Village of WestmontDate Issued: September 30, 2016
“We’re only a few years into our TIF district initiatives, but we’re already fielding considerable interest from developers and the business community,” said Economic Development Partnership Director Larry Forssberg. “Following the excitement of recent projects like the Mariano’s on the south side of town, and the multi-million dollar Hilton project on the north side of the community, we’re eager to build on these successes throughout our village.”
“Our Economic Development Committee is now working on an Economic Development Strategic Plan,” added Communication Development Director Jill Ziegler. “We want to give individual attention to each of our three distinct economic corridors - Ogden Avenue, the Downtown Central Business District, and the South Westmont Business District.”
Over the past year, there have been several important new developments and business expansions. Building permits have increased by 20 percent halfway through 2016 compared to the same time in 2015. Some of the recent projects include:
OGDEN AVENUE CORRIDOR* Investment by existing auto dealerships along the Westmont Auto Mile* Approved new dealership building and parking garage for BMW* Approved building remodel and parking lot expansion for Tesla* Approved new parking garage for Audi that is currently in construction* Reviewing proposed building remodel for Porsche.
SOUTH WESTMONT BUSINESS DISTRICT (SWBD) & AREA* Mariano’s completion and record-breaking grand opening* $62,000 in revenue due to new growth in SWBD TIF thus far in 2016* $134,000 in revenue projected for 2017* Construction ongoing for Aspired Senior Living* Construction ongoing for Express Oil Change
CENTRAL BUSINESS DISTRICT * New revenues coming in due to rising property values* $98,000 in revenue due to new growth in 2016, compared to $15,000 in 2015* $120,000 projected revenue for 2017, of this, 25% of the revenues to be shared with Community Unit School * * District 201 for capital improvements and upgrades to Manning School, which is located in the TIF District* (3) new small businesses approved with business licenses* New proposal for a veterinarian project with a significant interior remodel for a building that has been vacant for nearly a decade
Westmont’s Economic Development Partnership (WEDP) continues to be active with reviewing development proposals for the Central Business District as well as throughout the community. If you are interested in learning more about the WEDP or have a business development question or suggestion, please contact us at email@example.com or 630-960-5553.
Contact: Larry McIntyreVillage of Westmont Communications Director630-417-0280, firstname.lastname@example.org