particular project.

Sustainable Development/Green Building Incentives

The City of Bloomington recognizes sustainability as a key component of nurturing Bloomington's long-term environmental, economic and social integrity. Property developers who engage in sustainable development practices may obtain development standard bonuses to enhance the value of their project. Sustainable development considered include substantial energy efficiency measures, commitment to affordable housing, the facilitation of the use of alternative transportation, and contributions of the project to natural landscape, among others. The employment of sustainable development practices in a project may allow developers to enjoy reductions in setback requirements and increases in residential density allowed for a project. In addition, certain filing and permit fees may be waived.

Enterprise Zone Incentives

The Bloomington Urban Enterprise Association offers specific incentives for businesses locating or expanding in the Zone.