Economic Development
The Department of Planning and Development's economic development initiatives include a wide spectrum of financial assistance programs, business development efforts, and related quality-of-life endeavors for local neighborhoods.
DPD also provides funding to delegate agencies whose objectives include small business development, site development or area-wide marketing, maintenance and management within a specified commercial business district.
Funding Opportunities
Small Business Improvement Fund (SBIF)
The Small Business Improvement Fund (SBIF) provides grant funding for permanent building improvements and repairs across the city.
Chicago Recovery Grant Application for Community Development
DPD is now accepting applications for grant funding to support local commercial, mixed-use, and light manufacturing development. All are welcome to apply. City staff will prioritize projects in areas of Chicago where there is a history of disinvestment or limited private investment.
Special Service Area (SSA) Program
Special Service Areas, known as Business Improvement Districts or BIDs in other cities, are local tax districts that fund expanded services and programs through a localized property tax levy within contiguous areas.
Tax Increment Financing (TIF) is a special funding tool used by the City of Chicago to promote public and private investment across the city.
Chicago PACE makes it possible for owners and developers of commercial properties to obtain low-cost, long-term financing for energy efficiency, sustainability and renewable energy infrastructure deployed in new or existing buildings.
Other Resources for Business Owners
Local Industrial Retention Initiative (LIRI)
DPD funds several not-for-profit organizations as delegate agency partners for the Local Industrial Retention Initiative (LIRI) program.
Neighborhood Business Development Centers (NBDC)
The City of Chicago provides hyper-local support to business owners and start-up entrepreneurs through the Neighborhood Business Development Centers (NBDC) grant program, which funds Chicago-based nonprofit business service organizations, located throughout the City, to provide FREE BUSINESS DEVELOPMENT ASSISTANCE.
Property tax incentive programs encourage private business investment, employment, the revitalization of communities suffering economic stagnation and the preservation and rehabilitation of landmark buildings.