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The Mill to manage Bloomington Trades District through city partnership

By Lucas González

Posted January 26, 2023

The Dimension Mill on North Madison Street.

The Mill will manage the development and marketing of the Trades District, a portion of the Bloomington Certified Technology Park. (Holden Abshier, WFIU/WTIU News)

The Mill coworking center will now oversee Bloomington’s Trades District as part of a partnership agreement designed to expand the city’s economy.

Through the agreement announced by Mayor John Hamilton’s office, The Mill will manage the development and marketing of the district, a 12-acre portion of the Bloomington Certified Technology Park. The agreement was approved by the Bloomington Redevelopment Commission on Monday.

The mayor’s office says the partnership is intended to “expand Bloomington’s innovation economy, attract cutting-edge companies, and create high-paying jobs.”

The Trades District is located northwest of downtown and was previously occupied by the Showers Brothers Furniture Company.

The city says its first priorities are to establish an executive director for the Trades District and Tech Center and finalize its vision for the Trades District Technology Center, as well as oversee its construction, recruit tenants and further city partnerships.

The goal, according to Hamilton’s office, is to transform the Tech Center and Trades District into “a thriving hub of innovation.”

The Mill Executive Director Pat East said clustering tech companies together, like at The Mill, has had a “compounding effect” on innovation.

“To accomplish the economic development goals for our region, the Tech Center must become not merely a physical space but a hub of connectivity that sparks innovation and opportunity and attracts talent and investment,” East said in a statement.

The city said in a release it expects construction on the Tech Center to begin in fall 2023. It will be funded by a $3.5 million CARES Act Recovery Assistance Grant awarded by the Economic Development Administration and a $1.6 million pledge by the Redevelopment Commission matching the federal investment.

The Economic Development Administration estimates the grant will create 530 jobs and generate $51 million in private investment.

The Mill, a 501(c)(3) nonprofit, opened in 2018. Its micro-investment Flywheel Fund launched in 2020 and has invested about $1.6 million in Indiana startups, according to the city. In doing so, it has allowed those companies to attract about $8.9 million in outside investment.