Page last updated on February 5, 2024 at 5:18 pm
The Certified Technology Park encompasses 65 acres of downtown Bloomington and is home to several high-tech businesses. The Park is also adjacent to many cultural attractions, downtown restaurants, core neighborhoods and downtown housing. Our Certified Technology Park has the ability to capture the incremental growth of payroll and sales taxes generated within the Park, with a total available amount of $5 million. The funds collected by the City will be used for economic development purposes within the Park, including public facilities, laboratory facilities, research and development facilities, and support of the business incubator.
Plans and Documents
- Executive Summary for CTP Master Plan and Redevelopment Strategy
- Master Plan and Redevelopment Strategy for the Certified Technology Park (full plan)
- Utility Masterplan for CTP Properties
- Drainage Masterplan for CTP Core Area
Background
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 Bloomington's historic, vibrant downtown and to parts beyond.
Map
Additional Information
Stay tuned to this website for additional news and updates or contact Jane Kupersmith, Director of Economic & Sustainable Development, at 812-349-3418.