Business and Economy

People who buy homes and cars aren't the only ones paying higher interest rates on loans. City of Bloomington residents will pay more as well.

Illinois Wesleyan University has unveiled a new Bloomberg Finance Lab. It is a computer financial analysis system students will use. Accounting Department Chair Robert Irons said he hopes real world experience will help students after they graduate.

The City of Bloomington will consider a development incentive package that would allow a game store to expand in downtown.

The mayor of Normal supports offering economic development incentives for the Trail East and West projects. The town is negotiating a development agreement with Cedar Falls, Iowa-based Eagle View Partners.

Pontiac residents and community leaders are worried. The Illinois Department of Corrections moved 171 medium-security inmates from the Pontiac Correctional Center to other prisons early this year, and the fear is the rest of the prison built in the 1870s will shut down, too.

There have been anecdotal reports of a housing shortage in Bloomington-Normal for years. Now, the Bloomington- Normal Economic Development Council has a new analysis that shows the shortage is significant and has grown since the last study done five years ago.

The discussion over a potential Connect Transit bus transfer center on the site of the current city-owned parking deck on Market Street opens a couple of possibilities for the city.

A lot of work has to happen quickly to determine whether the Market Street Parking Deck in downtown Bloomington will be a good fit for a Connect Transit bus transfer center.

Town of Normal staff have recommended the council choose an Iowa development company to build the $50-60 million Trail East and Trail West projects in Uptown.

The union representing building, grounds, and food service workers at Illinois State University said Thursday evening it has reached a tentative contract agreement with the university.