An economist from the Kelley School of Business has emphasized the need for Bloomington to broaden its economic foundation, which currently relies heavily on Indiana University (IU). While IU remains a major driver of employment and local investment, overdependence on a single institution poses long-term risks, especially in times of enrollment decline or state funding cuts. The expert suggests fostering growth in technology, life sciences, and entrepreneurial ventures to create a more resilient economic structure. Initiatives such as expanding startup incubators, attracting venture capital, and strengthening partnerships between academia and private industry could help stimulate job creation in new sectors. Diversification would not only reduce vulnerability but also position Bloomington as a more dynamic regional hub. Such strategic development could enhance income levels and attract a broader demographic of skilled professionals.
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Kelley School economist: Bloomington economy should diversify beyond IU WRTV