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2016-05 2/17116 RESOLUTION NO. 2016-05 WHEREAS,A RESOLUTION ADOPTING THE ECONOMIC DEVELOPMENT STRATEGIC PLAN OF THE VILLAGE OF BUFFALO GROVE, ILLINOIS the 2016 Economic Development Strategic Plan ("Plan") has been prepared and submitted fort the review and consideration by the President and Board of Trustees of the Village of Buffalo rove; and, WHEREAS, the Plan establishes goals, strategies and actions, which may be amended from i e to time, for implementing economic development polices; and, WHEREAS, the review and consideration of the Plan occurred the Regular Meeting of the President and Board of stees on e y 22, 2016; and, WHEREAS,pending any final review of changes to, or supplemental reports o ,various elements of the Plan, the 2016 Economic Development Strategic Plan can be considered fora option. NOW,THEREFORE, ES LV by the President and Board of Trustees of the Village of Buffalo Grove, Cook and Lake Counties, Illinois that: ECTION 1. The 2016 Economic Development Strategic Plan is hereby adopted y the President and Board of Trustees and attached as Exhibit" ". AYES: S - Berman, Trilling, Stein, Ottenheimer,JohEison YS: 0 -None ABSENT: 1 - Weidenfeld PASSED: February 22, 2016. APPROVED: February 22, 2016. 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In addition to its family-friendly amenities, the Village is a key economic center with over 10 million square feet of commercial space and approximately 20,000 workers who commute to Buffalo Grove from all over the region. To protect and enhance this economic activity, the Village has developed an VIABLE Economic Development Strategic Plan (Plan). The plan will define PRflACTIV BUSINESS MUNIGII'ALIkY the economic development vision for the Village and the steps needed to achieve that vision. Economic development is traditionally defined as the attraction, retention, and expansion of development and businesses. Economic development generally requires the alignment of three key players: a willing property owner, a viable business, and a proactive village. The final and third key player is a proactive municipality or governing body. This key player helps facilitate and regulate A willing property owner is an owner of land/facility and is dealings among willing property owners and viable businesses currently selling or leasing, or looking to sell or lease property with programs, policies, and activities that seek to improve the to a viable business. This owner will generally utilize brokers, economic well-being and quality of He for a community. developers, and reports to understand market trends and could be interested in developing, redeveloping, or making other physical improvements to the property as well as land acquisition and assembly. The second key player, a viable business, is a new, existing, or expanding business. This key player is seeking or working with a willing property owner to occupy a facility. A viable business requires a facility that fulfills certain physical requirements (building specifications) as well as market requirements (located in an area of market demand). Buffalo Grove Economic Development Strategic Plan Page 1 " A nnunioipa|ity cannot achieve economic development solely on its own as it has limited influence in cultivating ^ ~ and aligning vvi||ing property owners and viable businesses. To ensure compatibility vvith other local and regional The only aspect of economic development wholly vvithin a initiativey and optimize the opportunity for future partneryhipy, nnunioipa|it/y control is its ability to embrace and fulfill the the Economic Development Strategic Plan incorporates and role of a proactive nnunioipa|ity. hui|dy off of relevant Vi||age, oounty, and regional p|any, pro'eoty, and ntatvey. These projects and ntatvey include The Economic Development Strategic Plan v || help but are not limited to: Route 53/120 project, Lake-Cook Road the Village optimize its role as a proactive nnunioipa|ity. vvidening project, Northwest Suburban Housing Co||ahorat ve. It is meant to he a long-term guide in developing and an d Lake County Partner's Busi ness Outreach Program. Plans innp|ennenting po|ioiey that vvi|| position the community for and studies directly related to thiy Plan are listed he|ovv and economic development opportunities now and in the future. are described in more detail in Appendix A. The Plan is intended to provide thiy guidance for the next 10'15 years-, however, the Village can update thiy plan at , Village of Buffalo Grove Strategic Plan 2013'2018 anytinne. and an annual review is encouraged. (2012) The Plan is particularly tinne|y for a variety of reasons. First, , Village of Buffalo Grove Comprehensive Plan (2009) the Village of Buffalo Grove has already taken several steps , Village of Buffalo Grove Transit Station Area Study to become a proactive vi||age. It has streamlined processes (2007) by combining the Plan Commission and the Zoning Board , Lake County Comprehensive Economic Development of Appeals, ntng the number of referrals required before Strategy /2012) the Vi||age Board, and yinnp|ifving the Appearance Review ` ' Committee process. It has also begun to yet a clear vision , Planning for progreyy - Cook County's Consolidated hyeytah|iyhing a new Community Development Department. Plan and Comprehensive Economic Development The Economic Development Strategic Plan vvi|| hui|d off of Strategy, 2015-2019 (2015) these previous initiativey. , Homes for a Changing Region (2013) Seoond, the economic development landscape is evo|ving. , Chicago K4etropo|itan Agency for Planning GOTO 2040 Na1iona| trendy such as the rise in e'oonnnneroe and ` '/2010) te|eoonnnnuting, advancement in teohno|ogy, shrinkage of the retail footprint, emergence of the millennial generation, and comeback of the manufacturing induytry are having COMPREFENSIV PLAN UPDATE 2009 considerable impacts on oonnnnunitiey, huyineyyey, and development. More localized trendy such as the closing of Donniniok'y grocery stores, northern and westward expansion of industrial deve|opnnent, and new leadership in Springfield VILL are also affecting economic development dynamics. The Economic Development Strategic Plan explores these issues and helps the Village navigate them to achieve long-term economic stability. Buffalo Grove Economic Development Strategic Plan Page ' n Community engagement is a critical part of the Economic Development Strategic Plan process. Village staff formulated an outreach strategy to reach businesses, property owners, kogi7 A developers, residents, and other stakeholders throughout the planning process. These outreach activities are detailed Buffalo Grove in Appendix B and include meetings, interviews, workshops, Economic Development Strategic Plan presentations, open houses, and one-on-one interviews. Commonly expressed economic development strengths, weaknesses, and ideas for the future are shown below. Wednesday,December T^` 5:00pm—7:00 pm Village Hall council Chiuntk�rs These cleas ulfimately helped shape the clirecfion of the 50 Raupp Boulevard,Buffalo Grove,IL CvO0Id9 Plan. ■ • General accessibility to regional road networks. The accessibility to these road networks, particularly Interstate 94, is beneficial for both freight and passenger movement. We Want to Hear From You! The Village of Buffalo G,—i,—ting In E ono.i,Development St-,gi,Plan that ill identify ho, • Ideal regional location in Cook County and Lake the Village— ,hi—long t——nonni,go,th.The Plan has been developed o—the p-y— I and n tfn I 4ag,s.Th,Village ishoging,n Open House fo,the public to view and provide County. Buffalo Grove's location provides great access f=bsikionth,Plhnl,J—itisfin.li�ed. to labor and other industry centers. Additionally, Lake D,op on in anytime between 5:00p,Ind 7:00p,on D,,,,b,,2nl to I..m m o,,a bout the Plan and County has favorable tax structures for commercial sham yo.,tho.ghtsl development. re abo.tth",phn go to t[n,"Eononni,lo—lop—nt Sn-gi,Plan"Ink on tine Village's o,.11 the Co.county Development Department It 847 459 5530. • Strong demographic profile. The Village has a stable population with relatively high household incomes and high educational attainment levels. • High quality of life and services. These amenities and services include but are not limited to parks, schools, police, fire, and other Village services. • Solid base of businesses and industries. Buffalo Grove Economic Development Strategic Plan Page 3 Lack of housing stock diversity. The Village (Nen��f�ed by s��keho�dens thnzuOh uutre��h e�o�*l lacks housing optiony for young professionals, young • Developers grappling with national and regional fanni|iey, and empty nesters looking todovvnyize. trends such as shrinking retail opportunities, ° Lack of diversity among residential population. limited access to oapita|, and an uncertain |||inoiy economy. • Communications need to improve between existing businesses and the Vi||age. (|d�ntified by �t��ho|��r� throu�h outr��oh �ffort�) • Lack of incentives or programs to encourage ^ business and development growth. Developers , Strong and diverse employment, induatry, and noted theVi||age'y lengthy development residential base. processes, cumbersome sign code, and reputation of being difficult in approving oonnnneroia| projects. , VVe|oonnin0 environment to a diverse array of residents. • Outdated shopping oentera, no central business ^ Development of a central business district to provide district, and limited number and type of theVi||age vvith an identity, focal point, and synergy. restaurants for residents and workers. Strong , Redevelopment ofcommercial areas to meet current retail oonnpetition in nearby oonnnnunitieysuch as Deer market demands. Park. Lincolnshire. Wheeling, and Vernon Hi||y. , Increased nightlife aodvidea, particularly entertainment • High office vacancy rate. and dining options. • Misconception that manufacturing businesses . Promotion of industrial areas ayadvanoed/high'teoh in the Village are traditional manufacturing plants manufacturing centers. or "smokestacks." In rea|ity, these companies are more ^ Strong communications and relations with existing appropriete|yo|emyified as light oradvanced manufacturing buaineaaea. Vi||age he|pyfaoi|itate supportive services centers. and programs for business development and growth. • Limited public transportation options aywell as |innited uti|ization and avvareneyyofthese optiony. ^ Oeve|opnnentprooeaaeaand oodeaareo|ear. oonoiae. and streamlined. • High traffic and gridlock, eypeoia||ya|ong Lake-Cook Road. ° Village offers pro0rannaand incentives for development. , Joba/houain0 mismatch. |nduytrieyand companies in , The Village is aggressive and nimble in attracting and and around Buffalo Grove are in need ofyoung, highly- retaining businesses and deve|opnnent skilled professionals. However, a large portion of thiy � demographic lives in, or closer to Chicago. Buffalo Grove Economic Development Strategic Plan Page The planning process to create the Economic Development Strategic Plan included multiple phases, which are shown below. ;,'. This process was overseen by the Economic Development ` y Strategic Plan Steering Committee, which included businesses, -: f developers, elected/appointed officials, as well as other appropriate community groups and stakeholders to represent the " ' r varied business and development interests in Buffalo Grove. y >. �Y The Market Assessment was developed in the second stage ' of the planning process and is a snapshot of the existing market conditions in the village. These findings set the framework for the goals, recommendations, and action steps featured in the Economic Development Strategic Plan. A weblink to the Market = Assessment is provided in Appendix C. Economic Development Strategic Plan Phases of Development Market Strategy Plan Project Assessment Initiation and Goal and Exploration and ■ • • • Develupment Buffalo Grove Economic Development Strategic Plan Page 5 The Buffalo Grove Economic Development Strategic Plan is organized into sections that correspond with the plan's major Goal: themes of economic growth, land use and development, and quality of life. Each thematic section presents a summary of the Buffalo Grove will sustain and grow its economic base with existing conditions and a goal outlining a desired outcome. Each new, redeveloped, improved, and maintained commercial goal was developed through collaborative discussions with development and infrastructure that is functional, appealing, and Buffalo Grove elected officials, staff, business owners, property will contribute to the Village's competitive position. owners, local leaders, and other stakeholders. Following each Recommendations: goal is a set of recommendations and action steps needed to . Create a vision for the community. achieve these goals. Many of the presented concepts and ideas are applicable to more than one goal or recommendation, but are • Update the municipal code. listed in sections deemed most appropriate. • Facilitate commercial development and redevelopment A summary of the goals, recommendations, and action steps are opportunities. presented in Section Four. • Encourage environmentally sustainable retrofits and development. Goal: Goal is: Buffalo Grove will maintain, strengthen, and grow its businesses Buffalo Grove will maintain and enhance services, amenities, and employment, and continue to be a key employment center resources, and partnerships to foster a vibrant, livable, and for the region. desirable community in which to live, work, and play. Recommendations: Recommendations: • Improve communications and relations with current • Maintain and enhance the Village's housing stock and and potential businesses, owners, and the development market. community. • Improve accessibility to, from, and around the Village. • Enhance support to local businesses. • Preserve and enrich other aspects of the Village's livability • Broaden and enrich the labor pool for local businesses. and quality of life. Buffalo Grove Economic Development Strategic Plan Page 6 Buffalo Grove Economic Development Strategic Plan This page intentionally left blank. Page 7 L r SO . cV, 4 ��t��`�- � r 4 r r nC�Y +r, -''n°y. `•PIPAA �"7��11�� 'T ?��,��.•� t d� t,14rr �`' ! Ll,�� lZ '•�'i �� ° �'',J''- � y � �rz.fc,[•� �;• '� �'A'��}t7! r �S`'� �Y'� .r"-»:�r � � 7i(��♦♦ i;.` �<�,� r yttt"';""".e,' �,,k.,r-/1fT!:i'`r--� ICI✓�h� � �t. .,GPI .�,v J ',� ,��. I ri _ a I A,Nj i r lMOa OIW Reoent|y're|eayed employment eytinnatey indicate that the Village's 2014 employment base is approximately 20.000 Manufacturing 3,278 191% 8.4% 16.2% workers. Thiy base is generally concentrated in five main Accommodations and Food Services 2,158 12.6% 7,4% 5,9% induytriey: manufacturing; accommodation and food Professional,Scientific,and Technical 1,854 io.8% 8.5% 71% yen/ioey� professional, yoientifio, and technical services; Wholesale Trade 1,509 8,8% 4,8% 81% wholesale trade-, and health care and yooa| assistance. Health Care&Social Assistance 1,500 8.7% 13.6% io.5% Each of these five industries constitutes between 8% and 19% of the local employment haue, and oo||eotive|y Educational Services 1,093 6,4% 9,8% 9,5% a Administration&Support,Waste Management 1,056 6.2% 7.2% 6.8% ccounts for 60% of the total (Table 1.1). The Village's strong business and induytry is considered a key economic development strength among stakeholders. Finance and Insurance 977 5.7% 6.8% 4.7% Construction 607 3�5% Z6% 3�0% Arts,Entertainment,&Recreation 407 2.4% 1.7% 2.3% VVith over 3.000 vvorkery, manufacturing is the leading Transportation&Warehousing 374 2,2% 5,2% 1,6% i d~"~^'' employer and "~�~ '~ "M anUfactU[in g Other Services 348 2.0% 3.9% 2.6% e 'y 'e of the c" ' ' "' `r Ma r is the leading industzia| �" ' �" 'i�= =" industry employer— [ �� y Public Administration 324 1.9% 3.9% 2.5% AhhVe and |~^ h�`~ ~�~' and economic eytah| yhed in Buffalo G ",� " � e Information 170 10% 2,6% 1,6%engine of the provdng economic h e =" cCOOUni-�p o Management of Companies&Enterprises 91 0.5% 2.0% 2.0% date. Flex and its customers have invested over $100 nni||ion in the Buffalo Grove facility and hired over 300 employees. The oonnpany, vvhioh was awarded the 2015 Lake County Manufacturer of the Year by the A||ianoe for Industry and K4anufaoturing, has plans Source:Longitudinal Em ployer-H ouse hold Dynamics,U.S.Census Bureau. for continued growth. In addition to these new huyineyyey, existing manufacturers are beginning to expand. Growth in thiy induytry is not exclusive to Buffalo Grove. The nation and region are experienoing a reemergence of the manufacturing induytry as the economy continues to reoover, the induytryytrengtheny. and manufacturers reyhore their production to the U.S.` z.°wm Howard.Locating Chicago Manufacturing:The Geography= Production m Metropolitan Chicago.University of Illinois Cm=s= Center for Urban Economic Development.zma mmm Harold,Zinser,Michele,and Rose,Justin."How Illinois Can|m"Manufacturing's Comeback"Cram"*Chicago Business,December,zn1z. Buffalo Grove Economic Development Strategic Plan Page The Village has a particularly high concentration of advanced manufacturing, which refers to the emergence of high-tech products and processes in the manufacturing industry. Unlike traditional low-skilled, labor-intensive manufacturing jobs and processes that are vulnerable to off-shoring or automation, advanced manufacturing relies on a highly-skilled workforce and complex techniques to create sophisticated products that are difficult to outsource. Industry leaders believe that advanced manufacturing will be the key to the region's economy in the 21st century.' Nearly 40% of manufacturing firms in Buffalo Grove are classified as pharmacy/medical supply, computer/ electronics, and machinery (including transportation, Fabricated metals,4% 1 Other,16% electrical, commercial and industrial machinery), which I are considered the top three subindustries in advanced Primary(metals, manufacturing.3 The high concentration of these nonmetallic, subindustries in Buffalo Grove is expected given the Village's Petro/coal),4%_ location between northern Cook County and Lake County. Chemicals and plastics,7% The prevalence of manufacturing, especially advanced Computer/electronics*,11% manufacturing, provides various economic benefits to the Food/Beverage,8% Village. Economists estimate that each manufacturing job creates between two and five additional jobs in related and unrelated industries.4 Moreover, advanced manufacturing Furniture and Apparel,l0% workers are generally well-paid. According to EMSI's Average Earnings by Industry, manufacturing employees in Buffalo Grove earned an average of $120,000 in 2014, which is 40% higher than the average annual earnings of all Buffalo Grove workers. These high earnings also have Source:EMSI,Lake County Partners,CMAP,and Village of Buffalo Grove. iwenuieuui If indirect economic benefits for the Village as workers also represent potential residents as well as customers for local eateries, retailers, and other commercial venues. 2.CMAP,Metropolitan Chicago's Manufacturing Cluster A Drill-Down Report on Innovation,Workforce,and Infrastructure,2013 3.CMAP,Metropolitan Chicago's Manufacturing Cluster A Drill-Down Report on Innovation,Workforce,and Infrastructure,2013 4.CMAP,Metropolitan Chicago's Manufacturing Cluster A Drill-Down Report on Innovation,Workforce,and Infrastructure,2013. Buffalo Grove Economic Development Strategic Plan Page 10 millennial workfon:e, who cannot find housing options oonduoive to their needy or preferamenitiey. neighborhood The majority (80%) of the workers employed in Buffalo oharaoteriytoy' �' d Grove commute from Cook and Lake Counties. Only 8.2% housing types tl` e of workers are Buffalo Grove residents vvith approximately not traditiona dentified by outreach r 20% of workers originating from DuPage County. McHenry consistently fou efforts ��nC� housing » County, or other oountiey in the region. Workers mainly suburban oon«n«u»iti' studies is �� jobs- commute by oar and drive solo to work. Hovvever, a few Research indicates t� housing spatial uti|ize public tranypo�ation optiony including K4etra and n«i||e»»ia|y high|y «a| N mismatch." N Pace Buy. vva|kahi|ity; bicycle a. u� �~ public tranyportafion accessibility; nnixed'uye, denser areas-, A grovving concern identified by outreach efforts and and ynna||er housing unity — both in square footage and in housing studies is a jobs-housing spatial nniynnatoh the number of hedroonny.' In terms of tenure, studies show in Buffalo Grove. Thiy mismatch occurs when homes that thiy demographic is interested in renting, as well as oonduoive to workers' preferences are situated far from hon«eo««»eryhiP.» their employment centers. The ohy'houying nniynnatoh ' Another challenge, ypeoifio to the advanced manufacturing appears to he a pa�iou|ar problem for the emerging is the vvidening workforce gap. Advanced manufacturers are seeking highly-skilled and educated workers-, however, lingering negative perceptions have discouraged talented students and workers from entering into the manufacturing induytry. |nduytria| buyineyyey, as well as office businesses in the Vi||age, have expressed use for or interest in workforce development programs. Workery, reyidenty, and employers in the Village have aooeyy to several workforce development programs but these programs are not well utilized. Workforce development ypeoia|iyty feel that the lack of awareness and utilization is a result of historically poor coordination and collaboration between workforce development providers and employers. However, current leaders are cognizant of these issues and are working to change the tide. Outreach findings indicate that businesses desire stronger oonnnnunioationy and relations vvith the Village. Until recently, the Village lacked a Community Development Department that can carry out such functions. Photo Credit:Jobfairing.com s Nielsen,mn°""/m"Breaking the Myths,zm4. Urban Land Institute,Generation Y.America's New Housing Wave,zm1. Buffalo Grove Economic Development Strategic Plan v. Nielsen,mn°""/"/"Breaking the Myths,zn1^. Page 11 Urban Land Institute,Generation Y.America's New Housing Wave,znu. Buffalo Grove will maintain, strengthen, and grow its businesses and employment, as well as continue to be a Key employment center for the region. well as any other relevant news. Stakeholders can also Improve communication and relations with current and provide feedhaok, voice oonoerny, network, and develop potential buaineaaea, ovvnera, and the development a good rapport vvith fellow huyineyyey, hrokery, the community. Chamber of Commerce, and Village staff. Buffalo Grove should enhance communication and B. Network with businesses at Chamber of Commerce relations vvith the business and development community events. The Buffalo Grove'Linoo|nyhire Chamber of by developing a yet of communication strategies that are Commerce provides progranny, yen/ioey, and networking oonyiytent, ytruotured, and diverse (nevvy|ettery, ennai|, opportunities for its nnennhery. Village staff should phone, yooia| media and in-person). Strategies that retain maintain its partioipation in nnegor Chamber events such these characteristics optimize the ahi|ity for all parfiey to as monthly |unoheony, hoard nneetingy, and the annual exchange infornnation, oo||ahorate, and eytah|iyh meaningful Business Connection Summit. Chamber aotivitiey provide partnerships. a hui|t'in platform for Village staff to communicate and grow relationships vvith local businesses. C. Create a business e'nevva|etter. In addition to A. Develop regularly scheduled roundtable hosting roundtable discussions and attending Chamber discussions. To increase collaboration. the Village should eventy. Village staff should also develop a periodic host economic development roundtable discussions e'nevvy|etter to all businesses in the Village. Thiy type and invite huyineyyey, property ovvnery, real estate of outreach is advantageous because it ensures equal hrokery, and the Buffalo Grove'Linoo|nyhire Chamber of aooeyy to infornnation, regardless of attendance at Commerce (Chamber). meetings or Chamber events. The e'nevvy|etter can The meetings vvi|| provide frequent updates about various progranny, provide an opportunity "The Village should projects, and plans occurring in the Village and ypot|ight for the Village to host economic businesses as further discussed below. diyouyy energy'effioienoy development opportunities, local roundtable O. Schedule on-site visits at businesses and i nfrastructure projects, discussions." brokerages. On-site vi sits enable pa t pant s to workforce development achieve a superior level of engagement. Conyequent|y, programs, induytry Village staff should visit and tour local businesses to reyouroey, county and further understand their operafiony and needy. Sinni|ao|y, regional initiativey. as Village staff should schedule in-person meetings vvith Buffalo Grove Economic Development Strategic Plan Page 12 commercial brokers. An ideal forum is the weekly and development. Although they work hand-in-hand, internal office meetings held by commercial brokerages. branding and marketing are distinct strategies. A Many firms periodically invite municipal staff from brand represents an entity and is expressed through a various communities to attend such meetings and combination of various elements such as a logo, font, discuss available properties and the community's vision color scheme, and/or other graphics. A brand's main for the future. This "road show" can help advertise objective is to help establish an identity for the entity by business and development opportunities in the Village, which it can distinguish itself from others. as well as Buffalo Grove's proactive approach towards economic development. On-site visits at businesses or The Village is currently in the midst of a rebranding brokerages should be scheduled on an as-needed basis. effort and should continue work on this project. A freshened logo, font, and color scheme across all E. Enhance the Village's Website. Websites have department communications, signage, and community become an essential and universal communication events will help foster a more modern and cohesive tool in today's digital age. Businesses, site selectors, identity for the Village. developers, brokers, and other stakeholders utilize municipal websites to learn about economic Once an updated brand is chosen, the Village should development information such as a community's develop a marketing plan. Such a plan would detail demographics, economic profile, vacant spaces, strategies as to how the Village's brand and other development and redevelopment opportunities, and key information can be communicated to economic entitlement process. development players such as businesses, developers, Given the importance and brokers, media, as well as to realtors, schools, and widespread utility of this "The Village current and potential residents. tool, the Village should should look look to modernize and to modernize Sample activities from this marketing plan could include: enhance the economic and enhance d e v e l o p m e n t- r e l a t e d the economic Participating in business media and targeted webpages on the municipal development- advertising such as: Crain's Chicago Business website. Specific focus related webpages Journal, Site Selection Magazine, etc. should be placed to the on the municipal Working with site selectors. organization, presentation, website." content accuracy, and Engaging in partnerships with organizations such completeness of this as the International Council of Shopping Centers, ition. and the Urban Land Institute. nforma F. Continue work on branding and marketing campaign. Branding and marketing are key communication strategies to help attract businesses Buffalo Grove Economic Development Strategic Plan Page 13 Enhance support to local businesses. The Village should continue to provide optinna| customer service and support local businesses. Such efforts reinforce the Village's commitment to the business community and ultimately minimize business turnover and optimize growth opportunities. The action steps below provide ypeoifio strategies to help the Village enhance its support to local businesses A. Improve administrative forms and processes. The Village currently has an adnniniytra1ive process to gather infornnation. |ioenyey, and fees from businesses. This process has been incrementally improved over the yeary, however it can benefit from a more comprehensive revievv, vvhioh would ainn to ytreann|ine the process. Some ypeoifio improvements could include orea1ing a basic process-flow handout for businesses; combining and re-writing business |ioenye. tenant and uye, and other forms-, and reorganizing staff and front counter space. Processes can also be improved to offer more e'yen/ioey via the Village's vvebyite including on|ine permits and |ioenyey. These improvements can bolster the levels of effioienoy and customer service provided by Village ytaff, the ye|f'yen/ioe oapaoity of buyineyyey, and the quantity and qua|ity of data and infornnsfion collected from businesses. The enhanced data and infornnation collected can help develop amore accurate profile of businesses in the community as well as high|ight key trendy. B. Recognize businesses that are nevv, expandin0, or any making a notable contribution to the community. The Village can help recognize notable businesses through their existing communication channels such as Buffalo Grove Economic Development Strategic Plan Page 14 the residential newsletter, proposed business e-newsletter, � v c;L�c�,cv g g Villa e website, and other media. This reco nition could take the format of a "Business Spotlight' column which would include a brief narrative and photos of the business. C. Provide a welcoming package and schedule a meet and greet for new businesses. To celebrate, welcome, and cultivate a relationship with a new business, the J- Village should provide a welcoming package and meeting. The package should include things such as a welcome letter, list of available resources, and schedule g ;,' of key dates for business licenses, permits, and other administrative activities. Staff should also coordinate a ` (� meet and greet with new businesses, Village staff, and Village officials. D. Connect businesses with information and resources to meet their needs. Businesses can benefit from resources for varying operational, development, workforce, business, and financial needs. The Village should serve as a conduit for these businesses and connect them ;^ CpMMERCE with helpful resources to address these issues. Resources include programs and outreach offered by Illinois y Department of Commerce and Economic Opportunity (DCEO), Lake County Partners, Lake County Workforce, and Cook County Bureau of Economic Development. The resources can also include non-profits such as B-Impact _ Assessments, SCORE, and the Buffalo Grove/Lincolnshire Chamber of Commerce. Staff can help provide these _ a resources at roundtable discussions, e-newsletters, meetings, welcome packages, as well as through regular communications with businesses. Buffalo Grove Economic Development Strategic Plan Page 15 B. Work with local businesses (particularly Broaden and enrich the labor pool for local businesses. manufacturing businesses) and high schools to foster awareness of advanced manufacturing career Access to a talented and diverse employment base is opportunities. To build enthusiasm for the manufacturing critical for current and potential businesses. In fact, site industry, the Village can work with local high schools selectors claim that access to highly-skilled labor is one of and manufacturers to coordinate tours of advanced the top drivers in site-selection decisions. Optimizing the manufacturing facilities. These businesses can also skills and size of the labor pool includes ensuring programs present to high school classes and be integrated during are in place to meet the changing demands of the evolving career-day festivities. Such activities can be extended to workplace and continuing to broaden the geographical and various businesses outside of manufacturing, however psychological boundaries of the workforce. given the demand for advanced manufacturing workers, an emphasis is placed on that particular industry. C. Enhance workforce accessibility. The Village A. Facilitate partnerships between workforce should work with businesses and transportation development providers and local businesses. As discussed above, office and industrial businesses in Buffalo Grove have an expressed interest and need for tailored workforce development programs and services. The Village can help remedy these issues by facilitating partnerships between the Lake County Workforce, College of Lake County, Lake County Partners, Cook County Bureau of Economic Development, and local businesses. Through enhanced communications with businesses, the Village can stay abreast of any need for workforce training and relay them to the appropriate provider as necessary. At the same time, ,The Village can facilitate the village can partnerships between the Photo Credit:College of Lake County help workforce Lake County Workforce, development College of Lake County, providers with College County Partners, their outreach Cook County Bureau of efforts and Economic Development, market any a p p l i c a b l e and local businesses." programs. Buffalo Grove Economic Development Strategic Plan Page 16 providers to increase awareness and utilization of that often deter employees from using public transportation multiple transportation modes including trains, buses, regularly. A broader discussion of multimodal transportation cars and vans (solo and pooling), bicycles, and on foot. is included in Section Three: Quality of Life. Such initiatives can enhance employers' access to the subregional labor pool. This is especially true of millennial workers who prefer to live in denser environments such as Chicago or the inner-ring suburbs. One mode option is vanpooling. Vanpooling can provide ...... convenient connections between residential areas, public transit stops, and/or business parks. Pace has �/c'�Clp©©�lC1C� PC©C�fatY1S three distinct vanpooling programs: Traditional Vanpool, Employer Shuttle, and Metra Feeder. All three are The Traditional Vanpool program is designed for 5-13 em- described in the box to the right. ployees who lire and work in similar areas and have similar schedules. In this program, one of the participants is a primary Another option to enhance accessibility is the development driver of a Pace van and all riders pay a low monthly fare which of a ridesharing program, which matches employees with covers the van maintenance fares and associated expenses. similar origin and destinations such as residential areas or common transit stations. The Pace Ride Share website In contrast, the Employer Shuttle program allows vans to be provides a free matching service.7 These types of programs leased to an individual business or group of businesses for should be communicated to the businesses by Village staff at work-related passenger trips for a flat monthly fee. roundtables and through the e-newsletters. Staff should also help facilitate conversations between interested businesses Finally, the Metra Feeder program permits a Pace Van to and Pace. be parked at a Metra Station near a work site enabling 5-13 Other related activities include improving the commuter's participants to easily connect from the Metro Station to their "last mile." The last mile, refers to the final leg of the commute, worksite with a purchase of a Metra monthly pass or 10-ride which is normally from a transit station, bus stop, or drop- ticket as well as flat monthly fee. It should be noted that Me- off point to the worker's place of employment. As this leg is tra Feeders can be utilized at any Metra station including Buf- normally done on foot, the Village should pursue pedestrian falo Grove's Metra Stations(Prairie View and Buffalo Grove) off improvements, which include sidewalk repairs, crosswalk the North Central Line, as well as stations off the Milwaukee installations, tree plantings, and additional bus shelters. district North, Union Pacific Northwest, Union Pacific North These pedestrian improvements effectively minimize the and lines such as Mount Prospect,Arlington Heights, Palatine gap between transit service and the business destinations Lake Cook Road, Deerfield, and Braeside. 7 Pacebus.com Buffalo Grove Economic Development Strategic Plan Page 17 �' 87 l < KY• a t A'• l Ear � +� �, ��•i!il j '! %��, i 1 IT IL ih VAPP S y �. � K",.I.• ` rig 9 ,, .. 1 ............ experiencing higher rents and new construcfion.11 As of 2015, Buffalo Grove had over 10 million square feet of Buffalo Grove's particularly low industrial and flex vacancy commercial space and a vacancy rate of 7.7% (Table 2.1).11 rate is likely a result of its regional location. The Village's The majority (63%) of commercial space is industrial and location at the edge of both Cook and Lake Counties enables flex, followed by office (20%) and retail (17%). The distribution the community to access Cook County's activity and Lake of space in Buffalo Grove slightly differs from the North- County's tax structure." Moreover, the industrial and flex Central Submarket and the region, as these markets have space is in generally good condition. The majority (64%) of proportionally less industrial and flex space and comparably the space is considered Class B, while 32% is considered more retail space than the Vllage.9 Class C and 4% is classified Class A.13 Most of the properties are 25-30 years old and generally have 18-24 foot ceiling heights, which are deemed as low ceiling heights in today's market. .......................... Office ............................................... ..... ....... ..... .................. . ...... .................................................... �S. .......................... .................... ............................................... Office space has the Nghest vacancy rate (16.6%) among .......................... ................ ....................................... I . .... T. .......................... T ........... ...... .... the commercial property types in the Village as well as in W et % ..... .... .......... .. g% ........... -�u ............ I RM. d : im� 1. ................................................... :1 lh mt#. j A�M........ U 10i 3.r ............... ... ......... 0. .......... ........... ............... ................L.M.M................ .......... ......................................... .......................................................... the North-Central Submarket (18.4%), and the Chicago Metro Industrial and 6,551,527 3.4% 44,601,205 8.6% 1j71,0i9,362 7.8% Flex Region (13.9%). Such rates reflect the market's sluggish Office 2,093,054 16.6% 19,954,745 18.5% 465,117,297 13,9% recovery after the economic downturn. Analysts report that Retail 1,699,246 13.2% 22,376,030 9.7% 518,476,663 8.5% the office market is tied to state and national employment — and fiscal trends. Consequently, the state's fiscal challenges Total 10343827 T 7,7% 86,93 980 11,0010 2,154,613,322 9340 *Includes Deer Pa bKildeer6spncGrove d Indian Creek,Vernon Hills,Lincolnshire,Buffalo Grove,Wheeling, Prospect Heights, ou nt Pr et,A rlinton Heights,and Palatine. 8.Commercial real estate refers to any real estate intended to generate revenues.For purposes of this analysis, Source CoStar data and Village of Buffalo Grove. commercial real estate will be classified into three main types:industrial and flex,office,and retail.Traditional industrial space is often considered to be a warehouse that is mostly utilized for manufacturing, 9.The N 0 rth-Central Submarket includes the following communities:Deer Park,Kildeer,Long Grove,Indian Creek,Vernon Hills,Lincolnshire,Buffalo Grove,Wheeling,Prospect Heights,Mount Prospect,Arlington Industrial and Flex Heights,and Palatine. Of all property types, industrial and flex has the lowest iO.Ori,Ryan."'Good old days'return for industrial landlords.Crain's Chicago Business.February 23,2015. vacancy rate in Buffalo Grove (3.4%) as well as in the North- On,Ryan,"Here's One Sign of a Strong Economy."Crain's Chicago Business.April 13,2015. On,Ryan."Industrial Vacancy Falls to Lowest Level Since 2006."Crain's Chicago Business.July 21,2014. Central Submarket (8.6%) and the Chicago Metro Region ii.NAI Hiffman."Industrial Market Review First Quarter 2015." (7.8%). Such rates, which were generally 5 to 7 percentage 12.Cook County tax structure is disadvantageous for retail and industrial real estate.The county assesses retail and industrial properties at a higher percentage of market value than residential properties causing p6nts Ngher across these geograpNc markets 5 years ago, businesses to shoulder more of the property tax burden than residents.This tax structure has partially indicate the strengthening of the industrial and flex market. Coun contri buted to businesses relocating outside of Cook County,into neighboring counties,including Lake ty. Experts attribute the postve trend to varlous factors such 13.Class rankings reflect the building size,structure,and operating systems in the market area.Classes A,B, and C imply that these characteristics are excellent,good,and fair-to-poor,respectively as the reemergence of manufacturing, pent-up demand for industrial space, and the recovering economy.10 As a result of the positive absorption, the industrial and flex market is Buffalo Grove Economic Development Strategic Plan Page 19 and the relatively high unemployment rate posted in recent and "touch and feel" years have encouraged companies to operate conservatively merchandise.17 The « A key trend in the retail and/or look elsewhere to establish their operations. Other rise of e-commerce market is a shift toward factors influencing the market include the increased ratio of has contributed to experiential consumption." office space per employee, rise in telecommuting, and flight the shrinking retail of office space from suburban communities to downtown footprint and the CNcago.14 greater mix of tenants Most (58%) of the office space in Buffalo Grove is in shopping centers. A final key trend in the retail market is a considered Class B, while 17% is considered Class A and shift toward experiential consumption. Consequently, industry 24% is Class C. Most of the buildings were built between leaders are repositioning shopping centers away from the 1985 and 1997. Almost all are 1-2 stories, however, a few traditional retail format to a more integrated social gathering are 3-5 stories and the two Riverwalk Office towers are each center. These centers focus on dining, entertainment, leisure, 12 stories tall. and other experiential activities. Retail Overall, the retail spaces in Buffalo Grove tend to be The retail vacancy rate in the Village is approximately clustered in shopping centers along the major retail 13.2% which is 224,710 square feet. Some of the vacancy corridors. Furthermore, Buffalo Grove shopping centers are in Buffalo Grove and in the greater region is attributable to anchored by grocery stores with smaller centers oriented to the closing of Chicago-area Dominick's grocery stores. The service businesses. The Village's retail centers contrast with former Dominick's stores in Cambridge Commons (35,000 the nearby anchor-oriented regional shopping centers such square feet) and Chase Plaza (68,000 square feet) represent as Northbrook Court, Deer Park Mall, and Randhurst Village. roughly 103,000 square feet of vacant space. Excluding These regional centers are larger, draw from a regional these two former Dominick's stores, the retail vacancy rate is population base, tend to have a more inward configuration, approximately 7%-8%. and provide a deeper variety of general merchandise and services. Overall the national retail market is improving. However, analysts are noting that retail absorption is concentrated in the premier (top 10%-20%) centers and locations, while other retail centers are struggling.15 At the same time, e-commerce continues to gain momentum and today 6%- 7% of retail purchases are made via e-commerce.16 It should be noted however, that most consumers still prefer in-store shopping to procure staples, fill an immediate need or want, 14.CBRE."Chicago Suburban Office MarketView Q1 2015." Heschmeyer,Mark."Changing Office Trends Holds Major Implications for Future Office Demand."CoStar.March 13,2013. On,Ryan."Rents Keep Rising in Chicago's Top Office Towers."Crain's Chicago Business.June 15,2015. 15.Maidenberg,Micah."Retail Landlords Gain,But Recovery'Not Lifting All Boats."'Crain's Chicago Business.February 9,2015. 16.E-commerce includes all mobile or m-commerce,which are purchases made by tablets and mobile phones.Quarterly E-commerce Sales.U.S.Census Bureau News.May 15,2015. 17.Shopping Centers:America's First and Foremost Marketplace.International Council of Shopping Centers.2014. Buffalo Grove Economic Development Strategic Plan Page 20 corridors, retail/commercial main typologies. industrial/office corridors, and mixed-use corridors. The Village does have A preliminary retail market analysis found that the Buffalo some commercial development outside of the commercial Grove trade area has opportunities for retail growth. The corridors such as Woodland Commons (Half Day Road and trade area is currently experiencing a net sales leakage of Buffalo Grove Road), and Millbrook Business Center (KIlbrook $17.7 million. The greatest opportunities for retail growth Drive and Half Day Road). are in specific retail categories as listed in Table 2.2. The major commercial corridors are listed below: More detailed information on the preliminary retail market analysis can be found in Appendix C: Market Assessment. - Northern Industrial/Office Corridor • Southern Industrial/Office Corridor - Dundee RetaYCommer6al Corr�dor • Town Center Retail/Commercial Corridor .............................. ....................................................... ��:��E� .. .......................... . ................... ........ .......ll............................. ..... W - Lake-Cook Mixed-Use Corridor .............. ,,............... .. ................... ............................................. ........................................................................... ...................... Goods • Milwaukee Mixed-Use Corridor Motor Vehicle&Parts Dealers Carmax,Torte,O'Reily Auto arts $399,180,000 Bldg Materials Garden Equip.& Lowe's,Menards,Home Depot $4,4840,000 Supply Stores In addition to these commercial corridors there are two station Food&Beverage Stores Jewel Osco Sunset Foods, $141,530,000* areas'. Trader Joe's Gasoline Stations Speedway,Amoco,Mobil $144,070,000 • Buffalo Grove Metra Station Area Clothing&Clothing Accessories Macys,Khol's, ars Mhalls $30,430,000 Stores - Prairie Mew Metra Station Area Dining Culvers,Olive Garden,Chili's, Food Services and Drinking Texas Roadhouse Starbucks, $178,280,000 Places Buffalo Wild Wings I Both station areas were the subject of the Mllage of Buffalo *Source appears to include sales from Domincks grocery stores,which have closed. Grove Transit Station Area Study in 2007. This plan, which was Source ESRI Business Analyst and Buffalo Grove. never adopted, is currently used as a guide. The Buffalo Grove Metra Station Area is a part of the Northern Industrial/Office Corri dor an �s airy bW t -out. The Prairie Mew Metra Station d f Area mostly consists of unincorporated property, however many property owners and developers have expressed interest The Village's key subareas include the commercial corridors in annexing into the Village and redeveloping this area. and the station areas. The Village's commercial corridors house most of the commercial real estate in the Village. The following map illustrates all the commercial corridors and These commercial corridors can be classified by three station areas. The subsequent pages provide a deeper dive into the corridors and station areas with an overview of land uses, major or tenants, square footage, and vacancy rates.", 18. All vacancies are noted are as of April,22,2015. Buffalo Grove Economic Development Strategic Plan Page 21 _ 4 `R V Map Legend Economic f. Development FRM a ...................Area Village #, ®. Boundary ..... .. . ....... ... ...... . Commercial Corridors: • Northern Industrial/Office Corridor vtn • Southern Industrial/Office Corridor All • Dundee Retail/Commercial Corridor i [ Aptakisic R'd 1 ¢�° • Town Center Retail/Commercial Corridor Lake-Cook Mixed-Use Corridor Milwaukee Mixed-Use Corridor McyRa Deerfield Pkwy e Station Areas: Buffalo Grove Metra Station Area o;• _ �' Prairie View Metra Station Area z � ® � Lake-Cook Rd - 4 s I ?j ?;rr�'�i-,�t1�• ' �� r� 11�`�f� ia..r � �.^:.4 ° 7 _. a '.._ .... 7F-'' •may t'�` ' +#, N + i °;4t a5.yS�^ef j;Gt , 7 .. IINFx811'.�. �cs"144. 2 �T , 1 I I �$ .Rf n'� 5 a;8• Sg sp•�r�e 5� �� ra+nip ��F;"�� Dun>"+�1 y �+•,.-'-y' �``a'"�`7�Ecs:�i9 $� r ��.� "•.f�� _ � '� '�,1 1a4:. '•$gYgTyl iTr .c ��r�`,�I MWIM RZ .fig i 0 0.5 1 2 1.. •+ Vii' t Miles Buffalo Grove Economic Development Strategic Plan Page 22 Map Legend Buffalo Grove Single-Family Office Agriculture Metra Station Residential llme Institutional Open Space . .. ...... ..... ..... Village Boundary Multi-Family Industrial Vacant Land rr Residential Unincorporated Transportation, Hydrology Prlmary Industrial corridor in the M I lage. Limits Retail, Entertainment,& Communications, I� Includes the Buffalo Grove Metra Station. Hotel Utilities,&Waste 51! 11111111 ;J11 I ;1�11r'111111W Example companies include- Siemens Industry, Flex, to. A Schuletes Precision Manufacturing, Arxium (former Auto Med Technologies), and Belmont Trading Company. Industrial and Flex Space w -Approximately 4.7 million square feet. _j U) -Vacancy Rate: 4.3%. Uj -Corporate parks include: Abbott Business Center, o 07 Aptakisic Creek Corporate Park, Rogers Center for �v R Commerce,Arbor Creek Business Center, the Corporate Grove, and Covington Corporate Center. CORPORATE ........ ...... U 40 IN -------------------- 0 0.175 0.35 0.7 fflffio Miles l Buffalo Grove Economic Development Strategic Plan Page 23 • K4ixof industrial and flex, and office space vvth some retai • S|ight overlap vvith K4i|vvaukee K4ixed'Uye Corridor • Example companies nclude: Yaskawa America Inc, Dow Chemical Company, and Banner Supply. Industrial and Flex Space: Office Space -Approximately 1.6 nni||ion square feet. +4pproxinnate|y825.000 square feet. -Vacancy rate: 0.5%. -Vacancy rate: 15.8%. -Corporate parks ino|ude: Buffalo Grove Commerce Center. Offioe complexes ino|ude: Rivervva|k and Chevy Chase Business Park West, and Chevy Chase Chevy Chase East. Business Park. Map Legend Village Boundary Multi-Family Residential Industrial Vacant Land Unincorporated Limits Retail,Entertainment,& Transportation, Hydrology Hotel Communications,Utilities, &Waste Office H "ST Golf Course Miles Buffalo Grove Economic Development Strategic Plan Page 24 • Various"highway-oriented" retail uses as well as a mix of other uses. • Example retailers include: AU, Sam Ash Music Store, Discovery Clothing, O'RHey Auto Parts, Rogan Shoes, Garden Fresh Market, First Midwest Bank, and Walgreens. Retail space -Approximately 625,600 square feet. -Vacancy rate: 7%. -Shopping centers include: Plaza at Buffalo Grove, Stratmore Square, Plaza Verde, Grove Court,Village Plaza and Cambridge Commons. Map Legend Single-Family Village Boundary Residential Office Open Space Unincorporated Limits Multi-Family Institutional Vacant Land Residential Retail, Entertainment, Transportation, & Hotel Communications, Utilities,&Waste jpqr A Z—A ............. 171- R 0 Z� —41V CO rs aw PM SIP PEW owl 0 0.275 0.55 1.1 14 X,;S" Wiles Buffalo Grove Economic Development Strategic Plan Page 25 ' �� ; � U Map Legend Buffalo Grove Single-Family Institutional ^ Generally retai| and oonnnneroia| uses that are anchored Transportation... Multi-Family Communications, Residential Utilities,&Waste b Nogalk Village Boundary y the Town Center development. Unincorporated Retail, Open Space ^ Example Retai|eryino|ude: Brunyvviok, Binny'yBeverage Hotel Hydrology Depot, Buffalo Grove Theatre, Jevve|'Oyoo. Blue Svvirn Office Sohoo|. Wa|greeny. Superoutu, Lou K4a|nsfi'y Pizzeria, and Deerfield Bakery. Retail space -Approximately 37G.000 square feet. -Vacancy rate: 82%. -Shopping centers include- Town Center, The Grove, Buffalo Grove Shoppey. XX Wiles Buffalo Grove Economic Development Strategic Plan Page 26 Office space: .. . . . .. -Approx�mately 572,000 square feet. • Mix of office, retail, institutional, and Buffalo Grove Golf Course -Vacancy rate: 23%. • Example office users and retailers: NorthShore University Health, -Corporate parks include: Buffalo Grove Business Park. Templar Trading, Baskin-Robbins, Buffalo Restaurant and Ice Cream Parlor,Wyndham Garden Hotel, Countyline Tavern, Retail space Premier Eye Care and Surgery, and PINIC Bank. -Approximately 103,000 square feet. -Vacancy rate: 67%. -Major shopping center: Chase Plaza. Map Legend Retail,Entertainment, Village Boundary & Institutional Open Space Hotel Transportation, Unincorporated Limits Office Golf Course Communications, Utilities,&Waste CH W ----------;-- 0.5 Miles Buffalo Grove Economic Development Strategic Plan Page 27 ................... .......... .......... Map Legend 1=111 Village Boundary Mainly retail properties (MI Mexico restaurant, Speedway Unincorporated gas station, and Grill on the Rock restaurant), as well as Limits residential, industrial, and vacant properties. Single-Family Fragmented corridor. Properties are in Buffalo Grove, Residential Riverwoods, and unincorporated Lake County. Multi-Family Approx 110 acres of vacant land Wftn the Buffalo Grove Village limits. Residential Retail, Much of the area lacks a unified development approach and was Entertainment,& Hotel improved under Lake County's regulations in a piecemeal manner. This Office area also lacks utilities and has challenges associated with floodplain. Industrial Some overlap with Southern Industrial/Office Corridor. Transportation, Communications, Utilities,&Waste E- 11 LE-:- Open Space Vacant Land E:]Hydrology 00 -IM ... 0' WdA eme-0,=100 On 1% 2S *W mm_orl-, 0.175 0.35 0.7 Miles N 09 Buffalo Grove Economic Development Strategic Plan Page 28 • Mostly in unincorporated Lake County. , Exhihitytw/o diyfinot types ofdevelopment patterns, • Land uyeyvvithin theVi||age are generally residential (Noah's nuua|, hamlet (mainly uninoorporated) and suburban ` deve|opnnent /inoorpore�ed Buffalo Grove) Landing, Easton Tovvnhonney. vvithannixof other uses such ` '. as retail (Prairie House Tavern), inytitutiona| (Sunrise of , Developers have expressed interest in inveyting Buffalo Grove) and vacant land. inthiyarea. • Unincorporated land uses are geneua||yreyidentia|. industrial, , Served by the existing PrairieVievv K4etra and some oonneroa|. yta1on on the North Central line. It iy also vhn walMng distance to Stevenson High School. AW Li :_J Map Legend Praire View Metra Single-Family <I Station Residential Unincorporated Transportation, 0 Limits Communications, 10\ MAW XV Institutional Utilities,&Waste Under Construction Office Retail, 2mllffiz Vacant Land Village Boundary Entertainment,& St RID- Miles WM Buffalo Grove Economic Development Strategic Plan Page 29 Buffalo Grove will sustain and qrow its economic b s e, with new, redeve"loped, improved, and maintained commerciar development that is functional, appealing, and contributes to the village's competitive position. defined vision for each of Create a vision for the community. the oonnnneroia| corridors "Subareas of an d stati on areas. These immediate focus Th e vi si oni ng process i y a key pa t of local planni ng and areas represent the h idi ng should include economic development. Thiy process empowers reyidenty, h|ooky to the oonnnnunit/y the Lake CC,C,k h uyi neyyey, elected offi6als, and other stakeholders to economi c future and Road CC,[[idC,[ paint a picture of their oonnnnunit/y future landscape. Once a more ypeoifio vision and Prairie \/ie\8/ eytah| h d. these vi si ons become the f uun daton to guide i s necessary to gu id e I Station / nea." N development, land use deoiyiony, and related po|ioiey. The the development and fo||ovving action steps represent visioning projects for Buffalo redevelopment of these Grove to undertake. areas. Un|ike the Comprehensive P|an, vvhioh is a long- term projeot, the subarea plans are more tinne sensitive �\..... and should he considered a high priority given the immediate interests by developers to invest in these A. Update the Comprehensive Plan. The Vi||age'y areas. Subareas of immediate focus include the Lake- current Comprehensive Plan was drafted in 2009 Cook Mixed-Use Corridor and Prairie Vievv K4etra Station and out|iney the long-term vision for the community Area. over a 10'15 year period. The plan broadly covers transportation. land uye, natural resources, houying. The vision for the subareas should promote development economic deve|opnnent, community deyign, and other that is appropriate to the context of the surrounding elements in the Vi||age. area and development. Such discussions should also evaluate vvhioh, if any, subarea should become aoentra| The 2009 Comprehensive Plan is nearing the end of business district (CBD). Many stakeholders expressed its shelf Me. Furthernnore, the current plan does not a desire for a C !D i / Buffalo Grove. Many noted that provide long-term strategies and reoonnnnendationy. central business districts help foster a sense of identify. Comprehensive plans should he re-evaluated and/or community oharaoter, and place. K4oreover, such a updated every 5'10years yo that it can stay current vvith center can generate economic aotivity. long-term trendy. Consequently, Buffalo Grove should update its Comprehensive Plan prior to 2020. B. Develop a vision for subareas and consider creating a central business district. To complement the Comprehensive P|an, Buffalo Grove should create a gill Buffalo Grove Economic Development Strategic Plan Page 30 Various resources are available to help in the visioning process. The Village should utilize the 2007 Village of Update the Buffalo Grove Municipal Code. Buffalo Grove Transit Station Area Study as a base for visioning the station areas. This study should be The Buffalo Grove Municipal Code (Code) contains revisited as it provides useful concepts and plans. Other various regulations that govern the physical development resources include the Urban Land Institute Technical of the Village. Currently, the Code follows a traditional Advisory Panel (ULI TAP), Regional Transit Authority organizational format with land use, development, and (RTA), Chicago Metropolitan Agency for Planning (CMAP), zoning regulations separated in various documents. This and consultants. type of organization can create disjointed, duplicative, and sometimes even conflictive regulations that are C. Evaluate opportunities to expand municipal cumbersome to understand and enforce. Moreover, the boundaries. Several hundred acres of unincorporated Code's content should be updated to reflect the ideas land are dispersed in various locations Wffn and presented in the existing or upcoming community plans adjacent to the Village. These unincorporated properties as well as current regional building and development are potential opportunities to bolster the Village's tax standards. The following action steps look at both base. Some of the unincorporated areas have been streamlining and updating the Code. designated to the future jurisdiction of Lincolnshire or Buffalo Grove via the Boundary and Planning Agreement, while others are not tied to any agreements. A. Consider developing a unified development The Village should evaluate opportunities to continue ordinance. A unified development ordinance (UDO) to annex properties where appropriate. Specific focus combines various sets of development regulations should be paid to the Milwaukee Mixed-Use Corridor and into a consolidated the Prairie View Metra Station Area as several property document. TNs "A unified development owners in these subareas have expressed interest type of organization ordinance (UDO) in annexation. The study's find�ngs, along with the enhances the clarity, combines various VIlage's vision for areas and property owners' interest �n consistency, and sets of development annexation, would all factor into annexation phasing and coordination of the regulations into implementation. regulations. For a consolidated example, terms used document." throughout the Code can be defined once rather than multiple times in various sections. Similarly the authority of the Planning and Zoning Commission can be discussed in one place rather than separately in the Zoning Code, Development Code, and Floodplain Regulations Sections. Consequently, the Village should explore creating a UDO. Buffalo Grove Economic Development Strategic Plan Page 31 B. Update the Zoning Code to reflect visions. The Village's Zoning Code should implement a community's plans. Consequently, the Village should update the A. Create and update an inventory of commercial structure and content of the Zoning Code so that it properties. The Village should utilize data sources such aligns with objectives set forth in the Comprehensive as Co-Star, along with information from brokers as well Plan and future subarea plans. The Village should also as property owners to create and maintain a commercial explore a form based code as part of its evaluation. properties inventory. In this inventory, the Village can classify and analyze properties based on condition, age, C. Revise the Sign Code. The Village of Buffalo Grove's size, ownership, and when possible, the owner's future Sign Code has been noted by stakeholders and staff plans for the land. Such a tool could help identify, to be convoluted and outdated. Staff should research organize, prioritize, and communicate future development and explore best practices for modern signage in terms opportunities. The inventory should be established of both content and process. Once this analysis has within a database as well as displayed visually on a been completed, staff should work to implement them map. Appropriate data and information should also be into the code. Updating the sign code can help provide displayed on the website for site selectors and brokers. clarity, streamline the process, and potentially reduce the The inventory should be updated on an as-needed basis. number of variations requested. B. Continue to refine Buffalo Grove's planning, D. Modernize other sections of the Buffalo Grove development, and permit processes. The length of Municipal Code as needed. In addition to the Zoning time required for a development project to progress Code, other sections of the Code should be updated. from application to breaking ground is a key factor in The Village is currently updating the Floodplain economic development. The Village has already taken Regulations section of the Code so it aligns with both meaningful steps to streamline this process. For example, Lake County and Cook County standards. The Village Buffalo Grove recently combined the Zoning Board of should continue such efforts and then examine the Appeals and the Plan Commission as well as streamlined Code's Building and Construction section. Currently, this the Appearance Review Committee approvals. section adopts the 2006 International Building Code (IBC) by reference; however, more recent IBCs are available The Village should continue to explore opportunities to and should be considered for adoption. simplify, clarify, and streamline the entitlement process. This can be done by updating, organizing, coordinating, Facilitate 'development and redevelopment and enhancing materials for developers. These materials commercia l opportunities. include applications, workflow diagrams, Planning and Zoning Commission timelines, The Village Code, and the The Village should actively facilitate development and zoning map. In addition, the Village should continue to redevelopment opportunities to help implement visions laid evaluate internal processes and operations in receiving out in community plans. Specific actions include profiling and reviewing plans. properties, streamlining the entitlement process, and providing economic development incentives as needed. Buffalo Grove Economic Development Strategic Plan Page 32 Commonly Used Local Economic Development Incentives C. Continue to offer site-specific economic development value of a property when a TIF district is created.The Village, county,township, school districts, inoendvea, while exploring opportunities to offer and other local governments continue to collect property taxes based upon the frozen assessed economic development incentives for nnu|d'aite value.Any increase in the property's assessed value generates the TIF increment, which is then districts. Sometimes ypeoifio sites or nnu|ti' site areas have development challenges that require assemblacie, streetscape and environmental cleanup. TIF funds can be front-loaded or pay as you go. inoentivey to encourage development due to the gap between expenses and the rate of return. The Village of Special Service Area(SSA)/Special Assessments Buffalo Grove has faced such situations and implemented A special service area(SSA) refers to additional,minor property taxes that are levied on a defined economic development inoentivey for ypeoifio ytiey. These inoentivey have been in the form of shared sales mercial facades, enhanced snow and trash removal, marketing, and special events. SSAs have tax agreements and include Connexion as well as Bob been successfully used by the Village to help facilitate office and retail development by Hamilton Rohrnnan Pre-Owned Superstore. Partners at the northeast corner of Lake-Cook Road and Arlington Heights Road.Similar to SSAs are special assessments.Municipalities can levy special assessments to pay for the construction The Village should continue to explore the use of inoentive agreements when warranted to fi|| potential finanoia| gaps. Business Districts In addition. the Village should explore opportunities to offer A municipality can create a business district to implement improvements to that specific area. inoentivey to nnu|ti'yite diytrioty, vvhioh can create a more These improvements can include a variety of development activities such as plan preparation, coordinated and connected development or redevelopment land assembly,infrastructure,building rehabilitation or construction,and financing costs.To fund the business district,theVillage would create a business district plan that outlines a budgetfor the area. Economic inoentivey should he offered if such inoentivey Industrial Revenue Bonds(IRBs) lead to robust economic benefits. These benefits may Industrial Revenue Bonds are tax exempt bonds issued on behalf of businesses that can be used nova- include but are not |innited to: strengthening the Village's tax tion and new construction. A wide variety of businesses, including nontraditional industrial busi- haye, creating jobs, and ytinnu|ating new development. The nesses such as printing firms,qualify under the IRB guidelines.The Village of Buffalo Grove hosts box on the right provides an overview of oonnnnon|y used the clearinghouse pool on behalf of Lake County Partners where this program is promoted and local economic development inoentivey. regularly utilized. Property Tax Abatements a portion of real estate tax on certain types of property.Property tax abatements may be used to encouraged a business to establish,rehabilitate,or expand within the municipality. Sales Tax Rebate Agreements Sales tax rebates are incentives where the Village offers to rebate a portion of sales taxes gener- ated from the businesses backtothe business or the developer for improvements on the property. It is important to ensure that safeguards are in place when considering revenue sharing agree- ments.These safeguards may include: minimal upfront exposure,rebates are not paid until sales revenue is generated,caps are placed on total dollars to be paid,recapture provisions are in place to assess certain penalties if a business closes or relocates elsewhere. Revolving Loan Fund A Revolving Loan Fund(RLF)provides financial support and assistance to new or expanding busi- nesses through the use of low-interest loans for construction, property rehabilitation and land acquisition.Typically, a RLF is established through a grant or one-time dollars set aside for the central fund.A RLF gets its name from the revolving aspect of the loan repayment, where the Buffalo Grove Economic Development Strategic Plan central fund is replenished as individual projects pay back their loans,creating the opportunity to issue more loans to new projects. Law�� Use �� 0av�Um�moe�� cmmnnm�nd��Um� � Encourage environmentally sustainable retrofits and development. Efforts to improve the environmental yuytainabi|ity of existing and proposed bui|dingy equate to long-term cost savings for bui|ding users and tenants. K4oreover, such improvements help the Village's oonnnneroia| development remain oonnpetitive in the market. The fo||ovving action steps address Photo Credit:University^fMinnesota these issues. A. Promote energy efficiency .00p[oV|ng a programs. improving a facility's ene[g\/- faoi|ity'y energy'effioienoy efficiency is is a universally sought a universally improvement as it reduces sought energy' oonyunpton' and improvement" N costs. The Village should lead thiy effort by he|ping businesses navigate through steps to improve their energy effioienoy and uti|ization of renewable energy. As part of thiy process, the Village should continue and enhance its relationships vvith uti|ity providers and other energy effioient partners and connect them vvith huyineyyey. For example, the Village can work vvith ConnEd to promote its Smart Ideas Energy Effioienoy Program. Thiy program aims to help large businesses reduce their |ighting use by more than 50% vvith a |ighting control system. B. Establish sustainable standards. The Village of Buffalo Grove can also encourage sustainable development by adopting standards and inoentivey that incorporate green bui|ding concepts into both existing and new structures. Village staff should lead discussions vvith the Planning and Zoning Connnniyyion, Village Board, and puh|io that explore creating voluntary or inoentive'bayed programs to achieve sustainable bui|dingy. Buffalo Grove Economic Development Strategic Plan Page 34 Buffalo Grove Economic Development Strategic Plan This page intentionally left blank. Page 35 1 R ► .,g 1 • ♦ yv ♦ '1 Y *A1, ............ Per U.S. Census data Buffalo Grove's popu|sfion is ednnoyt 42.000. The ViUage'yaverage household size of 2.57 iyy|ight|y lower than Cook County, and significantly smaller than Lake Single-family* 11,599 69.6% 988,629 45.8% 205,475 80.4% County, as shown in Table 3.1 below. Between 2000 and Multi-family(2 5065 30.4% 1,171,866 54.2% 50,124 19.6% 2013. the Village's population y|ight|y decreased by 3%, vvhioh units or more) is comparable to the population deo|ine in Cook County ('3%) Total Housing 16,664 _100.0% 2,160,495 100.0% 255,599 100.0% but contrasts vvith the population increase in Lake County (Q%). *Includes attached and detached single family **Total,excluding mobile,boat,RV,van,etc Source:2009-13 American Community Survey,U.S.Census Bureau Households 16,167 1,933,335 241,072 Occupied 16,167 97.0% 1,933,335 89.5% 241,072 94.3% Average Household 2.57 2.60 2.82 Vacant 497 3.0% 227,160 10.5% 14,527 6.0% Size Source:2009-13 American Community Survey,U.S.Census Bureau Total Housing 16,664 100.0% 2,160,495 100.0% 255,599 94.3% *Total,excluding mobile,boat,RV,van,etc Source 2009-13 American Community Survey,U.S.Census Bureau T�b�� 31 E�i�rnsda d �opu�s�ion Huu�oho�do. �nd Houoehu|� 3i�e. 2Ol� T��|e 3 � Eodrns�ad Hou�in� Qocup�n�y �n� Tenure �Dl3 Approximately 16.700 housing unity occupy the residential areas in Buffalo Grove. The Census reports that 70% or 11.600 unity are ying|e'fanni|y homes. As of 2013. the Village has a |ovv residential vacancy rate of 3%, vvhioh is lower than Cook County and Lake County's rates of 11.7% and 68%. respectively. Among the Village's occupied unity. approximately 81% are owner occupied vvhi|e the remaining 19% are renter-occupied properfiey. The high rate of owner- occupied unity is understandable given the dominance of ying|e'fanni|y homes. Buffalo Grove Economic Development Strategic Plan Page 37 Overall, Buffalo Grove residents are high|y "�� .�n a VVhole, 25�ears 29,432 N/A 3,484,571 N/A 448,708 N/A educated, vvhite oo||ar household an over fanni|iey Nearly all /Q7��) � ` ' incomes in BUffalC, High school of Buffalo Grove residents Grove exceed that higher have a high school dip|onna of Lake and Cook and the nnegority /G4Y�) N ` ' <�C�U�ti�9�" N have a bachelor's' ' degree.. �� Source 2009-13 American Community Survey,U.S.Census Bureau These rates of educational attainment are higher than that of Cook and Lake Counties. Tab|e 3G Eetirnat�d Huu�eho|� |n-urne. 2O13 According to the |||inoiy Department of Employment Seourity, Buffalo Grove had an unemployment rate of 5.3% in 2014. The leading source of work for Buffalo Grove residents is NN: MM educational yen/ioey, health oare, and yooia| assistance as Lessthan 1,730 10.7% 462,067 23.9% 33,268 13.8% they employ 212% of residents. Other nnegor industries include profeyyiona|, yoientifio, nnanagennent, adnniniytrative, N5:000 to 21409 14,9% 435,000 22,5% 43,393 18.0% and waste management services. On the vvho|e, household incomes in Buffalo Grove P4:999 1 E5:000 to 21280 141% 233,934 121% 32,053 13.3% significantly exceed that of Lake and Cook Counties. The median household income in Buffalo Grove is $94.391 vvhi|e i00,000 to 3,654 22.6% 253,267 131% 42J88 17.5% Cook County and Lake County have median household incomes of $55.548 and $77.649. respectively. Approximately 47% of households in Buffalo Grove earn over $100.000. Total 16J67 100.0% 1,933,335 100.0% 241,072 whereas 24%'39% of households in Lake County and Cook Households - County fall vvithin that bracket. $54,548 $77,469 Income -F Median Household $94,391 Source 2009-13 American Community Survey,U.S.Census Bureau Buffalo Grove Economic Development Strategic Plan Page 38 .N41 Buffalo Grove has several great amenities that contribute to its rich qua|ity of |ife and community character. Amongst Photo Credit:Stevenson High So»^^| these amenities are the yohoo|y, parky, and po|ioe and fire services. Stevenson High School and Buffalo Grove High School are top rated schools in the state. Since 2013, Buffalo Grove has received a number of awards that recognize the community as a great place to |ive, vvork, and raise a fanni|y. These awards ino|ude: ^ The 46th Best Place to Live in the US by Money K4agazine, the only |||inoiy community recognized, ^ The 20th safest community in the United States and the 2nd safest in |||inoiy� . ^ The 7th most tanni|y'friend|y community in |||inoiy and-, , Best Chicago suburbs for young professionals. Buffalo Grove Economic Development Strategic Plan Page 39 Buff alo G rove will maintain and enhance services, amenities, resources and partnerships to foster a vibrant, livable, and desirable community in (NSHC). NSHC was formed in 2011 as part of an Maintain and enhance the Village's housing stock and intergovernmental agreement AG/A vvith the Village of market. Arlington Heights, Village of Mount Prospect, Village of Palatine. and City of Rolling Meadows. NSHC focuses The Village's residential areas are an important element to on housing issues on a yuhregiona| scale. In 2015, the community. They contribute to the Village's tax-base Buffalo Grove renewed its |GA agreement vvith the as well as its identity as a family-friendly community. The NSHC for five additional years. During thiy tinne period, fo||ovving action steps look to maintain and enhance the NSHC vvi|| ypeoia||y explore preserving and increasing Village's housing market yo it can thrive in the future. senior houying, address aging nnu|ti'fanni|y propertiey, encourage energy'effioienoy housing and retrofits, as well as expanding housing opportunities to address the A. Diversify housing stock. Although the Village's needs ofgrovving dennographioyeotory. housing stock is in great oondition, it is |innited in The Village should continue to parfioipate in NSHC to options and generally appeals to families. Conyequent|y, complement the Village's more local housing initiativey. the Village should look to diversify its housing stock Sub-regional coordination offers an economy of scale yo that it includes f|oorp|any, hedroonny, square advantage for program development and innp|ennentation footagey, denyitiey, annenitiey, and tenure that are as well ayoptinnizeyopportunitieyto leverage investment suitable for a vvider population. Thiy vvider population from public and private partners. includes nni||ennia|y, ennpty'neytery, and young families. Moving forward, the Village staff, Planning and Zoning Commission, and Village Board should examine residential development and redevelopment plans vvithin thiy housing framework. Such efforts can help address ypeoifio concerns such as the oby'houying spatial nniynnatoh and empty-nester migration outside of Buffalo Grove in pursuit ofdownsizing. B. Continue to participate with the Northwest Suburban Housing Collaborative. The Village of Buffalo Grove has been and continues to be a part of the Northwest Suburban Housing Collaborative Buffalo Grove Economic Development Strategic Plan Page 40 Improve accessibility to, fronn, and around the Village. Preserve and enrich other aspects of the Village's livability and quality oflife. Overall aooeyyihi|ity is oritioa| to Buffalo Grove's long-term viahi|ity. Currently, the Village is served by a strong system of In addition to housing and tuanyportafion. the Village's roads as well as tuanyit, pedeytriao, and bicycle infrastructure. |iwahi|ity and qua|ity of |ife is affected by various elements |nnproving the intra' and inter'oonneotivity of the Village's ino|uding, but not |innited to, market and demographic transportation system can help bolster economic development trendy, regional projects, local partneryhipy, parks and open opportunitieyfor Buffalo Grove. ypaoe, yohoo|y, and safety services. Understanding these elements and their relationships to the community can help position the Vi||age for economic yuytainahi|ity. A. Maintain and improve nnu|dnnoda| infrastructure. The Village should continue to focus on initiativey that support nnu|tinnoda| transportation. These types of efforts can A. Keep abreast of local and regional trends. help reduce autonnohi|e oongeytion, wear on roadvvayy. To help optimize the Village's role as a proactive and air pollution-, as well as increase the Village's active oonnnnunity. Village staff should monitor local and transportation options and vibrancy. The Village can regional trendy, proeoty, and programs. Such help maintain and improve nnu|tinnoda| infrastructure monitoring can help the Village gain a deeper by innp|ennenting the 2014 Buffalo Grove Bioyo|e P|an, understanding of key dynamics affecting the community. enhanoing way-finding yignage, as well as ensuring new Current trendy include the grovving nni||ennia| developments provide adequate pedeytrian, hioyo|e, and dennographio, aging-in-place initiativey, emergence of road connections to current networks. Focus should he ypeoia| uses in industrial diytrioty, and environmental placed on natural gathering centers such as the K4etra yuytainahi|ity. Village staff should explore these trendy stations and shopping centers. Thiy reoonnnnendation is as vve|| as other projects and programs vvith the closely a|igned vvith the "Enhance workforce aooeyyihi|ity" Planning and Zoning Commission and Village Board. action step under the "Economic Growth Recommendation Staff should also provide appropriate reoonnnnendationy. 3: Broaden and enrich the labor pool for local businesses." B. Maintain partnerships and services. Buffalo B. Participate in regional transportation projects. Grove should maintain its partnerships vvith the Regional transportation projects in and around Buffalo Channher, Buffalo Grove Park Uytriot. neighboring Grove affect the Village's direction and potential for oonnnnunitiey, school diytrioty. Lake and Cook Counties, growth. Consequently, the Village should continue to regional agenoiey, foundationy, and non-profits. parfioipate in regional projects such as the Lake-Cook These partnerships help maximize opportunities for Road expansion, Route 53/120 project, and Buffalo Grove collaboration and in turn, cost effioienoiey. At the same Road extension. Such parfioipation can ensure that the tinne. the Village should maintain its high level of yaƒety. Village's ideay and concerns are being represented in key hui|ding enforoennent, and other government services for deoiyiony regarding such regional projects. residents and businesses. Buffalo Grove Economic Development Strategic Plan Page 41 •k 4 xaA yr r .L�Yx'� a ' rla t ea age F ��°�� The Implementation Matrix iy intended to initiate and complete the key reoonnnnendationy and actions in the Economic Development Strategic Plan. The following table provides a quick reference summary of the many po|ioy and program reoonnnnendationy for Village ytsff, elected offioia|y, and stakeholders. Each year. Village staff vvi|| develop a more ypeoifio work plan to identify vvhioh reoonnnnendationy and action steps vvi|| be undertaken for the upcoming year. Thiy work plan shall be developed in oonunotion vvith theVi||age'y annual budgeting prooeyy, vvhioh eytah|iyhey Vi||age'vvide goals for the upcoming calendar year. The Village Board vvi|| have the ultimate authority on the Plan's innp|ennentation� however, the Planning and Zoning Commission (PZC) should be the main body to oversee the Plan's innp|ennentation actions. As the PZC explores many ofthe eoononnio, nnarket, p|anning, and development iyyuey, trendy, and regulations relevant to the P|an, thiy body iyvve||'yuitedtoguide such steps. Buffalo Grove Economic Development Strategic Plan Page 43 ... Buffalo Grove will maintain, strengthen, and grow its businesses and employment, and continue to be a key employment center Tor the region. ............... ............................. .... .................................................................................... ................................................................. ................................................................................................. ........................ M.MXM �W : :.............................................. .0, tn 416 :.5- e 0.fivil:�I A., e - ....................... ::D. ...... ................................ . . U A.................................................................. Red...M......................F::: h`ate ............... ...... ........ ...... .......................................................................................................................................... ........................................................................................................................................................................................................................................................................................................................................ A.Develop regularly scheduled roundtable Host economic development roundtable discussions and invite businesses, property owners,real estate brokers,and discussions. the Chamber. B.N etwork with businesses at Chamber Continue to be an active member with the Chamber.Attend monthly luncheons,board meetings,and the annual events. Business Connection Summit. 1.Improve communications C.Create a business e-newsletter. Develop a periodic e-newsletter to all businesses in the Village.The e-newsletter can provide frequent updates of the and relations various programs,projects,and plans occurring in the Village. with current and potential D.Schedule on'-site visits at businesses Cc nd u ct business v isits to further understand thei r operations an d needs.Develop and implement a c c,m m erci al businesses, and brokerages. brokerage"road show"to help advertise business and development opportunities in the Village as well as its owners,and the proactive approach towards economic development. development community. E. Enhance Village's Website. Look to modernize and enhance the economic development-related webpages on the municipal website.The following key information should be included;community demographics,economic profile,vacant spaces, (economic development-related pages) development and redevelopment opportunities,and entitlement process. F.Continue to work on the branding and Continue to work on the reb ran d i n g effort and then develop a marketing plan. marketing campaign. A. Improve administrative forms and Enhance applications as well as license and tenant and use forms. Develop a process-flow handout for businesses. processes. B. Recognize businesses that are new, Enhance co m m u n icati on s through the resident newsletter and pro posed business e-n ewsl etter to better prom ote expanding,or are making a notable new,expanding,and notable Buffalo G rove businesses. contribution to the community. 2.Enhance support to local businesses. C. Provide a welcoming package and Create a welcoming package,which could include a welcome letter,list of available resources,and schedule of key schedule a meet and greet for new dates for business licenses,permits,and other administrative information. businesses Develop a comprehensive list of business resources offered by Illinois Department of Commerce and Economic D. Connect businesses with information Opportunity(DCEO),Lake County Partners,Lake County Workforce,Cook County Bureau of Economic Development, and resources to meet their needs. B-Impact Assessments,SCORE,and the Chamber. A.Facilitate partnerships between the The Village can help facilitate partnerships between the Lake County Workforce,College of Lake County,Lake County workforce development providers and Partners,Cook County Bureau of Economic Development,and local businesses. local businesses 3. Broaden and enrich the labor B.Work with local businesses (particularly pool for local manufacturing businesses)and high The Village can work with the local high schools and manufacturers to coordinate tours of advanced manufacturing businesses. schools to foster awareness of advanced facilities.These businesses can also present to high school classes and be integrated during career-day festivities, manufacturing career opportunities. I IC. Enhance workforce accessibility The Village should work with businesses and transportation partners to optimize the awareness of various I transportation options,which could include the trains, buses,cars and vans(solo and pooling), bicycles,and on foot. Buffalo Grove Economic Development Strategic Plan Page 44 Buffalo Grove will sustain and ow its economic base with new, redeveloped improved, and maintained commercial development that is functional, appealing, and contributes to the Village's competitive position. ............................... C Q I ................................................................................................................... ................................. ................................................ ........................................................... �J eco,m m en -ym�A T fiew................ an-NNI =ate.........:.................................. ........................... ..........................................................................HMA Pm ................................................. ......... ... ... ......................................................... ............. ..............................................................................................................................................I..,..,..,..,..,..,..,..,..,..,..,..,..,..,..I.......................................................................................................................................................................................................................................................................................................... ............... A. Update the Comprehensive Plan. Update the Comprehensive Plan before 2020. B,Develop a vision for su bareas and Create a defined vision for each of the commercial corridors and station areas.Such discussions should also consider creating a central business evaluate which,if any,subarea should beco m e a central business district. Areas of immediate fo c us should include 1.Create a vision district. the Lake-Cook Mixed-Use Corridor and Prairie View Metra Station Area. for community. Evaluate opportunities to continue to annex properties where appropriate.Specific focus should be paid to C.Evaluate opportunities to expand Milwaukee Mixed-Use Corridor and Prairie View Metra Station Area.The study's findings of the impacts,along with municipal boundaries. the Village's vision for areas,and property owners'interest in annexation,would all factor into annexation phasing and implementation. A.Consider developing a Unified Explore creating a unified development ordinance(UDO),which combines various sets of development regulations Development Ordinance. into a consolidated document.This type of organization enhances clarity,consistency,and coordination of the regulations. 2.Update the B.Update Zoning Code to reflect visions. Update the structure and content of the Zoning Code so that it aligns with objectives set forth in the Comprehensive Buffalo Grove Plan and future subarea plans. Municipal Code. C.Revise the Sign Code. Modernize and streamline the Sign Code. D. Modernize other sections of the code Update the Development Ordinance and Floodplain Regulations to align with Lake County and Cook County's as needed. Ordinance.Adopt a more recent International Building Code(IBC). Utilize data sources such as Co-Star along with information from brokers and property owners to create and maintain A.C reate and update an inventory of a commercial properties inventory.The inventory should be established within a database as well as displayed commercial properties. visually on a map. 3. Facilitate B.Continue to refine Buffalo Grove's Continue to explore opportunities to simplify,clarify,and streamline the Village's entitlement process by updating, commercial planning,development,and permit organizing,coordinating,and enhancing materials for developers.These materials include applications,workflow development and processes. diagrams,Planning and Zoning Commission timelines,Village Code,zoning maps,and land use maps. redevelopment opportunities. C.Continue to offer site-specific economic development incentives,while Explore opportunities to offer site-specific and multi-site districts.All economic incentives should lead to robust exploring opportunities to offer economic economic benefits.These benefits may include but are not limited to:strengthening theVillage's tax base,creating development incentives for multi-site jobs and stimulating new development. districts. A. Promote energy efficiency programs. Continue and enhance relationship with utility providers and energy efficient partners and connect them with 4. Encourage property owners and businesses. environmentally sustainable retrofits and B.Establish sustainable standards. Lead discussions with the Planning and Zoning Commission,the Board of Trustees,and the public that explore development. creating voluntary or incentive-based programs to achieve green buildings,and energy efficiency. Buffalo Grove Economic Development Strategic Plan Page 45 .......... Buffalo Grove will maintain and enhance services, amenities, resources, and partnerships so to foster a vibrant, livable, and desirable community in which to live, work, and play. .................. ........................................... . ............ .............. *. . ............................................. fi ate s............................ ................ cqr.ymendatid :�:�JA 16 �.:S....................... �Q ......................................................................... . .......... p.FF2.............................................................. ....................... .... .................................. ............................. ...... A.Diversify housing stock. Examine opportunities to create a more diverse housing stock that caters to millennials,empty-nesters,and young 1. Maintain and families. enhancethe Village's housing B.Continue to participate with in Continue working with the NSHC and explore preserving and increasing age-targeted housing,addressing aging stock and market. the Northwest Suburban Housing multi-family prope rti es,encouraging energy-efficiency housing and retrofits,as well as building housing to address Collaborative, the needs of growing demographic sectors. A.Maintain and enhance multimodal Continue to focus on initiatives that support multimodal transportation such as implementing the 2014 Buffalo Grove 2.Improve infrastructure. Bicycle Plan,enhancing way-finding signage,and ensuring new developments provide adequate pedestrian,bicycle, accessibility to, and road connections to current networks. from,and around the Village. B. Participate in regional transportation Continue to participate in regional projects such as the Lake-Cook Road expansion,Weiland Road project Route projects. 531120 project,and Buffalo Grove expansion. 3.Preserve and A.Keep abreast of local and regional Monitor local and regional trends,projects,and programs.Provide appropriate recommendations. enrich other trends. aspects of the Maintain partnerships with the Chamber,Park District,neighboring communities,school districts, Lake and Cook Village's livability B Maintain partnerships and services. Counties,regional agencies,think thanks,and non-for-profits. Maintain high level of safety and governmental and quality of life. services. Buffalo Grove Economic Development Strategic Plan Page 46 Buffalo Grove Economic Development Strategic Plan This page intentionally left blank. Page 47 •a WIN- Corrid0! - ,'s', Northern Industnal/Of Mrlwsek.e All - -..., �❑atx�wiE .e .. I 1 y� 4 Vill e w • w of B what s Econ4 'con0mlc develop Deye�4 evelopme opment is three key pl t �hd busines t aYers. sE q,�iq'ng pr a Willing � 1<�rtd/f Pro OW �e acl ItY cI ner �, or nd iS cur 1s �n + DroAE�rt,to a�via 9 to se1n tly SeII Viol" b bly, business, t No.,- . Us,�_ . ...... The Economic Development Strategic Plan builds off of the relevant goals and recommendations from related Village, county, Village of Buffalo Grove and regional plans. A summary of each plan and its relationship Strategic Plan 2013-2018......... ...to the Buffalo Grove Economic Development Strategic Plan is featured below. In 2012, the Village of Buffalo Grove developed the Strategic Plan 2013-2018 to guide Village operations and services around the five strategic priorities, one of which is economic development. The Economic Development Strategic Plan establishes a framework to address the economic development objectives of the Strategic Plan, which include, but are not limited to: leveraging resources to meet community objectives, creating an inviting environment for u—n-+z,zo+z businesses through targeted community and market methods, managing opportunities in the commercial corridors, and retaining and expanding businesses. COMPREHENSIVE PLAN UPDATE 2009 VILLAGE OF BUFFALO GROVE,IL Adopted in 2009, the Village of Buffalo Grove Comprehensive Plan provides an overall vision for the community with supporting goals and action steps. Part of the vision states that the Village W11 continue to strive to be a community that "fosters continued economic development with proactive programs encouraging IPM and supporting businesses." Goals in the Comprehensive Plan that support this vision include: encouraging reinvestment in radj established commercial properties, strengthening and diversifying the Village's economic base, continuing to participate in regional by"`""2009 � aPwoKa ey omma��•"o.zoov-+s •S• I programs that encourage a positive and healthy business climate, ,rpr and striving for an economic development foundation that yields a vibrant and sustainable economy. a�ppn Buffalo Grove Economic Development Strategic Plan Page 49 O IE4 th |n2007.VUageof Buffalo Grove Transit Staton Area Study was developed,vvhioh focuses on the areas surrounding the Buffalo Grove and Puairie Mew K4etuaStafiony. Fo||ovvingtranyit-oriented Villagepf Buffalo Grifte. :-I development guide|iney.the plan recommends nnixed'uye. oonnnneroia|.and reyidentia| developments and pedestrian paths that are centered around the train ytationy.The plan was produced hyCanniroy. Ltd.and funded in part through a grant from the Regional Tuanyportafion Authority and the U.S. Department of Tuanyportafion.Although the plan was never offioia||yadopted, it has been used ayageneua| guidefortheytafionareas. Lake County Partners (LCP) is the leading non-profit economic development oorporsfion for Lake County and led the COMPREHENSIVE ECONOMIC development of the Lake County Comprehensive Economic DEVELOPMENT STRATEGY Development Strategy /Lake County CEDsJ in 2012. The Lake County CEDy analyzes Lake County dennoguaphio, real eytate, and induytry data and out|iney innp|ennentafion and operafiona| goa|y for Lake County Partners. These goals ino|ude: retainingand attracting prinnary ohyto Lake County-, diveryifvingthe County's tax baye� enhanoing workforce development and training; yupporfing improvements to infraytruotureoonneotivity; and providing greater support and resources for entrepreneurs. The plan also provides guiding prinoip|ey for LCP as well as an action p|an, vvhioh is organized under the three topic areas of job oresfion, marketing and outreach,and organizsfion and 000rdinsfion. Buffalo Grove Economic Development Strategic Plan Page 50 In 2015, Cook County adopted Planning for Progress, a plan that coo unites the federally mandated Consolidated Plan (Con Plan) OGG and the Comprehensive Economic Development Strategy (CEDS) into one integrated vision. The plan adopts relevant economic growth policies from previous efforts and focuses on goals related to infrastructure and public facilities, business and workforce development, housing development and services, non-housing services, and planning and administration. Specific recommendations include increasing the transparency, efficiency, collaboration, and capacity for county and suburban governments', enhancing support for manufacturing clusters; and improving the physical infrastructure to better link residents with jobs. The Northwest Suburban Housing Collaborative (Collaborative) was formed via intergovernmental agreement in 2011 amongst Buffalo Grove,Arlington Heights, Buffalo Grove, Mount Prospect, Palatine,and Rolling Meadows. In 2013 the Collaborative worked with the Metropolitan Mayors Caucus(MIMIC), Chicago Metropolitan Agency for Planning (CMAP),and the Metropolitan Planning Council (MPC)to develop the Homes for a Changing Region report in 2013. The report includes a subregional housing ' analysis, review of recent policies, housing market projections,and recommendations for future actions.The report recommended thatthe Collaborative communities should diversifytheir housing 7 stock to meet projected housing demands. Buffalo Grove Economic Development Strategic Plan Page 51 CMAP Chicago K4etnopo|itan Agency for Planning (CK4AP) is the offioia| regional planning orgaoiza1ion for northeastern |Uinoiy. GO TO . In 2010. CK4AP developed GOTO 2040. nnetropo|itan Chicago's first comprehensive regional plan in more than 100 years. The plan eytab|iyhey coordinated strategies to help the region's 284 oonnnnunitiey address tuanyportafion, houying, economic deve|opnnent, environmental, and other qua|iy+of'|ife issues. Speoifio topics discussed in GOTO 2040 that relate to the Buffalo Grove Economic Development Strategic Plan ino|ude: improving eduosfion and workforce deve|opnnent, yupporfing economic innovation, achieving greater |iwabi|ity through land use and houying, pursuing coordinated investments vvith other oonnnnunitiey, and increasing the commitment to enhance passenger and freightnnobi|ity. Buffalo Grove Economic Development Strategic Plan Page 52 Buffalo Grove Economic Development Strategic Plan This page intentionally left blank. Page 53 �~� Community engagement is a oritioa| part of the Economic Business Survey Development Strategic Plan process. The fo||ovving is an out|ine In Apri| 2015. the Village conducted an on|ine survey for all of outreach aotivitiey that were conducted to reach businesses, businesses in Buffalo Grove. To adverfiyethe yun/ey. Vi||age Staff property ovvnery, deve|opery, and other stakeholders and hear nnai|ed postcards to all 800 businesses and the Chamber Staff theirperypeotiveyon economic development in Buffalo Grove. sent an eh|autto their nnennhery. The survey's questions asked about the Vi||age'y strengths and weaknesses ay well ay the vision for the future of the Village. Other questions regarding workforce oonnnnuting patterns and workforce development programs were Board ofTrustees also posed. Village staff led five Economic Development Strategic Plan Forty-one businesses completed the survey. Of these parfioipanty, preyenta1iony and discussions vvith the Village Board over approximately 46% were retai| or service businesses, 32% the course of the project's development. These preyenta1iony, were office businesses and the final 22% were |ight industrial vvhioh occurred at Board Meetings and Connnntee of the Whole (warehousing or manufacturing) businesses. meetings throughout 2015, enabled the Village Board to he oontinua||yengaged in the plan as it progressed. K4oreover, these discussions helped to mold the main themes and direction of the Key Person Interviews plan. Vi||age Staff conducted 17 key person interviews between January and June of2015. These key persons included business owners, Economic Development Strategic Plan Steering Committee developers, brokers, and local business leaders in the oonnnnunity. The interview format allowed staff to conduct a more in-depth On May 18. 2015. the Village Board appointed an Economic discussion vvith interviewees on topics surrounding oonnnnunity Development Strategic Plan Steering Connnntee to guide the issues and opportunitiey for the future. plan. Theoonnnntee included businesses, developers, elected/ appointed offioia|y, as well as other appropriate oonnnnunity groups and stakeholders to represent the varied business and Buffalo Grove-Lincolnshire Chamber ofCommerce development interests in Buffalo Grove. The Steering Connnntee Vi||age staff presented tothe Buffalo Grove Linoo|nyhireChannher met five tinney between May and December of 2015. During each of Commerce a1theirmonthly luncheon on March 3, 2015. During nneeting, the oonnnntee would receive overview of the plan's that preyenta1ion, staff out|ined the plan's oheotive and process progreyyto'dste and then provide feedback for staff to incorporate and explained pre|inninary market findings. ^Chamber nnennhery into the Plan. also provided input on the plan's scope and topics to he further explored. Fo||ovving up from the March 3rd preyentsfion. the Village parti6pa1ed in the Business Summit on October 29, 2015. During thiy event, staff had an Economic Development Strategic Plan booth,vvhiohdiyp|ayeda general overview of the plan's goals, Buffalo Grove Economic Development Strategic Plan Page 54 recommendation and action steps. The forum provided an ideal format for staff to educate event attendees about the plan and gain feedback on its main concepts. Buffalo Grove Rotary Village staff was the guest presenter at the Buffalo Grove Rotary Meeting on April 16, 2015. During the meeting, staff discussed the plan's general framework and outreach efforts. Rotary participants asked questions regarding the plan's phases and discussed strengths and weaknesses of the Village. r~� Buffalo Grove Environmental Action Team Buffalo Grove Environmental Action Team (BG EAT) is � � managed by the Buffalo Grove Park District and strives to raise awareness and encourage sustainability practices. Village staff was invited to discuss the Economic Development Strategics Plan to the BG EAT at their meeting on October 28, 2015. During ' the meeting, staff presented key themes from the plan and specifically reviewed concepts from the plan of interest to the EAT such as green building and energy efficiency. Public Open House The Village hosted an Open House for the public to view and provide feedback on the Economic Development Strategic Plan as it was nearing its final stages of completion. The Open House was held at Village Hall on December 2, 2015. To advertise the plan, the Open House was advertised on the Village's website and via social media. The Village also sent postcards announcing this event to businesses in Buffalo Grove and worked with the Chamber to reach out to their members. The open house which included a plan overview and a question and answer period, provided a platform for residents and businesses to better understand the plan's objectives, goals and recommendations. Approximately 30 people attended the Open House event. Buffalo Grove Economic Development Strategic Plan Page 55 The Buffalo Grove Economic Development Strategic Plan Market Assessment (Market Assessment) was developed in the early phases of the Buffalo Grove Economic Development Strategic Plan process. It addresses the queytion� "Where are demographics [*-Cook Corridor trends vvenovv?'' hyexp|oring the exiytingoonditionyoftheoonnnnunity. The Market Assessment draws upon data and information from dennographio, real eyta1e, ennp|oynnent, and market 7L. �9 absorption sources along with interviews and surveys with stakeholders. It gpow1h _2 retail --schools Buf f alo Gr VP postwil 0 covers the fo||ovving keytopioy� oonnnnunitydennographioy and annenitiey, community outreaoh, employment and huyineyyey, household _Iconom�ic Development Strategic Plan and oonnnneroia| development. The findings from the Market workers MllwakwCul Assessment set the framework for the goals, reoonnnnenda1iony. Market Assessment and action steps featured in the Economic Development Strategic Plan. For fu|| text ofthe Market Assessment, please fo|low the |in< below. http�//vvvvvv.vhg.org/8Q8/Eoononnio'Deve|opnnent'Strstegio'P|an Village of Buffalo Grove Community Development Department July 16,2015 Buffalo Grove Economic Development Strategic Plan Page 56 ............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ 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