The economic well-being of Monroe County and its surroundings undoubtedly receives a boost from Indiana University Bloomington's presence.

Take a look at these recent figures:

• IU Bloomington employs 7,500 area residents and is the area's largest employer.
• The IU payroll for residents of Monroe County is $360 million annually.
• IU Bloomington purchases over $104 million a year in goods and services from Indiana vendors
• During the 2006 football season alone, visitors to IU Bloomington will contribute more than $25 million to the local economy.

To keep these impressive numbers rolling and to identify new ways to strengthen IU/Monroe County economic development, city, county, IU, and business leaders formed the Indiana University/Bloomington Business Partnership (IUBBP) in 1998.

Sponsored by the Bloomington Economic Development Corporation, IUBBP promotes legislative advocacy efforts for IU and the people of Monroe County. The partnership seeks to enhance IU's campus to expand critical research and development investments throughout the community. The partnership also allows IU to assist the community as priority projects are identified for state and federal support. Lee Marchant, of LJM Enterprises in Bloomington, chairs IUBBP.

In its short tenure, IUBBP has worked closely with state officials on funding economic development initiatives that advance both university and community needs. Some recent projects include:

The establishment of a new cancer treatment center at the IU Cyclotron Facility called the Midwest Proton Radiotherapy Institute (MPRI). Proton therapy offers potential for eradicating cancer cells with fewer side effects and without significantly damaging surrounding tissue, particularly in the treatment of small lesions or tumors close to critical organs.

The Bloomington Urban Rail Project, which calls for the city’s acquisition of rail lines, and relocation and development of a state-of the-art transload/switch facility within the city’s industrial corridor. The city has proposed that the former McDoel Switch Yard would then be turned into a new urban park with pedestrian/bike trails connecting to existing trails to the south. The project would permit Bloomington to eliminate freight traffic through the city’s urban core, turn a 100-year-old switch yard into a community asset, and create a modern transload facility.

The Bloomington Technology Incubator (BTI), which will offer start-up companies a customized package of management, financial, and technical assistance services; provide shared equipment and support; and provide access to state-of-the-art conferencing facilities and office space at reasonable rates. BTI’s mission is to facilitate the development of emerging technology companies in order to create jobs, diversify the economy, build an infrastructure of continued growth, and provide educational value to area students, faculty, and residents.

Funding for a new research building on the Indianapolis campus of the IU School of Medicine and for the development of state-of-the-art technologies at IU to accomplish the objectives of the Indiana Genomics Initiative (INGEN) and allow IU to remain competitive in biomedical research. INGEN links medical research and basic science in the study of the human genome. Building on a $105 million grant from the Lilly Endowment and the genetic map published by the Human Genome Project, INGEN scientists are searching for the genetic factors that play a role in virtually every disease.

The Center on Congress at Indiana University, which will develop programs to educate the public on the importance of citizen participation in the U.S. democracy. One program will be a two-part documentary for the Public Broadcast Service detailing the work of members of Congress, what they do, how they do it, the importance of their work, and its impact on U.S. citizens.

For more information on economic development:

Bloomington Economic Development Corporation

City of Bloomington: Economic Development

Greater Bloomington Chamber of Commerce

Ellettsville Chamber of Commerce