It's Your Biz: Business outlook, vision for Monroe County - how we're getting there
Everything in our community is connected. The success of a business is not limited to the conditions in the building in which it operates. Our team at the Bloomington Economic Development Corp. (BEDC) often hears from local and regional employers about their broader ecosystem needs, such as housing, transportation, workforce, infrastructure, broadband and more. These needs are often shared between employers, regardless of size or industry, and affect their businesses, their workers and our neighbors.
Shared problems invite shared solutions, which is why the BEDC recently announced an initiative to convene partners and community members to develop a collaborative economic development vision and strategy for Monroe County. The strategy will create a shared vision for the future, while integrating existing efforts from across the community and region. By having agreed-upon goals and objectives, partners across sectors can tackle shared challenges by rowing in the same direction.
Part of knowing where the community is headed is knowing where we are now. Last year, the BEDC interviewed 20 members and partners regarding their outlooks for 2021. We found industries were impacted and recovering differently from the pandemic, remote work presented opportunities for some and challenges for others, and ongoing issues included workforce, housing and commercial property.
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Looking ahead to 2022, the BEDC again asked its members and partners about their outlooks for the new year. The results, along with national, state and local forecasts developed by the Indiana Business Research Center, will be presented at the 2022 Indiana Business Outlook Panel, sponsored by the Bloomington Rotary Club, the Greater Bloomington Chamber of Commerce, the Indiana Business Research Center, and the Indiana University Kelley School of Business. Virtual seats remain open, and those interested in attending at 11:30 a.m. Nov. 9 can register online.
Economic development works to create conditions that enable our neighbors to achieve individual and economic potential. Attend the 2022 Indiana Business Outlook Panel to learn more about current and expected conditions. Stay tuned for more information about the collaborative economic development vision and strategy for Monroe County — which will require both funding and participation — to help shape future conditions. Connect with the BEDC at www.bloomingtonedc.com for any other economic development-related needs.
We are proud of what our community looks like today, and excited about what it could look like tomorrow.
Jennifer Pearl is president and CEO of Bloomington Economic Development Corp. This article was co-written with Megan Bursch, IU O’Neill Fellow at the BEDC.
This article originally appeared on The Herald-Times: Monroe County initiative to develop economic development vision begins
