Port Authority of the City of Bloomington (MN ) – Economic Development Strategic Plan

Challenge

Created in the 1980s to manage the transformation of a former stadium into the Mall of America, the Port Authority of the City of Bloomington Minnesota (the Port Authority) has seen its role in the city’s economic development efforts expand greatly over time. First, the organization’s purpose was redefined to include other projects in the South Loop District, and in 2023 its jurisdiction was extended to encompass the entire city. The Port Authority has also added new programmatic responsibilities including small business services, creative placemaking, and technical assistance on large affordable housing developments. With its citywide footprint and new focus areas, the Port Authority must evolve to support new operating dynamics and an expanded set of constituencies.

Response

In early 2024, city leaders engage TIP Strategies to prepare a forward-looking economic development strategic plan (EDSP) that would address current economic conditions and elevate Bloomington’s standing in the Minneapolis-Saint Paul (MSP) region. An in-depth analysis of its competitive position (presented as an interactive data visualization, Bloomington Economic Development Analysis), and an extensive stakeholder outreach effort provided a deep understanding of the characteristics that define the city. Building on this qualitative and quantitative research under the guidance of a 14-member steering committee, four themes for the EDSP emerged: (1) ensuring that growth is equitable and inclusive; (2) accommodating the needs of existing and future business, including by modernizing commercial and industrial spaces in key commercial nodes; (3) creating thriving places that are attractive to businesses, residents, and visitors; and (4) clearly articulating Bloomington’s story and its important role in the MSP region. These themes informed the plan’s economic vision statement and a set of guiding principles which together became the foundation of the EDSP’s strategic framework. The plan’s eight objectives align with these guiding principles, creating a unified and purposeful approach to directing investments and developing strategic actions. A staffing plan, published separately, offers guidance on the resources required to carry out the recommendations and potential metrics for gauging success. The Port Authority’s newfound ability to deploy its tools and resources citywide will allow it to fully leverage Bloomington’s advantages, including its strategic location, robust infrastructure, rich cultural assets, and traded sector strengths (marked by the city’s leading role in Minnesota’s semiconductor industry). By aligning the Port Authority’s efforts with other city departments and local and regional partners, the EDSP will help build a resilient and inclusive economy that benefits all members of the community.