City works on technology park

Bloomington owns 12 of the 65 acres of the Certified Technology Park in the downtown area, which will be integrated into the fabric of downtown.

CTPs are created as a tool to support the growth of high-technology business and to promote technology transfer opportunities.

The State of Indiana gives the designation of CTP to communities that collaborate with research institutions and meet certain criteria, such as a commitment from a technology business to create jobs in the park, according to Bloomington’s website.

Designation as a CTP allows for the local recapture of up to $5 million of state and local tax revenue, which can be invested in the development of the park, according to the CTP Master Plan and Redevelopment Strategy.

The CTP in Bloomington is not a typical CTP, off an interstate or highway, because it is the heart of downtown, said Danise Alano-Martin, Economic and Sustainable Development Director.

The CTP has a strong focus in sustainability, Alano-Martin said.

“When a private sector creates new building construction, we ask them to focus on green building design,” Alano-Martin said.

Another part of the green aspect of the CTP is sustainably managing storm water.

This project will take about 15 to 20 years to be fully realized, Alano-Martin said.

A good portion of the CTP is an area with an industrial history, Alano-Martin said.The CTP is the former home of the Showers Brothers Furniture Factory that was at one point the largest furniture manufacturer in the world.

“We want to pay homage to that history, and there are some historic buildings that we want to see adaptively reused,” Alano-Martin said.

The approach to redevelopment in the CTP is multifaceted, Alano-Martin said. It is one that emphasizes the historical aspects, working and living downtown and the technology business aspect.

One of the primary motivating factors of the technology park is to create jobs in Bloomington, Alano-Martin said.

CTPs, as a requirement, focus on tech companies and creating jobs, while also helping existing tech companies in Bloomington grow and attract companies.

“It’s another piece of downtown where people might go to a café or a restaurant, work there, spend time in the green space or might actually live in the certified technology park,” Alano-Martin said.

According to the Master Plan and Redevelopment Strategy, “This place is a vibrant downtown district, full of things to do and places to go, a place where collaboration thrives and where relationships are forged.”

Follow reporter Mary Hauber on Twitter @mary_hauber.