Page last updated on April 5, 2023 at 4:54 pm
There are two Community Redevelopment Economic Districts: Downtown CRED District and Thompson CRED District.
The districts allow the City of Bloomington to capture increased sales and income tax dollars generated by new business investment within the area and to use the funds for economic development purposes within the District. By using these incremental revenues, the City undertakes projects such as the creation of new infrastructure and beautification of the area. The City of Bloomington's Industrial Development Advisory Commission administers programs in two of these districts, one in the downtown area and the other in an industrial area south of the downtown.