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This month, the Bloomington Economic Development Corp. (BEDC) celebrates 40 years of advancing economic vitality across Monroe County, Bloomington and Ellettsville. Since 1985, our work has been about more than announcements and headlines. It has been about the steady, often behind-the-scenes efforts that shape the foundation of our community’s prosperity.
Monroe County has seen commitments of over 900 new jobs and more than $1 billion in capital investments through 11 BEDC-supported projects since 2020 alone. These numbers are not abstract statistics. They represent higher wages for our residents, new opportunities for local businesses and greater local tax revenue to support essential services.
We recently had a strong reminder of economic development’s impact. In August, Simtra BioPharma Solutions announced a $241 million investment to redevelop the former GE manufacturing plant it purchased from Cook Group — a project supported by the BEDC. Projects like Simtra’s not only grow a global life sciences company; they also advance the broader ecosystem that makes Monroe County a hub for innovation. Each new manufacturing line that Simtra develops will represent about 90 new jobs with annual compensation averaging $70,000, significantly above the county’s median household income.
Latest investment: Pharma firm buys 65-acre Bloomington property from Cook Group
When companies grow here, they help our community address key needs like sustainable wages and rising costs. Their projects spark positive ripple effects — from redeveloping old industrial sites to improving infrastructure and increasing community revenue.
These results aren’t accidental. The BEDC works to grow key industries and attract complementary businesses that raise wages and drive innovation, including life sciences, advanced manufacturing, defense, tech, and others. This helps our region stay competitive, resilient and prosperous.
Much of the BEDC’s work happens behind the scenes. We connect businesses with resources, inform development policy, support housing and infrastructure and serve over 100 members and partners who employ local residents. This shapes today’s decisions and tomorrow’s opportunities.
Economic development requires strong collaboration. The BEDC partners with companies, governments, property owners, utilities, education and workforce groups, and local businesses to support job growth and new investments.
This work also requires a proactive strategy for business retention, expansion and attraction. Our new Blueprint for the BOLD initiative is a vision and toolkit to market employment sites, track progress and position the community for future growth.
As we mark 40 years, we invite the community to take pride in our shared progress, including past challenges that led to new opportunities. Projects like Simtra’s expansion and the redevelopment of former Otis Elevator and Thomson Consumer Electronics sites are now home to employers including Novo Nordisk, PHOENIX and Almvoy.
The question isn’t if Monroe County will grow, but how we’ll guide it. We must stay ahead of industry shifts, support quality jobs, and align housing and quality of life with smart growth. This fall, our work will be more visible, with billboards highlighting BEDC’s impact. Once called the best kept secret, we’re now putting economic development front and center.
As we look ahead, our message is don’t miss out on the next 40 years. At BEDC, we’re committed. The next 40 years are ours to shape — boldly and together. Contact Stacie Marotta at the BEDC to learn how you can support this mission and get involved. Together, we can ensure Monroe County continues to be a place where innovation and community prosperity thrive.
Jennifer Pearl is president and Stacie Marotta is communications and membership director of Bloomington Economic Development Corp.
This article originally appeared on The Herald-Times: Bloomington Economic Development Corp 40th year of success more growth
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