Economic Development - Business Benefits
Skokie is a pro-business community that offers many benefits to its existing and new businesses, not only from the location standpoint, but also through a low tax structure, superior municipal services and several programs that it launches on a regular basis to strengthen its business climate.
Skokie Economic Development Initiatives:
Skokie offers programs and initiatives to attract and retain businesses in Downtown Skokie. The Village, through TIF District funding, offers an incentive package to retail, restaurant and entertainment businesses with the aim to make Downtown Skokie a more attractive destination to shop, dine, and play.
For more information on Skokie's Economic Development Initiatives, click: Downtown Skokie Business Incentive Programs
The Village also offers financial incentives as part of the West Dempster TIF District, including exterior and site improvement assistance to help improve accessibility, functionality and aesthetics along this major thoroughfare.
For the Village's industrial and commercial areas, businesses are eligible to apply for Cook County Class property tax reductions when occupying or improving an existing building to help ease the tax burden of these properties.
The Village also has assisted almost 30 companies from 2008 to 2012 as part of a facade grant program.
Skokie's location is exceptionally advantageous for doing business over many other suburbs in the Chicago metropolitan area. Superb public transportation, proximity to Chicago and O'Hare Airport, and direct access to interstate highways enable businesses to serve customers nationwide and attract employees from a wide labor pool. Accessibility is a key advantage. Spanning Skokie's western edge is the Edens Expressway (I-94), providing easy entry into the community and connections with highways. Skokie is just nine miles from O'Hare Airport and fifteen miles from downtown Chicago. Commuters preferring public transportation need only walk a few blocks to access fourteen Chicago Transit Authority (CTA) and PACE suburban bus lines. Each weekday, the CTA estimates the Skokie Swift rail line carries 4,000 riders, connecting the Village with downtown Chicago. The Village offers two CTA stations at Dempster Street and the newly-constructed Oakton Street Station.
In Skokie, businesses enjoy municipal services and amenities without the extra costs. Property tax rates are among Chicago's lowest, with no municipal levy increases since 1990. There are no sewer taxes, head taxes, impact fees, or other hidden costs. Any possibility of major tax hikes is decreased by the Village's well-established infrastructure and stable population.
Skokie businesses enjoy top-rated emergency service protection from the Police and Fire Departments. Water comes from Lake Michigan via a fully looped local water main system, yet rates are among the lowest of all inland suburbs. Recently completed projects include an $80 million sewer and storm water detention system, plus a commercial recycling program designed to save businesses millions of dollars. Skokie's excellent municipal services also translate to lower insurance premiums. All from a Village holding an AAA bond rating, the highest achievable.
Programs and Initiatives
Village staff, in cooperation with the Skokie Chamber of Commerce, launches numerous programs and initiatives to assist businesses and stimulate the Skokie economy. Examples include:
- Facade Rehabilitation
- Interior Renovation
- Downtown Visual Merchandising Assistance
- Broker Bonuses
- Wednesdays on the Green
- Promotional Advertising
- Outdoor Dining Promotions
Please click here to learn more about programs and initiative offered by the Village of Skokie.