PEORIA, Ill. — The Peoria City Council approved the declaration of a nine-block Innovation District in downtown Peoria to jumpstart economic activity in the area.
The district is part of the Central Business District. It is bordered by Main, Water and Harrison streets in Jefferson Ave.
Peoria city officials hope to follow the example of other cities like Chattanooga, St. Louis, and Cincinnati that have defined innovation districts to encourage innovation and economic growth.
According to Brookings, An innovation district is defined as a place-based urban development strategy that aims to regenerate an underperforming downtown neighborhood into a desirable location for innovative and creative companies and workers. They also work to support metropolitan economies by growing jobs in ways that leverage their distinct economic attributes.