Berwyn Development Corporation 2021 Quarter 3 Report

2021

QUARTERLY REPORT 3RD QUARTER | JULY-SEPTEMBER

3322 S Oak Park Ave, 2nd Fl | Berwyn, IL 60402 (708) 788-8100 | info@berwyn.net | Berwyn.net @BerwynDevelopmentCorporation @Berwyn Development Corporation

2021 TIMELINE JULY-SEPTEMBER

JULY

BDC's Nonprofit Roundtable BDC’s Economic Development Commission Meeting Kiwanis Luncheon Illinois Restaurant Association Webinar – How to Utilize the Work Opportunity Tax Credit BDC’s After Hours Wine Pairing at La Parra Restaurant LAI Group Event BDC’s Women in Business Monthly Meeting U.S. EDA Webinar – EDA 101 and American Rescue Plan Overview BDC’s Commercial Loan Commission Meeting Taste of Cermak Road Presented by Mayor Robert J. Lovero Grand Opening Celebration of Olga A Mendez DDS and Associates Your BDC Membership + Marketing Opportunities!

BDC's Nonprofit Roundtable Approval of a lease agreement between the BDC and the City of Berwyn

AUGUST

Funding for the creation of Project Homegrown retail incubator at 6931 Roosevelt BDC Women in Business Monthly Meeting Business Corridor Roundtable: Cermak/Harlem Economic Development Commission Meeting Launch of Illinois DCEO Back 2 Business Grant Portal Berwyn Car Parade

SEPTEMBER

Back2Business Pop-up at La Lupita BDC Women in Business Monthly Meeting Back2Business Pop-up at Juice Vibe Bar BDC’s Nonprofit Roundtable Monthly Meeting Loyola Medicine Presents - Berwyn’s Oktoberfest Business Corridor Roundtable: Roosevelt Road Back2Business Pop-up at ATAX DCEO Webinar – Tips for Funding Your Business Your BDC Membership + Marketing Opportunities!

COVID-19: Vaccination Mandates in the Workplace

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LETTER FROM THE EXECUTIVE DIRECTOR As the Executive Director of the Berwyn Development Corporation (BDC), I would like to welcome you to our 3rd Quarter Report for 2021. Within this report you will find valuable information on how the BDC has contributed to economic development in the City of Berwyn.

Q3 of 2021 continued the progress of business reopening, with a few hiccups. When health and safety guidance changed, we promptly shared information with businesses and residents alike. Despite the pandemic receding, we still found it crucial to connect our businesses with all available financial resources.

We worked diligently to inform the community of the new Back 2 Business Grant through the Illinois Department of Commerce and Economic Opportunity. BDC staff conducted corridor walks, pop-up events, and three separate business corridor roundtables in Q3. Combined with e-blasts, phone calls, and social media posts, we directly shared information more than 719 times to existing businesses in the community.

DAVID HULSEBERG

As with the beginning of the year, we saw continued interest in Berwyn properties in Q3 of 2021. Given the pent-up demand in the commercial market, we saw a significant increase in requests for information. We responded more than 50 times to interested parties, more than double the activity of Q2.

BDC staff will continue leveraging financial tools such as the Commercial Loan, Microloan, and EDA Revolving Loan Fund programs to ensure access to finance for new businesses and longtime Berwyners alike.

The BDC also continued offering our Finish Line Grant and Pay As You Go Programs in our Roosevelt, Depot, and Harlem/ Cermak TIF districts. The BDC committed $285,160.57 in Finish Line Grants though Q3 of 2021, adding more than $200,000.00 in commitments in Q3 alone. These commitments represent 11 projects and 6 marketing grants. We look forward to closing out 2021 strong, with more than $125,000.00 additionally in the pipeline for prospective projects.

Quarter 3 of 2021 continued the momentum of the first half of the year, with marked increases in both business attraction and retention efforts. The BDC will continue connecting the Berwyn community to resources by any means possible. We look forward to finishing this year stronger than ever.

Sincerely, David Hulseberg

BDC PROJECTS The Berwyn Beat Newsletter E-Blast Launch date: September 3, 2020

The Berwyn Beat is a weekly newsletter targeting residents and visitors of the Berwyn Area. Each week highlights a different topic that encourages local spending. It gives us another opportunity to engage and support members as we share their seasonal offerings and services. The newsletter also includes a "coupon" section that allows us to share their deals/specials.

Subscribers: 1,560 Click Through Rate:

JULY: 12% AUG: 12% SEP: 12% *Average email benchmark click through rate rate for all industries in 2020 was 11% according to Constant Contact.

Average Open Rate:

JULY: 28% AUG: 28% SEP: 29% *Average email benchmark open rate for all industries in 2020 was 18% according to Campaign Monitor.

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BERWYN DEVELOPMENT CORPORATION WITH THE CITY OF BERWYN

CONTRACT

A. Business Attraction (New Business Prospects) a. The BDC provided information to 50 new business prospects on land, buildings, demographics, labor force, housing, education, infrastructure, and other relevant information. c. The BDC agreed to perform the following business attraction services to aid prospective businesses and developers: i. BDC staff reviewed existing incentive programs to make recommendations and provide feedback from the development community. The BDC continued tracking feedback by way of commercial transfer stamps, business licenses, and building permit touches. This information provided is provided to the City of Berwyn by way of the Vacant Properties Report and Building Permit Report on a semi-annual basis.

1. The BDC continued to market the Finish Line Grant Program in Berwyn’s Roosevelt, Harlem, and Depot TIF Districts. In 2021, the BDC set aside $250,000 in the Roosevelt TIF, $250,000 in the Harlem TIF, and $150,000 to the Depot TIF. a. The BDC committed $285,160.57 in Finish Line Grants though Q3 of 2021 2. In response to the Covid-19 pandemic, the BDC continued the Finish Line Marketing Program for 2021 to assist with marketing costs and business transitions.

B. Business Retention and Expansion (Existing Business Prospects) b. The BDC retention program identified the needs of existing businesses in the following ways: i. The BDC provided information 719 times to existing businesses on economic, demographic, or commercial real estate. Some businesses were contacted with multiple touches, hence the large amount of retention information shared. The primary focus in Q3 2021 was reopening resources. The largest new focus was the Back 2 Business grant through the Illinois Department of Commerce and Economic Opportunity. ii. The BDC updated information on Berwyn’s economic profile, including the available properties map, vacancy information to aldermen, and sales tax data in our annual and quarterly reports. The BDC website was also updated to reflect change in resources and policies from national, state, and local guidance. iv. The BDC continued to maintain a database of all Berwyn businesses and work with the Permit Administrator to revamp the City business license process. v. The BDC conducted 3 business corridor roundtables in Q3, including the Depot District, Harlem/Cermak TIF District, and Roosevelt Road.

C. Miscellaneous c. The BDC operates the Commercial Loan, Microloan, and EDA Revolving Loan Fund pools to assist community businesses with financing options.

OPC Kicks revieved 13,600 Finish Line Grant

La Lupita recieved a Pay as You Go Incentive

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SOCIAL MEDIA & MARKETING REPORT E-BLAST MARKETING RESULTS

CONSTANT CONTACT E-BLAST SUBSCRIBERS

AVERAGE OPEN RATE:

AVERAGE CLICK-THROUGH-RATE:

28%

5,366

WHY BERWYN SOCIAL MEDIA RESULTS

12%

FACEBOOK

INSTAGRAM

14.3K PAGE LIKES

4.1K FOLLOWERS

SOCIAL MEDIA REACH: FACEBOOK

INSTAGRAM

25K

0

JULY

AUG AVERAGE FACEBOOK ENGAGEMENT RATE (AVG <1%)

12%

HIGHEST PERFORMING FB POST IN Q3:

247 LIKES 29 COMMENTS 6,964 IMPRESSIONS

3,745

18,507

3,402

5K

18,594

10K

4,039

15K

19,285

20K

SEP AVERAGE INSTAGRAM ENGAGEMENT RATE (AVG IS 1.22%)

8%

HIGHEST PERFORMING IG POST IN Q3:

192 LIKES 7 COMMENTS 1,925 IMPRESSIONS