Englewood hopes tax incentives attract jobs, businesses

With more than its fair share of urban decay and high levels of crime and unemployment, Englewood is looking forward to an upcoming tax incentive that could boost its local economy.

The Chicago neighborhood of 40,000 is one of many areas that would benefit from tax increment financing (TIF), a tool for enhancing local economies expected to be approved next month.

Asiaha Butler, a young professional and a member of the Resident Association of Greater Englewood, often walks around the neighborhood, taking pictures of the rundown areas. She says she has seen Englewood improve.

“I remember Wicker Park being a place where most people were scared to walk down the street,” she said. “It has totally turned itself around.”

And with that improvement comes opportunity. Butler has a long wish list of businesses that she would like to see in her neighborhood, including an art gallery, grocery store, and leasable retail and office space.

“Anything that would draw businesses in and anything that will keep people here,” she added.

Departing Alderman Freddrenna Lyle says that building the decaying areas back up is going to be challenging because “business people are very conservative, they don’t take risks.” Lyle knows that the community will have to put its best foot forward if they want to see change.

“So now that we are here with a blank slate … we’re going to have community meetings again,” Lyle said.

At the University of Illinois-Chicago, urban planner and policy professor Rachel Weber cautions envisioning a TIF as a straightforward solution for the community.

“You really need to have independent market interest in an area,” she said. “TIF alone is not going transform a neighborhood that has no retail activity to a thriving commercial district.” Weber further adds that many types of businesses aren’t interested in moving beyond retail strips in the suburbs.

Still, with its dense population, efficient public transportation system, and nearby thruway, Weber is confident that Englewood has many advantages that would draw in businesses.