Bloomington and Monroe County are at an “inflection point,” according to John Fernandez, current CEO of Amplify Bloomington, and now is the time for changes needed to ensure the city, county and region remain strong economically.
Fernandez is a former Bloomington mayor (1996-2003) who served as President Barack Obama’s assistant secretary of Commerce for economic development, then joined the multinational law firm Dentons as its chief innovation officer, before returning to Bloomington. He talked about the role Amplify Bloomington is taking to bolster Bloomington’s economic future during the Feb. 25 Bloomington Press Club meeting.
The city’s and county’s revenue has to grow faster than the cost of services or there will be no growth, but instead decline, he said. Right now that balance may be changing. Once the decline starts, it begins to spiral, and it’s difficult to stop, he said. “The warning signs are there. It’s not too late, but it’s time to change.”
What is Amplify Bloomington?
Fernandez said Amplify Bloomington is the “umbrella” agency that encompasses The Mill (where start-up companies begin), The Forge (where start-ups take the next step of growing their business) and the Trades District. Amplify works to secure research, talent and funding from companies coming to Bloomington. Another needed component, he said, is “place making,” which is transforming under-used areas into public places people can access, such as parks and plazas.
The ultimate goal is providing entrepreneurs and their companies space to develop and grow while also establishing affordable housing and engaging community events and spaces, he said.
Why is Amplify Bloomington needed?
Fernandez said Bloomington’s population is decreasing, a change from the past. The decline is greatest in the 25- to 50-year-old category, he said. That is a sharp decline in the community’s workforce, which means there’s a smaller income tax base for Bloomington and Monroe County. That’s less revenue for supporting schools and other needed community services.
Those decreases will affect the quality of life unless the trend is reversed, Fernandez said. What’s needed are dual-income families moving to and living in the community.
“We need those people to live here” not just work in the community, while commuting from surrounding counties, he said. The way to grow the income tax revenue to provide better services and opportunities it to have more people living in Monroe County.
Fernandez shared that one of the last large residential neighborhoods he recalls being built in Bloomington was Renwick, which was being established when he was mayor, more than 20 years ago. Since then it’s been mostly apartments and complexes that have been constructed, he said.
More homes in residential neighborhoods are needed to reduce the number of workers commuting from nearby counties. But there’s a deeper problem, he said — community leaders, some of whom are afraid of change.
Goals of Amplify Bloomington
In order to encourage people to stay or move to Bloomington, working and living within the community, changes need to happen, Fernandez said.
First, growth of the area’s entrepreneurial businesses is needed to increase the capital available.
Then, new companies need to be enticed to locate in the Trades District and elsewhere within Bloomington and Monroe County, Fernandez said. That means Amplify Bloomington and other agencies need to have places available for those new businesses to succeed, he told the group.
Finally, “community activation” is needed. That entails elevating Bloomington’s “brand” so people understand the assets — from good schools to parks and entertainment — that the community provides. Bloomington needs to be known as one of the top college towns across the U.S., alongside Boulder and Fort Collins, Colorado; Athens, Georgia; and Ann Arbor, Michigan, he said.
Where to turn for help
Major partners currently working with Amplify Bloomington are the city of Bloomington, Indiana University and Cook Medical Group, Fernandez said. Other groups include the Regional Opportunities Initiative, the Greater Bloomington Chamber of Commerce and Ivy Tech Community College.
But Fernandez believes state officials should help, as well. “Indiana needs Bloomington to be successful,” he said, offering something different from other Hoosier communities, offering a special place.
“We don’t want to lose what makes this place special,” he said.
Contact Carol Kugler at ckugler@heraldt.com.
This article originally appeared on The Herald-Times: Time for change is now and Amplify Bloomington can help, CEO says
Reporting by Carol Kugler, The Herald-Times / The Herald-Times
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