S. Elgin Starts Development Study Business Association Picks Firm for Economic Evaluation
Ryndak, Heather, Daily Herald (Arlington Heights, IL)
Byline: Heather Ryndak Daily Herald Staff Writer
South Elgin's long-awaited economic development study - surveying quality of life in the village - has officially begun.
The village's business association took the first step this week by selecting a marketing firm to conduct the six- to eight-month evaluation.
Gruen, Gruen & Associates in Oak Park will be paid $50,000 to work with businesses, elected officials and residents about ideas on how to revitalize the village's downtown, retain existing business, attract development along the Randall Road corridor and address traffic issues.
The company, along with Teska Associates Inc., which will assist with urban design and landscape plans, will help determine what type of commercial business the village should attract and where it should be located.
According to Gruen Associates' preliminary research, employees found that between 1990 and 1996, South Elgin has chiefly attracted manufacturing and construction businesses. Finance, insurance and real estate companies are lacking in the village of nearly 14,000 people, the report shows.
Largely an outline to manage growth, the survey - which will start in early November - also will focus on how to manage growth by exploring such controversial business tactics as tax-increment financing districts. …