Economic Development - Business Benefits
Skokie is a pro-business community that offers a lot of 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 regular basis to strengthen its business climate.
Location
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 approximately 5,000 riders, connecting the Village with downtown Chicago.
Incentives
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 local taxes on natural gas or electric utilities, nor are there any 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 Economic Development Initiative: Skokie has recently launched a new initiative to attract and retain businesses in downtown Skokie. This initiative offers an incentive package to retail, restaurant and entertainment businesses with the aim to make Skokie downtown more attractive destination to shop, dine, and play. For more information on the Skokie Economic Development Initiative, click: Downtown Skokie Business Incentive Programs |
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.
It is little wonder that Skokie has recently been named as a top ranking suburb by Chicago Magazine and one of the nation's hottest suburbs by Money Magazine.
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.
Please click here to know more about programs and initiative started by the Village of Skokie.