Columbus and Bloomington are announcing a partnership to “amplify entrepreneurial activity and boost economic growth” in both cities.

The Columbus Area Chamber of Commerce will be working with Dimension Mill Inc. as regional partners. They will be working together to obtain funding from Elevate Ventures, an Indianapolis-based organization that encourages co-working and entrepreneurship in early stage companies in the two cities.

The partnership plans to raise $1 million to receive a matching $1.5 million grant from Elevate. After that, Elevate would  provide entrepreneurial expertise, host events for entrepreneurs and investors and provide a network of professional services and resources for the partnership.

Dimension Mill, Inc. is a not-for-profit organization that will operate The Mill, a renovated facility in Bloomington’s Trades District and Certified Tech Park.  The Mill is slated to launch on Nov. 15th and will serve as a community co-working space, business incubator, and innovation hub for  Bloomington .

Columbus Mayor Jim Lienhoop and Bloomington Mayor John Hamilton announced the partnership today during a Facebook Live video, along with Cindy Frey president of the Columbus Chamber and Pat East, executive director of The Mill.

The joint venture will be overseen by a joint committee consisting of two representatives each from Bloomington and Columbus, and one from Elevate Ventures.

The official launch of the partnership  will be at 5 p.m., Dec. 6th at Hard Truth Hills in Nashville.