LETTER FROM THE EXECUTIVE DIRECTOR

As the Executive Director of the Berwyn Development Corporation (BDC), I would like to welcome you to our 1st Quarter Report for 2023. Within this report you will find valuable information on how the BDC has contributed to economic development in the City of Berwyn.

2023 started off strong with the business community witnessing an incredible expansion of advising opportunities, networking events, and educational programming. Specifically, the BDC conducted over 415 one-on-one business advising calls, hosted more than 12 events, and facilitated 4 educational sessions. These sessions were tailored to Berwyn, covering topics such as business insurance, capital investment and expansion, financial management, and food safety certification.

Beyond advising, the BDC continued to connect business owners to much-needed financial resources. We did this via e-blasts, social media posts, corridor walks, and frequent updates to our website in both Spanish and English. Collectively, we provided information more than 2,100 times to existing Berwyn businesses and reached more than 21,958 people across all platforms. Some businesses were contacted multiple times, hence the large amount of retention information shared during Q1.

Thankfully, our efforts paid off. The BDC committed over $118,980 in Finish Line Grants to 12 renovation projects located in our 3 TIF districts – Roosevelt, Harlem/Cermak, and Depot District. We also helped more than 280 Berwyn businesses apply for state funding, receiving a Certificate of Appreciation from the Cook County Small Business Source for our application assistance. Finally, we responded to more than 35 inquiries about land, buildings, and zoning from prospective businesses. Together, the renovation projects and property inquiries demonstrate the community’s resiliency and continued trajectory for growth.

Despite this positive outlook, the BDC recognizes the business community’s ongoing need for financial support and tailored advising in 2023. As such, we will be launching two new homegrown projects designed to support local entrepreneurs and start-ups. We will also be conducting pulse check surveys with our commercial corridors, as well as collaborating with consultants to create a new economic development plan for the City of Berwyn. Our goal is to better understand the current strengths and opportunities of the community, especially considering the recent job market challenges.

Overall, we are proud of the Berwyn community and excited for what is to come. We look forward to expanding our programs, promoting all available resources, and getting to know the Berwyn community even more in 2023.

Sincerely,

David Hulseberg