The City of Bloomington resides in Monroe County. The Bloomington Metropolitan Statistical Area (Bloomington MSA) is defined by the United States Census Bureau as an area consisting of two Indiana counties—Monroe and Owen. Economic Growth Region 8 includes Brown, Daviess, Greene, Lawrence, Martin, Monroe, Orange and Owen counties.
|Labor Force||Employment||Unemployment||Unemployment Rate|
|Economic Region 8||149,379||142,099||7,280||4.9%|
Data Source: STATS Indiana (2016), Hoosiers By The Numbers (2016)
|Yesterday (2010)||Today (2016)||Tomorrow (2020)|
Data Source: Hoosiers By The Numbers (2016)
|Bloomington MSA||Monroe County|
|5 to 17||19,917||16,517|
|18 to 24||40,642||39,115|
|25 to 44||41,224||36,636|
|45 to 64||35,865||29,421|
|65 and older||21,067||17,308|
Data Source: STATS Indiana (2016)
Race and Ethnicity – Bloomington MSA
|Hispanic or Latino (any race)||3.1%|
|Two or more races||2.3%|
|American Indian/Alaskan Native||0.3%|
Data Source: Hoosiers By The Numbers (2016)
|High School +||Bachelor’s Degree +|
Data Source: Stats Indiana
Higher Education Enrollment
|Ivy Tech Community College-Bloomington||10,000|
Data Source: Indiana University-Bloomington and Ivy Tech Community College-Bloomington
Employment By Industry
|Industry||Bloomington MSA*||Monroe County|
|Health Care and Social Assistance||9,835*||9,835|
|Accommodation and Food Services||8,461||8,122|
|Professional, Scientific, Technical Services||4,267||4,042|
|Arts, Entertainment, and Recreation||2,011||1,927|
|Transportation and Warehousing||1,551||1,290|
* These totals do not include county data which are not available due to BEA non-disclosure requirements.
Data Source: STATS Indiana, U.S. Bureau of Economic Analysis (2016)
2015 Bloomington MSA Average Yearly Salary = $42,833
2015 Bloomington MSA Per Capita Personal Income = $36,926
2015 Monroe County Median Family Income = $43,389
Data Source: Hoosiers By The Numbers (2016), United States Census Bureau (2016)
Data Source: Hoosiers By The Numbers (2016)
Data Source: Stats Indiana (2016)
Indianapolis International Airport
Bloomington is only 47 miles (less than a one hour drive) from the Indianapolis International Airport (Airport Code: IND), which serves approximately 8.5 million passengers on 11 major airlines each year. Indianapolis International Airport is also one of the world’s largest cargo airports (eighth in the United States, 21st worldwide).
As of the first quarter of 2012, there were 135 daily departures to 34 nonstop destinations from Indianapolis International Airport (IND).
For more information, visit www.indianapolisairport.com
Nonstop destinations to/from Indianapolis:
For more information, visit www.indianapolisairport.com.
Monroe County Airport
Monroe County Airport (Airport Code: BMG) is a county-owned public-use airport located three miles southwest of Bloomington’s central business district. Our community’s aviation facility provides convenient access for private, corporate, and chartered commercial aircraft operations.
The airport’s 6,500 foot runway will easily accommodate your business needs, and with nearly 50,000 annual operations, local and transient businesses utilize the air traffic control services, precision instrument landing systems, automated weather services, and full service Fixed Base Operators. For more information, visit www.airnav.com/airport/BMG. For the 2012 AAI Economic Impact Study on Indiana airports, visit here.
The Indiana Rail Road Company is a Class 2 regional freight railroad operating on a 500-mile route structure of former Milwaukee Road and Illinois Central lines in Indiana and Illinois, including terminals at Chicago, Indianapolis, Terre Haute and Louisville.
Annual car loadings approach 170,000 and include coal, petroleum products, plastics, ethanol, grain, aggregates, lumber, appliances and other mixed freight. For more information, visit www.inrd.com.
Designated as one of six Corridors of the Future, I-69 will ultimately extend from Mexico to Canada– making it the primary north-south artery for the movement of goods and services in the US.
I-69 is rapidly moving through construction. Sections 1 through 3 from Evansville to Crane Naval Surface Warfare Center are now open to traffic and Section 4 from Crane to Bloomington is slated to open by early 2015. At the peak of construction in 2011, I-69 was the longest contiguous new terrain interstate construction project in the U.S., putting Indiana in an enviable position to attract new jobs in a competitive global market place.
For more information on the I-69 Evansville to Indianapolis project, visit here.
Navigable Inland Ports
Indiana ranks 6th in U.S. waterborne shipping and 13th for foreign and domestic shipping with about 70 million tons of cargo per year. More than half of Indiana’s border is water, which includes 400 miles of direct access to two major freight transportation arteries – the Great Lakes/St. Lawrence Seaway and the Inland Waterway System. The Ports of Indiana is self-funded enterprise that operates a system of three ports on the Ohio River and Lake Michigan for the state of Indiana.
Access to Indiana ports:
- Port of Indiana-Jeffersonville: 100m
- Port of Indiana-Mount Vernon: 168m
- Port of Indiana-Burns Harbor: 210m
For more information, visit www.portsofindiana.com.
City of Bloomington Economic Development Areas
Community Revitalization and Enhancement Districts (CRED)
Tax Increment Financing (TIF)
Monroe County Opportunity Zones
Additional Map Resources
Property taxes in Indiana are administered at the local level. More than 99 percent of the revenue generated by property taxes remains in the community in which they are collected. In Bloomington and Monroe County, you’ll find some of the lowest property taxes in the United States. Locate your business here and reap the benefits of award-winning public services and a business friendly tax structure.
Real and personal property tax is asessed at market value. Tax rates and exemptions vary among local jurisdictions, but are effectively capped at 3% for business property pursuant to state law.
|Bloomington, Bloomington Twp.||2.0762%|
|Bloomington, Perry Twp.||2.0754%|
|Bloomington, Richland Twp.||2.4191%|
|Ellettsville, Richland Twp.||2.4241%|
|Bloomington, Van Buren Twp.||2.1105%|
|Ellettsville, Bean Blossom Twp.||2.4220%|
Individual Income Taxes
City of Bloomington: NA
Monroe County: 1.095 percent
State of Indiana: 3.4 percent
Corporate Adjusted Gross Income Tax
Indiana’s Corporate Adjusted Gross Income Tax is calculated at a flat percentage of the company’s adjusted gross income attributable to the company’s Indiana sales. The applied Corporate Income Tax rate beginning July 1, 2012 is 8.0% and will be reduced to 6.5% by 2015 through 0.5% per year reductions.
Sales and Use Tax
Indiana’s Sales and Use Tax is calculated at a rate of 7%.
Gross Receipts and Inventory Tax
Indiana has no gross receipts tax and no inventory tax.
Get the support of private and public partnerships that work together with leaders in government, community and business to secure local, state and federal assistance to help you succeed in Bloomington.
Grow your business in Bloomington with:
- Tax Credits
- Tax Exemptions
- Workforce Training
- Other State Incentives
- Local Assistance
- Tax Abatement
To learn about incentives available for your project, please contact the BEDC.
Economic Development for a Growing Economy (EDGE): a refundable tax credit program that rewards companies creating jobs and contributing to the growth of Indiana’s economy. EDGE credits are calculated as a percentage of payroll tax withholding for net new Indiana jobs. EDGE credits may be awarded for a period of up to 10 years. Learn more
Hoosier Business Investment Tax Credit (HBI): This program encourages capital investment in Indiana by providing a credit against a company’s Indiana tax liability. The credit amount is based on a company’s qualified capital investment with the final credit amount determined by the Indiana Economic Development Corporation, based on an analysis of the economic benefits of the proposed investment. Learn more
Headquarters Relocation Tax Credit: When a business relocates its corporate headquarters (defined as the location of the principal office of the principal executives) to Indiana, it is entitled to a credit against its state tax liability equal to half of the costs incurred in relocating the headquarters. A company must have worldwide annual revenue of at least $100 million to qualify. Learn more
Venture Capital Investment Tax Credit: The Venture Capital Investment Tax Credit was established to improve access to capital to fast-growing Indiana companies by providing individual and corporate investors an additional incentive to invest in early stage firms. Investors who provide qualified debt or equity capital to Indiana companies receive a credit against their Indiana income tax liability. Learn more
Industrial Recovery Tax Credit: The Industrial Recovery tax credit provides an incentive for companies to invest in facilities requiring significant rehabilitation or remodeling expense. After a building has been designated as an industrial recovery site, companies may be eligible for a tax credit calculated as a percentage of qualified rehabilitation expense. Learn more
R&D Tax Credit: The R&D tax credit provides a credit against state tax liability for qualified company research expenses. Learn more
Patent Income Exemption: Certain income derived and earned from qualified patents by a taxpayer are exempt from taxation. Qualified patents include utility patents and plant patents. Eligible taxpayers must be domiciled in Indiana and be an individual or corporation with not more than 500 employees. Learn more
R&D Sales Tax Exemption: There is a 100 percent sales tax exemption for qualified research and development equipment and property purchased. Learn more
Tax-exempt Bonds: These debt instruments, often called Private Activity Bonds, Industrial Revenue Bonds or Industrial Development Bonds, are issued by state or local governmental entities for the benefit of a private company, usually manufacturers. Interest on the bonds is generally exempt from federal income taxes for investors, which typically results in lower long-term interest rates to the borrower. Learn more
Skills Enhancement Fund: The Skills Enhancement Fund (SEF) provides financial assistance to businesses committed to training their workforce. Trainees must be Indiana residents. SEF reimburses eligible training expenses over a two-year term. Companies may reapply for additional SEF funds after their initial two-year term. Companies can receive reimbursements up to $200,000 for retraining existing workers. Supplemental grant awards may be available for training new employees. Learn more
Next Level Employer Training Grant: This grant provides financial assistance to employers in any high demand business sectors and can be reimbursed up to $5,000 for each newly-trained employee, hired and retained for 6 months. Learn more
Industrial Development Grant Fund: This grant provides money to local governments for off-site infrastructure projects associated with an expansion of an existing Indiana company or the location of a new facility in Indiana. State funding through the IDGF program must be matched by a combination of local government and company financial support. Learn more
Small Business Innovation Research Initiative: The Small Business Innovation Research (SBIR) and its sister program, the Small Business Technology Transfer program (STTR), are highly competitive and encourage small businesses to explore their technological potential. SBIR/STTR funding is available from 11 participating agencies throughout the United States and focuses on various technological areas. Learn more
Capital Access Program: The Capital Access Program (CAP) is a small business credit enhancement program that creates a specific cash reserve fund for the lender to use as additional collateral for loans enrolled in the Program. CAP allows lenders to consider loans that might not meet conventional lending requirements. Learn more
Foreign Trade Zone: The FTZ program helps American companies improve their competitive position versus their counterparts abroad. The FTZ program allows U.S.-based companies to defer, reduce or even eliminate Customs duties on products admitted to the zone. Learn more
Community Revitalization Enhancement District (CRED): This program encourages capital investment and jobs creation within a Community Revitalization Enhancement District (CRED). The CRED allows the City of Bloomington to capture increased sales and income tax dollars, generated by new investment within the CRED, to use for economic development purposes. These revenues have been used for infrastructure improvements or to reimburse capital investments made by businesses developing within the CRED. A taxpayer who makes an qualified investment within the CRED is eligible for a tax credit toward a taxpayer’s state and local income tax liability. The credit is equal to 25 percent of the qualified investment made by the taxpayer. The City of Bloomington operates two of these districts, one in the downtown area and the other in a growing employment center.
Urban Enterprise Zone: By contributing to economic growth in the area, businesses and non-profit corporations located within the Enterprise Zone are eligible for several state tax benefits. View an enterprise zone map. Tax incentives for enterprise zone businesses include:
- Enterprise Zone Investment Deduction (EZID): The EZID is a 79 percent, 10-year deduction on the increased property taxes resulting from the increased property value within the Bloomington Urban Enterprise Zone (BUEZ) following a qualified investment.
- Investment Cost Credit: An individual purchasing an ownership interest in a Zone business may be eligible to receive a tax credit of up to 30 percent of the purchase price.
- Loan Interest Credit: A taxpayer may take a credit of 5 percent of the interest income received from a qualified loan made to a Zone business or resident. The loan must apply to purposes directly related to the business or increase the assessed value of real property in the Zone.
Duke Energy Economic Development Incentive: The Economic Development Incentive (also known as Rider 58) will allow a 5-year reduction on the Duke Energy electric bill – up to 30% depending on qualifying factors- for any new or additional load associated with an economic development project. Learn more
Tax Abatement: The City of Bloomington and Monroe County have elected to provide tax abatement for both new and existing companies that are creating jobs, retaining jobs and making a new investment in real and/or personal property. Under state law, local governments have the option of granting tax abatement for up to 10 years. On average, tax abatement can provide nearly 50 percent savings from property taxes over the life of the abatement.
Tax Increment Financing: Monroe County is home to some of the most successful Tax Increment Financing (TIF) districts in Indiana. The City of Bloomington and Monroe County have invested millions on infrastructure improvements to help companies grow and create jobs. Exciting opportunities are on the horizon of Monroe County’s newest TIF located at the corner of Highway 37 and Highway 46.
- Indiana Economic Development Corporation lists all available State Incentives.
- City of Bloomington Department of Economic and Sustainable Development has all news for City incentives.
Top 20 Employers
|Indiana University – Bloomington||Education||10,017|
|Cook Group||Life Sciences – Medical Devices||4,126|
|Indiana University Health – Bloomington||Health care||2,300|
|Monroe County Community School Corporation||Education||2,174|
|Kroger Supermarkets||Retail – Supermarkets||1,056|
|Baxter BioPharma Solutions||Life Sciences – Pharmaceuticals||880|
|City of Bloomington||Government||755|
|Catalent Biologics||Life Sciences – Pharmaceuticals||750|
|Ivy Tech Community College||Education||552|
|Crider & Crider Inc.||Construction||452|
|Richland-Bean Blossom Community School Corporation||Education||430|
|Stone Belt ARC||Social Services||362|
|LJM Enterprises||Health Care services||330|
|Centerstone||Health Care & Social Services||290|
|One World Enterprises||Retail – Restaurants||244|
|IU Credit Union||Financial Services||205|