Berwyn Development Corporation: 2024 Q1 Report

2024 JANUARY-MARCH

TIMELINE

Back to Business Grant – Webinar

Economic Development Commission Meeting

BDC Annual Meeting

Publication of the BDC’s Annual Report

Jury Committee Selected – Berwyn Shops Event

3 Berwyn Sprout Vendor Events

Cook County Small Business Source 2024 BSO Kickoff

Cook County and BDC Pulse Check

JANUARY

2024 Berwyn Economic Recovery and Resilience Plan Accepted

Renewal of Finish Line Grant in Harlem, Roosevelt, and Depot TIF Districts

Commercial Loan Submitted to Advantage IL

FEBRUARY

2023 Cohort Graduation – Berwyn Shops Event

Vendor Selection Day – Berwyn Shops Event

Vendor’s First Visit on Site - Berwyn Shops Event

2024 Cohort Orientation – Berwyn Shops Event

Open House – Berwyn Sprout Event

6 Berwyn Sprout Vendor Events

Economic Development Commission Meeting

Women in Business Monthly Meeting

The Pile Bookstore Grand Opening

Sterling & Knight Jewelry & Pawn Grand Opening

Tax Increment Financing Joint Review Board Meetings

Cook County Source Grant Press Event

MARCH

2024 Vendors Announced – Berwyn Shops Event

Item Swap and Inventory Day – Berwyn Shops Event

4 Berwyn Sprout Vendor Events

Women in Business After Hours

BDC's Nonprofit Roundtable

Chers Rendezvous Grand Opening

Foodservice Sanitation Manager Certification Class

Economic Development Commission Meeting

Business Roundtable: Depot District

Berwyn Magazine Issue 1 Published

Collab 4 Kids Check Presentation – Philanthropic Grant

BISB Social Media Internship Kick Off

Berwyn Boutique Info Session

Cook County and BDC Pulse Check

LETTER FROM THE EXECUTIVE DIRECTOR

As the Executive Director of the Berwyn Development Corporation (BDC), I would like to welcome you to our 1st Quarter Report for 2024. Within this report you will find valuable information on how the BDC has contributed to economic development in the City of Berwyn.

2024 started off in celebration with the successful graduation of the entire 2024 Berwyn Shops cohort. All 12 entrepreneurs demonstrated passion and dedication to their businesses, attending trainings, expanding their product lines, and hosting dynamic events while on Roosevelt Rd. Once again, congratulations to the graduates and a big thank you to our partners for their continued support!

Beyond Project Homegrown, Berwyn businesses saw the return of timely financial resources in Q1. For example, the BDC increased the 2024 Finish Line Grant budget to $625,000 with the support of the City of Berwyn. This program assists businesses and property owners with interior and exterior renovation projects in our three TIF districts – Roosevelt, Harlem/Cermak, and the Depot District. In 2024 thus far, over $140,000 have been committed to 3 projects. The application will remain open until mid-December!

In addition to the Finish Line Grant, the BDC amended the Berwyn Revolving Loan Fund (RLF). Backed by a $2 million EDA grant and a $500,000 contribution from the City of Berwyn, this program enables the BDC to lend $65,000 to a local business owner for every job retained or created. The RLF, along with the Advantage IL designation, bolsters the BDC’s commercial lending pool and helps to makes sure that historically underserved entrepreneurs have access to financing options. In Q1, we have already received approval to commit Advantage IL dollars to an active loan, as well as extend the amended RLF until April 2025!

To ensure that the Berwyn community obtains much-needed resources, the BDC continues to connect business owners to educational opportunities, tailored advising, and grant assistance. For example, the team hosts one-on-one grant application sessions to help business owners apply for available funding. In Q1, $710,000 was awarded to 39 Berwyn businesses for the Cook County Source Grant and $40,000 was committed to 2 Berwyn businesses for the IL DCEO B2B Grant.

Finally, the team works with other business support organizations, like the Illinois Restaurant Association, to offer unique training opportunities. For example, the IRA and BDC partnered in Q1 to facilitate a Foodservice Sanitation Class – 94% of the attendees passed the certification exam!

Overall, we are proud of the Berwyn community and we hope this momentum continues throughout the rest of 2024! Sincerely,

David Hulseberg

BERWYN’S NEW COMMUNITY STRATEGIC PLAN

In January, the Berwyn City Council accepted as informational the new 2024 Berwyn Economic Recovery and Resilience Plan. Funded by the RISE grant, this updated plan seeks to understand the current economic priorities, as well as identify the key opportunities, of the Berwyn community given the drastic changes to its economy in recent years.

Specifically, consultants interviewed industry leaders in Berwyn, conducted a bilingual survey, and held 3 community strategic planning meetings. Throughout this process, 5 key themes were identified:

VACANCY PROGRAM

In collaboration with the City of Berwyn, the BDC administers the Vacancy Program. This program requires all vacant property owners to register, hold proper insurance, and have a plan for their spaces. Since the Vacancy Ordinance was implemented in 2023, all 126 vacant properties were inspected, 21 registered, and 50 became occupied!

Infrastructure & Community Cleanliness, Community Engagement, Economic Development, Housing, and Video Gaming and Smoke Shops. Scan the QR code to read the plan!

For more information, and to view the latest vacancy data, visit: www.berwyn.net/vacancy-tracking OR scan the QR code!

CONTRACT

A. Business Attraction (New Business Prospects)

a. The BDC provided information 155 times to new business prospects on land, buildings, demographics, labor force, housing, education, infrastructure, and other relevant information.

b. 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 is provided to the City of Berwyn by way of the Vacant Properties Report and Building Permit Report on a semi-annual basis.

ii. The BDC continued to market the Finish Line Grant Program in Berwyn’s Roosevelt, Harlem, and Depot TIF Districts. In 2024, the BDC set aside $250,000 in the Roosevelt TIF, $250,000 in the Harlem TIF, and $125,000 to the Depot TIF.

a. The BDC committed $140,000 in Finish Line Grants to 3 projects throughout Q1 of 2024.

B. Business Retention and Expansion (Existing Business Prospects)

a. The BDC retention program identified the needs of existing businesses in the following ways:

i. The BDC provided information over 14,123 times via email and phone 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 Q1 of 2024 was connecting businesses to educational opportunities and sharing financial resources, such as the Sanitation Class, Advantage Illinois Loan Program, and Made in IL Grant.

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.

iii. The BDC continued to maintain a database of all Berwyn businesses and work with the Permit Administrator to collect business licenses.

iv. The BDC conducted over 2 corridor walks, 2 educational seminars, and 1 business corridor roundtables. The roundtables focused on the Central Berwyn and all Berwyn businesses.

C. Miscellaneous

a. The BDC operates the Commercial Loan and Microloan pools to assist community businesses with financing options. The BDC also partners with the IL DCEO and the US EDA to offer the Advantage IL Loan Program and the Revolving Loan Fund, respectively.

b. The BDC celebrated the successful graduation of the entire 2023 Berwyn Shops cohort, as well as accepted applications for the 2024 season. During Q1, both the 14 jurors and the 12 new vendors were selected. Furthermore, the BDC onboarded new vendors and supported more than 15 events at Berwyn Sprout.

c. The BDC renewed its contract as a Community Navigator with the Cook County Small Business Source. As part of the contract, the BDC connects businesses to resources, as well as provides free one-on-one advising sessions to business owners. In Q1, the BDC team facilitated over 275 advising sessions and received about $65,000 for their efforts.

d. The BDC also renewed its contract with the IL Department of Commerce and Economic Opportunity (DCEO) to offer grant assistance to local businesses. Upon completion of the contract in June 2024, the BDC will receive about $15,000 for our outreach efforts.

e. In January 2024, City Council accepted as informational the 2024 Berwyn Economic recovery and Resilience Plan. Funded by the RISE Grant, this updated plan identifies 5 key themes, or priorities, of the Berwyn community.

f. The Vacancy Program is well under way. Of the 126 vacant properties, all have been inspected, 44 have appealed, 21 have registered and paid, and over 50 are occupied. Tickets were issued to unresponsive property owners. Moving forward, the Vacancy Ordinance Program will continue to inform and be reflected in the Vacancy Reports.

g. In general, the BDC leadership encourages professional growth. As such, the economic development team participated in seminars, summits, and courses in Q1. Of note, the team joined the Pathways to Cook County Summit and a Conflict Resolution Seminar.

The Outta Space- 6840 32nd St, Business Roundtable

Berwyn Shops Jury Day

On March 4, 2024, the 2024 Berwyn Shops cohort was announced. Over the next few weeks, the vendors will prepare their spaces in anticipation of the Grand Opening on May 3, 2024! This season marks the 3rd year of Berwyn Shops and will offer everything from sweet treats and coffee to skincare and home goods.

During season three, we are excited to see vendors expand their brands, host engaging events, and make new connections with customers, partners, and the Berwyn community. Over the past two years, vendors have seen incredible support not only from the City of Berwyn, but also from media platforms across Chicago, which we can’t wait to see more of during the 2024 season.

Grand Opening will be on May 3, 2024 and we would love to thank all of the partners that have helped make the Berwyn Shops a huge success. We look forward to seeing how each individual vendor grows in the upcoming year!

As the newest homegrown project, Sprout is designed to support 30+ entrepreneurs in one space. Open every Tuesday-Sunday, it is the perfect one-stop-shop, offering everything from artisanal blankets and candles to handmade accessories and beauty products.

In Q1, Sprout vendors sold over 3,500 items, totaling over $40,000 in sales! They have even hosted 10+ events, adapted their product lines to the Berwyn Community, and have continued to grow their marketing and online presence. We are proud of Sprout and cannot wait to see it blossom in 2024!

SOCIAL MEDIA & MARKETING REPORT

E-BLAST MARKETING RESULTS

The BDC’s email campaigns are split up into 4 major categories, Economic Development, Chamber, Why Berwyn, and The Berwyn Shops. By curating specific audiences we are able to make sure that the correct information is being delivered to correct people. Along with designing specific emails for defined audiences the emails are designed to improve engagement with our social media, website, and in person communication.

SOCIAL MEDIA RESULTS

SOCIAL MEDIA RESULTS

SOCIAL MEDIA IMPRESSIONS: