Bloomington ranked 22nd for business

Bloomington is more than a college town — it’s also a place for business.

Bloomington ranked 22 of 184 in a list of the top “Best Small Places For Business And Careers” released this month by Forbes Magazine.

“The ranking helps us tell the success story that we’re creating the right environment for businesses,” Bloomington Mayor Mark Kruzan said in an email. “Our economic development philosophy is that quality of life is synonymous with economic vitality.”

The ranking included information about multiple communities’ metro populations, major industries, median household income, unemployment and cost of living, among other criteria.

Bloomington was also ranked 18 of 184 in the cost of doing business category.

“Our local cost of living is 10+ percent lower than the national average, which means lower costs for businesses,” Kruzan said. “The strong higher education presence in the community means an educated workforce that fuels a strong economy.”

Bloomington also ranked   31  out of 184 in the education category.

Nels Boerner, owner of Darn Good Soup, 107 N. College Ave., said Bloomington is a great place to open a small business.

“Bloomington seems to be receptive to small businesses and want small businesses rather than just another Starbucks,” Boerner said.

Jeb Conrad, President and CEO of the Greater Bloomington Chamber of Commerce,  said Bloomington has a more vibrant entrepreneurial environment than other markets where he has worked.

“It’s great that Bloomington has got some of the appropriate assets that lend itself to be favorable to small businesses and careers,” he said.

Conrad said Bloomington’s reasonable cost, good talent pool, well-educated work force and geography make it attractive.

“There is a progressive interest in developing new technologies and other projects to start a small business,” Conrad said. “Bloomington offers that type of culture.”

Conrad said part of the stability of the marketplace is driven by the University.

“Because of the University as a major employer, you don’t see any dramatic major fluctuations in cost of doing business and cost of living compared to other communities, so it’s favorable for us,” he said.
    
Follow business reporter Alli Friedman @afreedz.