BLOOMINGTON – Bloomington has been awarded a $3.5 million CARES Act grant from the U.S. Department of Commerce to help with the development of a new Trades District Technology Center.
Administered through the department’s Economic Development Administration, the federal grant is to be matched by $1.6 million in local funds.
Bloomington Mayor John Hamilton says the Trades District Technology Center would attract employers and job growth in many sectors and connect local tech companies to regional, national, and international partners and resources.
The city applied for the grant last fall in partnership with the Bloomington Economic Development Corp. The EDA estimates that the grant will create 530 jobs and generate $51 million in private investment in the region.
The city says in addition to a mix of small- to medium-sized tenant office spaces, the proposed three-story, the nearly 30,000-square-foot building could include shared amenities and convening spaces for tenants, local tech companies, and industry-related partners.
Information, Inside INdiana Business