BLOOMINGTON, Ind. — Indiana University has been awarded a $16 million grant to accelerate the development of Bloomington’s Trades District, the university announced Friday.
The grant, part of Lilly Endowment Inc.'s statewide initiative, College and Community Collaboration, was awarded to 13 Indiana colleges and universities.
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With the funding, IU aims to begin transforming Bloomington into a "thriving hub for innovation, economic development, and community engagement, stimulating economic growth."
"Our collaboration with Bloomington is a pivotal priority for IU," said IU President Pamela Whitten. "We are excited to join our partners in energizing the local economy by fostering innovation and creating new pathways for our talented students, staff and faculty to boldly and creatively engage with the people and businesses of Bloomington."
The grant will partially fund a project to expand capacity at The Mill, a nonprofit center for entrepreneurs and business startups.
“This transformative grant from Lilly Endowment will accelerate the revitalization of Bloomington’s Trades District,” said Pat East, executive director of The Mill. “This funding is a catalyst for economic growth, creating high-paying jobs and attracting more investment to our city."
The long-term goals of the project, according to the university, are to attract other tech and innovative companies to the city and encourage public art and revitalization projects.
"By formally joining together with Indiana University and The Mill, we are setting the stage for a future where Bloomington thrives as a hub of creativity and progress,” said Bloomington Mayor Kerry Thomson.
Several schools across the IU Bloomington campus are expected to play a role in the collaboration, including the Eskenazi School of Art, Architecture + Design, the College of Arts and Sciences, the Luddy School of Informatics, Computing and Engineering, and the Kelley School of Business.
