Monroe County’s Private Sector Powers Ahead

By Jennifer Pearl, President, BEDC

Monroe County is at a turning point for economic vitality. While recent data shows a sharp decline in local wages, our private sector is proving remarkably resilient. As national competition for jobs and investment intensifies, Monroe County’s leaders are doubling down on readiness, speed, and workforce strength to position the region for its next wave of growth.

Economic Pain… but Private Sector Resilience

The data makes the urgency clear. 

Bloomington’s real hourly earnings dropped 6.2% from August 2024 to August 2025 in the metropolitan statistical area of Monroe and Owen Counties, according to Dr. Phil Powell of the Indiana Business Research Center. Declines were largely tied to Indiana University, driven by cuts to research funding and broader skepticism toward higher education. 

Statewide, local governments have faced new revenue strains under Senate Enrolled Act 1. Monroe County’s working-age population has declined. Local incomes sit at 78 percent of the US median while living costs are 99 percent of average. Meanwhile, streamlined development and modernized policies are key to unlocking the growth that will sustain and strengthen our community.

Despite these challenges, Monroe County’s private sector has shown resilience. Business startups have exceeded state and national averages, and new life science investments are fueling optimism, according to Dr. Powell.

Our Competitors Show a Way Forward 

Across the country, economically vibrant regions are landing new employers and investment based on execution-focused strategies. The top performing states are Georgia, Texas, North Carolina, and Ohio, according to Area Development’s 2025 Top States for Doing Business rankings. They are landing economic development projects based on fast and transparent permitting, site readiness, infrastructure, and available talent. And in 2026? Area Development says top states will be defined by quick execution of economic development projects. 

A Call to Action  

We have seen what collaboration can accomplish. Since 2020, BEDC-supported projects have delivered commitments of over 900 jobs and $1 billion in new capital investment, generating a $289 return to the community for every $1 invested in the BEDC. 

These projects include major investments from companies like Simtra, Novo Nordisk, PHOENIX, and Bloomington Regional Rehabilitation Hospital. They have brought higher wages and revitalized former industrial sites like GE, Otis Elevator, and RCA/Thomson into thriving employment centers.

Inspired by our competitors and building on this momentum, the BEDC has launched Blueprint for the BOLD, a forward-looking initiative designed to align public and private partners and position Monroe County as a true regional hub for innovation and opportunity.

We are positioning Monroe County as a great destination for business growth by enhancing site readiness and targeting high-growth industries. Our target sectors include aerospace, defense, life sciences, manufacturing, and technology. Global trends such as AI, automation, reshoring, and defense modernization drive demand in these industries, which are backed by competitive wages. 

With 260,000 square feet under roof and 1,000 acres of greenfield sites available, the county is primed for business attraction. Sites at the Monroe County Airport and Trades District stand out as focal points for defense and tech growth, while Ellettsville and I69/Fullerton Pike offer promising sites that can also apply to life sciences and manufacturing. 

The BEDC also partners with employers and higher education to ensure talent and opportunity connect. We connect employers with training programs and funds, while convening executives and HR leaders to share best practices in advancing our talent pipeline.  

Together, these initiatives form the backbone of Monroe County’s economic future—one that aligns strategic investment with workforce empowerment to ensure regional competitiveness.

Other communities have shown the power of united public-private leadership, but Monroe County’s path will be uniquely its own. What we need is the courage to act together, building trust across sectors to create a thriving community where opportunity and innovation meet. We hope you will join us to shape Monroe County’s next era of inclusive growth and lasting prosperity. Contact us through bloomingtonedc.com to get involved and learn how we help our employers grow.