Indiana University is now working with the city to help develop the Trades District.
The partnership is made possible through a $16 million grant from the Lilly Endowment.
IU leaders and partners in the Trades District celebrated the grant Thursday at the Dimension Mill.
The College and Community Collaboration grant aims to connect universities to their local community. Lilly announced the recipients earlier this month.
Read more: Thirteen Indiana colleges awarded more than $300 million for community collaboration
Jane Kupersmith, Bloomington director of economic and sustainable development, spoke on behalf of Mayor Kerry Thomson, who could not make it due to COVID.
“This partnership leverages the immense research and talent at IU and transforms it into tangible benefits for Bloomington,” she said.
Related: The Mill to manage Bloomington Trades District through city partnership
One thing the grant will do is build out more space for startup businesses to move into, keeping local talent in the city.
Eli Serrano works at The Mill and is a senior at IU. He has two startups, Airoma and Epoch, a finance platform. He wants to mentor other startups in Bloomington when he graduates.
“I've always had a community behind my back to, you know, really support me in anything that I do,” Serrano said. “And I think the new grant is just a testament to that.”
A portion of the grant is also going toward the final construction of The Forge, the Trades District’s tech center and latest project.
John Fernandez is the senior vice president for innovation and strategic partnerships at the Mill.
“The Trades District will have a far-reaching impact on Bloomington's economy and IU’s flagship campus by fostering a dynamic environment where startups, tech companies and creative industries can thrive. “By creating a place where entrepreneurs, researchers and investors can collaborate, the Trades District will become a magnet for talent and capital, the essential ingredients to fuel modern economy.”
IU President Pamela Whitten also spoke at Thursday’s event.
“Between the players in economic development for our town and region, for our mayor and for other elected officials, for our state representatives that participate with us, for frankly, our amazing faculty across IU and the world's best students that exist at IU, I think we got the A Team here,” she said.
