ECONOMIC VITALITY STRATEGY
SKOKIE
INTRODUCTION & PURPOSE
The Village of Skokie’s assets place the community in a position to vigorously compete with peer municipalities across the region, nation and the world. In 2017, the Village’s Economic Development Commission completed Skokie’s first Economic Development Strategy (the “Strategy”). Updating the Strategy is critical to reflect market and economic changes that have occurred since then. Examples of significant changes include the impacts of the COVID pandemic, e-commerce market share growth, remote work pattern shifts, and changes in various real estate markets.
The purpose of the Economic Vitality Strategy is to best position the Village on the path toward a resilient and vital economy. Since the 2017 plan’s completion, the Village has rebranded its’ Economic Development work as “Economic Vitality” to embrace a more wholistic view of Skokie’s economic ecosystem and recognize the vast network of stakeholders that are part of it. The updated Strategy seeks to engage that ecosystem and increase its economic output through specific actions the Village can support and undertake. The Strategy accomplishes this through understanding the context of our local economy in the region and by focusing on Skokie’s key opportunities and competitive advantages. Resulting successes will grow the Village’s economic base, marketability, and quality of life.
The Village of Skokie is located in Cook County, Illinois in the North Shore of the Chicago region. The Village is approximately 10 miles north of downtown Chicago and about 2 miles west of Lake Michigan. Incorporated as Niles Centre in 1888 and renamed the Village of Skokie in 1940, Skokie grew rapidly during the post-war era and currently serves a population of nearly 68,000 residents. The Village takes great pride in the number of immigrants and culturally diverse residents who reside and work here. Within Skokie an average of 90+ languages are spoken in the homes of school age children. Besides its diverse and highly educated workforce and top-rated schools and park systems, the Village has a number of important assets.
• A broad and deep array of municipal services, including nationally accredited public works, police and fire departments, the first in the U.S. to have all three such certifications.
• A dense trade area for retail and service providers.
• A unique position in the regional life science space as home to the Illinois Science + Technology Park in Downtown Skokie.
• A diversified economy comprised of both local businesses and large employers. Sizable employers located within Village limits include Endeavor NorthShore Health System/Skokie Hospital, Westfield Old Orchard Shopping Center, Cook County Courthouse, Tenneco, and Oakton College. The Village’s location
also provides proximity to other major employers in the region, such as Northwestern University.
• A number of transportation amenities unique among north suburban communities. Skokie has access to Interstate 94 at three interchanges. Metra service just west of Village boundaries, and CTA Yellow Line (The Skokie Swift) rail service with stations located at Dempster and Oakton Street, in Downtown Skokie. Over 167,000 cars and trucks pass through or stop in Skokie every day. O’Hare Airport is located only 12 miles to the west. In 2023, Skokie was named the “Best Suburb to Commute to Chicago” by PureWow.
• A wide array of housing options and a growing number of mixed-use projects around Downtown Skokie and other strategic locations in the Village.
• As a founding member of Chicago’s North Shore Convention and Visitors Bureau, Skokie offers many hotel, dining and entertainment options. The North Shore Center for the Performing Arts hosts hundreds of performances each year that draw from the greater Chicago area and is the performance home to Music Theater Works and Northlight Theatre.
• The Skokie Sculpture Park and Holocaust Museum and Education Center draw thousands of visitors annually.
The following pages provide data and insights into the Skokie economy.
VILLAGE OF SKOKIE COMMUNITY PROFILE
PEOPLE
The total population of Skokie is 65,193. The median age is 42.55
EDUCATIONAL ATTAINMENT
54.94% of the population in Skokie have an associate degree or higher. 47.45% have a bachelor’s degree or higher.
LABOR FORCE
Skokie has a labor force of 32,053 people, with an unemployment rate of 3.4%.
HOUSING
Skokie’s housing stock is comprised of more than 25,000 units. 56% of the housing stock are single-family, detached homes with the remaining 44% being multi-family dwellings.
BUSINESSES & JOBS
Skokie has a total of 3,516 businesses. In 2024, the leading industries in Skokie were health care and social services, manufacturing, retail, and accommodation and food services.
INCOME & SPENDING
Households in Skokie earn a median yearly income of $88,647. 44.27% of the households earn more than the national average each year. Houshold expenditures average $84,629 per year. The majority of earnings are spent on shelter, transportation, food and beverages, health care and utilities.
SKOKIE TRADE AREA SNAPSHOT
SKOKIE TRADE AREA SNAPSHOT
MILE
SKOKIE TRADE AREA MAP
Heat mapping depicts origin location for all visitors to Skokie in 2024.
ECONOMIC VITALITY STRATEGY
Skokie has established the following overall economic development goals:
• Enhance the Village’s revenue and tax base
• Support the inclusive and sustainable growth of businesses
• Increase support and innovation for small businesses and entrepreneurship
• Strengthen the workforce development ecosystem
• Expand and diversify housing options in the Village
• Use placemaking as an economic development engine
• Strengthen the economy through the richness and diversity of Skokie’s many cultures and ethnicities
This will be accomplished through actionable steps in the following focus areas:
• Business attraction & recruitment
• Business retention & expansion
• Talent attraction & workforce development
• Small business development & entrepreneurship
• Tourism & visitor attraction
• Marketing, branding & communication
Collectively, the Village’s economic development goals and objectives focus on enhancing quality of life in the community by promoting high quality, tax generating growth that:
• Is sensitive to the community’s unique character
• Satisfies the commercial and housing needs of the community
• Celebrates Skokie’s diversity
• Allows the Village to provide high quality services within a framework of fiscal constraints
BUSINESS ATTRACTION & RECRUITMENT
In the ever-evolving landscape of our local economy, the attraction and recruitment of new businesses play a critical role in fostering growth, stability, and prosperity for the Village. Actively seeking and encouraging new businesses to establish operations in the Village of Skokie can drive job creation, enhance the local tax base, diversify the economy, and provide for the community’s needs. Moreover, business attraction fosters innovation and competitiveness. A vibrant business environment encourages collaboration between companies, educational institutions, and research centers, leading to technological advancements and entrepreneurship. This dynamic ecosystem can make a region more appealing to additional investors and talent. The strategic attraction and recruitment of new business enhances the overall prosperity and resilience of our local economy and improves the quality of life for our residents.
A Market vacant properties, redevelopment sites and opportunity sites through the Village’s available properties website, Costar and the State of Illinois.
B Support growth and expansion of the Village’s primary neighborhood commercial areas and corridors.
C Implement the Main Street Commercial Corridor Plan.
D Support the continued redevelopment of Downtown Skokie through recruitment, property investment, events and marketing.
E Collaborate with the Illinois Science + Technology Park owners to attract new businesses and growth in the park.
F Continue to plan for the enhancement of business districts through public space improvements, streetscaping, wayfinding and other public infrastructure to enhance character and sense of place.
G Support the growth of Skokie’s medical district and its anchor, Endeavor North Shore Hospital.
H Promote the rehabilitation, improvement, and occupancy of older commercial properties throughout the community.
I Develop strategies for each of the Village’s industrial areas to enhance identification, infrastructure and building investment.
J Develop and manage branding and marketing materials for targeted prospects.
K Continue to strengthen the staff’s role as liaisons to businesses and investors through the site selection and entitlement process.
L Attend industry trade shows and events to promote the Village, identify prospective businesses and investors, and maintain best-in-class economic development services.
M Manage incentive programs to effectively and efficiently attract businesses and improve properties in alignment with the Village’s strategic goals.
N Work with the State, County and transit providers to maintain and improve the transportation infrastructure to support new businesses and redevelopment opportunities.
O Plan for and encourage a high quality, appropriately scaled and located, new higher density residential and mixed-use development to grow the local consumer base, diversify the housing stock and address housing affordability.
BUSINESS RETENTION & EXPANSION
The foundation of a strong local economy lies in supporting and expanding the businesses that are already established. Business retention and expansion (BRE) initiatives play a crucial role in sustaining jobs, fostering innovation, and creating a resilient economic environment. In helping local businesses overcome challenges, access new markets, and expand operations, the Village is supporting job creation and enhancing the local tax base. Additionally, when businesses feel supported, they are more likely to reinvest in their communities through capital improvements, workforce development, or philanthropic contributions. BRE efforts also build stronger relationships between businesses and the Village, ensuring that policies and incentives align with business needs. Fostering expansion within existing businesses often requires fewer resources than recruiting new companies. By prioritizing the needs of local businesses, the Village of Skokie can build a thriving, competitive, and future-ready economy.
A Establish a formal BRE program to meet with larger employers on a regular basis.
B Maintain and establish commercial and industrial corridor business groups to identify common needs and potential program/ policy initiatives for each commercial and industrial geography.
C Establish a program with IS+TP management to enhance retention and expansion in the park.
D Coordinate with the Skokie Chamber to host networking opportunities and events to promote connections and communications between businesses.
E Implement strategies for businesses to attract and retain skilled workers.
F Continue and expand multi-channel communication to the business community to share important information, events and opportunities.
G Develop and maintain a process to provide updated business contact information.
H Conduct business roundtable events for targeted geographies or industries to identify trends, common needs and potential program/policy initiatives to explore.
I Promote the Village’s green business program and sustainability initiatives to support energy efficiency and impact reduction.
Talent attraction and workforce development are critical drivers of economic growth and sustainability. A skilled and diverse workforce enhances innovation, productivity, and business competitiveness, making the local economy more attractive for investment. Companies seek locations with a strong talent pool, and communities that invest in education, training, and workforce programs can better meet industry demands. By focusing on workforce development, the Village of Skokie can help our workforce development partners align skills with market needs. Talent attraction strategies—such as quality-of-life improvements, diverse housing types, and thriving commercial neighborhoods— help retain and draw talent, fostering a dynamic economy. In turn, businesses expand, tax revenues grow, and the Village thrives.
A Increase engagement with external partners to strengthen and promote workforce programs and pathways to professions.
B Serve as a connecter between businesses and workforce development partners.
C Support education partner initiatives at Oakton College and area high schools that strengthen the connection between students and career opportunities.
D Leverage industry expertise in the community to develop policies and programs that grow the workforce pipeline.
E Work with employers, transit agencies and transportation jurisdictions to improve and ensure equitable access to employment centers.
TALENT ATTRACTION & WORKFORCE DEVELOPMENT
SMALL BUSINESS DEVELOPMENT & ENTREPRENEURSHIP
Small business development and entrepreneurship play a crucial role in our local economy by driving innovation, creating jobs, and fostering competition. Small businesses also promote local economic resilience by supporting local suppliers and enhancing consumer choices. Small businesses are often more adaptable to market changes, allowing for quicker responses to economic shifts. The Village of Skokie supports small business growth through incentives, advocacy and network building in order to create an entrepreneurship ecosystem that empowers individuals, broadens the tax base and cultivates a dynamic economic landscape.
A Engage with small business advising partners at Oakton College, SBDC, Skokie Library and Skokie Chamber to build a comprehensive and efficient advisory network.
B Update the Retail Enhancement Program and to support more small business assistance and development.
C Develop a comprehensive capital sourcing and referral service for micro-lenders, SBA and other grant and lending initiatives
D Serve as a local clearinghouse to bring together financial, advising and consulting resources to provide direct and convenient access for Skokie businesses.
E Increase the planning and programing of pop-up spaces, makers markets and other applications to incubate makers and sellers.
Tourism plays a vital role in the Village’s economic vitality by driving revenue, creating jobs, and attracting visitors. Visitor attractions draw travelers who contribute to the local economy through spending on accommodations, shopping, dining, and entertainment. Beyond economic gains, tourism promotes and enhances the arts, cultural exchange and preserves heritage sites throughout the Village.
A Collaborate and communicate with visitor destination partners to strengthen marketing and increase business benefits of visitors.
B Strengthen the relationship with Chicago’s North Shore Convention & Visitors Bureau to enhance promotion and awareness of Skokie events, programs and opportunities.
C Collaborate with venue partners and promoters to strengthen opportunities and events for increased visitor attraction.
D Schedule and conduct routine visits with hotel managers to communicate about the market space, upcoming events and opportunities.
E Support and encourage local and neighborhood events and festivals that focus on culture, food, arts, local businesses and local makers.
F In partnership with the CVB, Chamber and destination partners, provide updated visitor information resources.
TOURISM & VISITOR ATTRACTION
MARKETING, BRANDING & COMMUNICATIONS
Marketing, branding, and communications contribute to our economic vitality by attracting investment, fostering business growth, and enhancing Skokie’s competitive advantages and opportunities. A strong brand identity positions the Village as a desirable destination for businesses, talent, residents and visitors – collectively creating opportunities for economic expansion. Marketing and communication efforts strategically promote the Village’s unique assets and opportunities to target audiences, including investors, developers, businesses, and residents.
A Establish a strategy to brand Skokie in a way that differentiates it from neighboring communities or other regional competition.
B In coordination with the Village’s Communications and Community Engagement team, maintain an annual economic vitality marketing plan.
C Develop neighborhood specific branding strategies for unique corridors or neighborhoods (i.e. The Swift District, Make it on Main, etc.)
D Update and maintain the Economic Vitality web pages to reflect current data, programs and opportunities.
E Develop and publish a semi-annual economic vitality newsletter to promote the Village, celebrate successes and market opportunities.
F Collaborate with the Village marketing staff to promote economic vitality initiatives, successes and news that showcases the Village across multiple channels.
G Plan events that connect Village officials, staff and businesses with one another.
H Leverage external partner channels and platforms such as the CNSCVB and the Skokie Chamber to share news and information.
THIS ECONOMIC VITALITY STRATEGY SEEKS TO BALANCE THE VILLAGE’S ECONOMIC DEVELOPMENT GOALS AND OBJECTIVES WITH THE REALITIES OF THE PRIVATE REAL ESTATE MARKET, LOCAL BUSINESS CLIMATE AND VILLAGE FISCAL CONSTRAINTS. IT WILL GUIDE THE VILLAGE IN ALLOCATING ITS ECONOMIC DEVELOPMENT RESOURCES IN A MORE PROACTIVE, STRATEGIC, AND EFFICIENT MANNER.
LOCATION QUOTIENTS
NAICS 11 AGRICULTURE, FORESTRY, FISHING AND HUNTING 0.461415693
NAICS 21 MINING, QUARRYING, AND OIL AND GAS EXTRACTION
NAICS 22 UTILITIES 0.463181664
NAICS 23 CONSTRUCTION
NAICS 31-33 MANUFACTURING 0.883754313
NAICS 42 WHOLESALE TRADE 0.264109237
NAICS 44-45 RETAIL TRADE 0.93770271
NAICS 48-49 TRANSPORTATION AND WAREHOUSING 0.742201504
NAICS 51 INFORMATION 0.67066281
NAICS 52 FINANCE AND INSURANCE 1.92810639
NAICS 53 REAL ESTATE AND RENTAL AND LEASING 1.32420253
NAICS 54 PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES
NAICS 55 MANAGEMENT OF COMPANIES/ENT.
NAICS 56 ADMINISTRATIVE AND SUPPORT AND WASTE MANAGEMENT AND REMEDIATION SERVICES 0.264491234
NAICS 61 EDUCATIONAL SERVICES 4.114060943
NAICS 62 HEALTH CARE AND SOCIAL ASSISTANCE 1.346168622
NAICS 71 ARTS, ENTERTAINMENT, AND RECREATION 2.343643434
NAICS 72 ACCOMMODATION AND FOOD SERVICES 0.35412144
NAICS 81 OTHER SERVICES (EXCEPT PUBLIC ADMINISTRATION) 1.831553258
NAICS 99 UNCLASSIFIED 5.320153665
