Future Advantage

Throughout its history, the Bloomington-Normal Metro Region has enjoyed economic stability and prosperity.  McLean County's rich and productive agricultural base, two outstanding health care systems, Mitsubishi Motors and its suppliers, COUNTRY Financial's headquarters and affiliate firms, and the community's thousands of small-to-medium-sized enterprises all have contributed to the community's economic stability and vitality.

In today’s globalized world, the factors that once drove economic prosperity have changed, compelling a new “world order” of economic development which directly impacts every community in America – including Bloomington-Normal.  Intensifying global competition for jobs and private capital investment, a rapidly ascending global middle class and the ubiquity of mobile devices and instantaneous connectivity represent powerful megatrends that are irrevocably changing the way in which business is done and lives are lived in the U.S. and in every country spanning the globe.

For the Bloomington-Normal Metro Region, which is blessed with world-class community and economic assets, these global megatrends may seem distant and perhaps even irrelevant. But as we continue to progress into global economic integration and eventual full economic recovery, no community will be immune to the benefits (and potential downsides) of these megatrends.  Why?  Because these and other dynamics are changing the way in which employers and entrepreneurs are making decisions as to where to invest their capital, innovate new services and products, locate new facilities and create new jobs.

While the region’s economic performance throughout the Great Recession and ensuing economic recovery has been admirable, communities across Illinois, throughout the nation, and around the world have been gearing up to be well-positioned for the best talent, new jobs, new technologies and new opportunities that inevitably will emerge in the next several years. 

Today, communities need to intently focus on creating the environments that business and talent expect and demand in today’s world while capitalizing on the best and most advanced employment and earnings opportunities in the short and long term.  That is the nexus where Bloomington-Normal and global megatrends meet:  Bloomington-Normal needs to be that advantageous position to successfully deliver the type of environment that firms seek for their startups, existing and new operations, and employees.  How can the Bloomington-Normal Metro Region ensure that it remains at the forefront as one of the most desirable communities in Illinois, the U.S. and the world?  By ensuring that it remains focused on creating the best possible economic future and quality of life for the community, its residents, and both current and future employers in the 21st century. 

Just as all that Bloomington-Normal is today reflects generations of hard work by its public, private, and civic leaders - all that Bloomington-Normal can and will become requires even greater strategic vision and more arduous work because the proven methods of what has worked in the past are dramatically different than those that drive economic development and prosperity in today’s globalized world.   Many communities in the U.S. and around the world aspire to achieve the quality of life and business climate that Bloomington-Normal presently offers to its residents and businesses. To these ends, in September, 2014, the Bloomington-Normal Metro Region commissioned an economic development and market strategy to help elevate and advance the community’s economic competitiveness and growth.

Five organizations have joined together to drive this initiative: McLean County Regional Planning Commission, McLean County Chamber of Commerce, Economic Development Council of Bloomington-Normal, Bloomington-Normal Convention and Visitor’s Bureau (Bloomington-Normal Area Convention and Visitors Bureau), and the Bloomington-Normal Airport Authority.

It is extraordinary that multiple organizations in any region would combine their collective knowledge, resources and organizational will to create a collaborative economic development strategy, and even more exceptional that they would embark on this enterprise in unison.

With a clear mandate to sustain, strengthen and grow the region’s economy, these five partner organizations are providing strong and focused leadership in this critical endeavor.