Berwyn Development Corporation: 2024 Q2 Report

2024

QUARTERLY REPORT 2ND QUARTER | APRIL-JUNE

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

2024 APRIL - JUNE TIMELINE Grand Opening Loyola MacNeal Hospital's Pulmonary Clinic Women in Business Q3 & Q4 2023 Vacancy Report Completed Business Corridor Roundtable – Harlem/Cermak Rd Economic Development Commission Meeting Loan Commission Meeting Ogden Ave Business Stakeholders Meeting 5 Corridor Walks Berwyn Shops Preview & Picture Day Berwyn Shops On-Site Safety Training 1 Berwyn Sprout Vendor Event Mini-Golf Pub Crawl Oktoberfest Committee

APRIL

Women in Business Grand Opening Jalos Restaurant Sports Bar & Grill Grand Opening Friendly Insurance Advisor Group LLC BISB Celebration at Dominican University Commercial Corridor Renovation Grant (CCRG) Launched RISE Grant Reporting Finalized & Grant Closed Out Business Corridor Roundtable – Roosevelt Rd Loan Commission Meeting – Approved 1 Loan Career Day Presentations at St. Leonard 2 Corridor Walks 2024 Berwyn Shops Grand Opening Round 4 of Sprout Vendors Selected Project Homegrown awarded $120,000 from BMO Bank 360 Cameras at the Berwyn Shops CBS2 Chicago Live at the Berwyn Shops FOX Chicago Live at the Berwyn Shops Berwyn Boutique Round 1 Graduated Berwyn Shops Monthly Training – Marketing 1 Berwyn Shops Vendor Event Berwyn Boutique Info Sessions 2 Berwyn Sprout Vendor Events Oktoberfest Committee

MAY

JUNE

Grand Opening Loyola MacNeal Hospital BDC Non-Profit Roundtable Women in Business Chamber After Hours DCEO Cook County Spoke Contract Completed Roosevelt Rd Inventory & Upgrades Project Drafted Commercial Corridor Renovation Grant Webinar BSO Cook County Q2 Pulse Check 5 Corridor Walks Project Homegrown at Art in the Park Launch of Berwyn Boutique Website & Socials Berwyn Shops Monthly Training – HR & Insurance 1 Berwyn Sprout Vendor Event 2 Berwyn Shops Vendor Event Cruise Nites Oktoberfest Committee Volunteer Thank You Dinner

PAGE 1

LETTER FROM THE EXECUTIVE DIRECTOR As the Executive Director of the Berwyn Development Corporation (BDC), I would like to welcome you to our 2nd 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.

First, I am thrilled to share that Q2 of 2024 marked incredible milestones for Project Homegrown. For example, the Berwyn Shops successfully launched its 3rd season with 12 new business owners, offering everything from coffee and baked goods to hair care and apparel! Since opening, the 2024 cohort has been featured across 8 media outlets and spotlighted in 2 magazines!

In addition, Berwyn Sprout celebrated its 9-month anniversary in May. Since August 2023, vendors have placed in pitch competitions, obtained grants, developed partnerships, and expanded their product lines. In fact, Sprout vendors have sold over 14,300 items, totaling over $180,000 in sales!

Finally, Berwyn Boutique honored its first round of vendors (more details below), and BMO Bank awarded Project Homegrown with a multi-year grant totaling $120,000! Our retail incubators would not exist without the continued support of our partners, shoppers, and the Berwyn community!

Beyond Project Homegrown, the BDC also noted the one-year anniversary of the Vacancy Program.

This program is administered in partnership with the City of Berwyn and requires all vacant property owners to register, hold proper insurance, and have a plan for their spaces. Over the past year, 140 vacant properties have been inspected, 22 have registered, and 57 have become occupied! As registration continues, we hope to see a steady decrease in vacancies across Berwyn!

Finally, the Berwyn community witnessed the arrival of historic structures and wayfinding signage in Q2. Specifically, the BDC restored a light-up jukebox and installed it on the northeast corner of Ogden Ave and Wenonah Ave. Funded by the IL DCEO Route 66 Grant, the jukebox is just one piece in a series of installations designed to celebrate the Mother Road. Be sure to check out the new features along Ogden Ave during the upcoming Rt 66 Car Show!

With such a strong start to 2024, we cannot wait to see what happens next in Berwyn!

Sincerely,

David Hulseberg

BERWYN BOUTIQUE UPDATE Congratulations to Makrame Green, Los Amigos Books, and Juicey Gems! At the end of May 2024, these three incredible business owners officially graduated from the Berwyn Boutique!

As the first cohort, they have set the standards high for this homegrown project, increasing brand awareness, strengthening community partnerships, and securing additional contracts!

While we miss them already, we cannot wait to see everything they accomplish in the future! Once again, congratulations to Fabi, Laura, and Eli!

Berwyn Boutique round 2 launches with 2 NEW vendors in July 2024!

For more information, scan the QR code!

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BERWYN DEVELOPMENT CORPORATION WITH THE CITY OF BERWYN

CONTRACT

A. Business Attraction (New Business Prospects) a. The BDC provided information 152 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 $173,488.045 in Finish Line Grants to 8 projects throughout 2024 thus far.

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 26,055 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 Q2 was connecting businesses to educational

opportunities and sharing financial resources, such as the Commercial Corridor Renovation Grant, Berwyn Revolving

Loan Fund, and Advantage IL Participation Program.

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 12 corridor walks, 5 informational sessions, and 2 business corridor roundtables. The roundtables

focused on Harlem/Cermak and Roosevelt Rd Districts.

C. Miscellaneous a. The BDC operates the Commercial Loan pool 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 (RLF), respectively. In Q2, the Berwyn Loan Commission recommended 1 loan application, pending bank review and City Council approval. b. The BDC celebrated incredible milestones with Project Homegrown in Q2. For example, the 2024 Season of the Berwyn Shops successfully launched in May with 12 NEW vendors. May 2024 also marked the 9-month anniversary of Berwyn Sprout, as well as the official graduation of Berwyn Boutique’s first round of vendors. c. The BDC continued its contract as a Community Navigator with the Cook County Small Business Source. As part of the contract, the BDC connects businesses to resources and provides free one-on-one advising sessions to business owners. In Q2, the BDC team facilitated over 410 advising sessions and received about $85,000 for our efforts. d. In Q2, the BDC completed its contract with the IL Department of Commerce and Economic Opportunity (DCEO) to offer grant assistance and promote state programs to local businesses. The BDC will receive about $20,000 for our efforts. e. As of Q2, the Vacancy Program has been implemented for one year. As such, vacancy registration renewals have started. Of the 140 vacant properties, all have been inspected, 48 have appealed, 22 have registered and paid, and over 57 are occupied.

Tickets were issued to 7 unresponsive property owners. f. With the support of the city, the BDC launched the Commercial Corridor Renovation Grant (CCRG) in Q2 of 2024. Designed to assist property and business owners along 16th St and 26th St with exterior renovation projects, the CCRG reimburses 50% of project costs up to the maximum grant amount of $10,000. g. In general, the BDC leadership encourages professional growth. As such, the economic development team participated in seminars, summits, and courses in Q2. Of note, the team attended the Legacy Project, ILCMA, and IEDA conferences.

La Parra Restaurant & Bar Business Roundtable: Cermak Road on April 24th

BDC Office One-on-One Business Advising

SPECIAL EVENTS

This quarter, the BDC hosted several exciting special events. On April 20th, the annual MiniGolf Pub Crawl celebrated its 20th anniversary!

This year's after-party was supported by donations of pizza and beer from 3 local businesses.

The Mini-Golf Pub Crawl’s afterparty was sponsored by Paisans Pizzeria & Bar, Flapjack Brewery, and The Garage Smokehouse & Bar. There were 9 sponsors and 15 participating businesses. For Cruise Nites, the BDC received support from Buddy Bear Car Wash and Windy City Classics car club.

In June, we reintroduced the Cruise Nites event, held on the first Mondays of June to August, showcasing nearly 50 cars and engaging businesses that opened specially for the occasion.

Interested in volunteering at an event?!

Sign up to join our volunteer email list by scanning the QR code!

Additionally, the Oktoberfest Committee held a thank-you dinner for volunteers to show appreciation for their dedication. The month concluded with the 6th Annual Pride Walk on June 29th.

CHAMBER

TOTAL MEMBERS

361

Q2 +20

As we wrap up Quarter 2, the BDC is excited to share valuable insights from our chamber. We welcomed 20 new businesses as members this quarter, marking a 122% growth from Quarter 1.

Our retention rate also improved, rising by 19% to 76%. This quarter, we hosted four ribbon-cutting ceremonies and six networking events, including Women in Business, Non-Profit Roundtable, and our Business After Hours gatherings.

We’re thrilled with the progress and look forward to continuing our momentum in the next quarter. Thank you to all our members for your ongoing support and participation!

For more information, scan the QR code!

RETENTION

76%

Q2 +19%

EVENT ATTENDANCE

136

Q2 +147.27%

THANK YOU!

Our upcoming plans include more engaging events and initiatives to support our businesses.

Thank you for your continued support and participation.

Let's make the next quarter even more successful together!

WOMEN IN BUSINESS

Organizing the Women in Business group has been an incredibly rewarding and inspiring experience. This quarter, we've established valuable partnerships with women who bring diverse perspectives and innovative ideas.

These meetings provide a platform for women in our community to connect, share insights, and support each other in their professional and personal journeys. We’re excited about what the future holds.

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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

CONSTANT CONTACT E-BLAST SUBSCRIBERS

7,684

Q2 +100 New Subscribers AVERAGE CLICK-THROUGH-RATE:

11.5%

AVERAGE OPEN RATE:

46%

Q2 +3.5%

INSTAGRAM

LinkedIn

20.5K FOLLOWERS +400

10.1K FOLLOWERS +293

810 FOLLOWERS +30

INSTAGRAM

LinkedIn

100K

APRIL

4,369

JUNE

AVERAGE FACEBOOK ENGAGEMENT RATE (AVG <1%)

AVERAGE INSTAGRAM ENGAGEMENT RATE (AVG IS 1.22%)

TOTAL IMPRESSIONS Q2 2024 - 262K

TOTAL IMPRESSIONS Q2 2024 - 82K

7.27%

6.77% HIGHEST PERFORMING POST IN Q2 2024: FACEBOOK:

26,284

4,938

20,407

50,680

MAY

42,436

0

62,267

20K

3,300

26,003

80K

40K

7,455 REACH 8.91% ENGAGEMENT 1,240 REACTIONS

Q2 -3%

FACEBOOK

SOCIAL MEDIA IMPRESSIONS: FACEBOOK 60K

Q2 +437

INSTAGRAM:

2,000 IMPRESSIONS 10.7% ENGAGEMENT 166 LIKES