Economic Impact of a Mixed-Use Development Project In Bloomington, Minnesota

Abstract

A new project of mixed-use development of condos, hotel, restaurants, coffee shop, and retail is proposed for Bloomington, Minnesota. The impacts for the following area or regions were modeled: the State of Minnesota; a 13-county Twin Cities metro area (Hennepin, Ramsey, Dakota, Anoka, Washington, Wright, Carver, Chisago, Goodhue, Rice, Scott, Sherburne, and Isanti Counties); a 3-county sub-set of Hennepin, Ramsey and Dakota Counties; and targeted zip codes including 13 zip codes in Hennepin County. Landmark Research, Inc. provided the UMD Labovitz School's research bureau (BBER) estimated employment and sales for construction and operations phases of the project. The mixed-use development project proposed includes new activity in the following IMPLAN sectors: 481 Restaurant; 479 Hotel; 481 Hotel Restaurant; 445 Retail food; 448 Retail Clothing; 453 Retail Misc.; 487 Health and Personal Care; and 418 Movie Theatres.