McKinley Park Neighborhood Plan

In the 21st-century economy, local small businesses of all kinds face challenges, especially competition from national chains and online retailers. Support and guidance from trusted allies, such as MPDC and local government offices, could help small business owners navigate many common difficulties. 36Squared Incubator, and local elected officials’ offices already provide a variety of assistance programs and resources to local businesses to help them address many of the common challenges that they face, such as the need for façade and awning improvements, guidance on signage, and city permitting.

Beyond the common challenges facing small businesses, there are particular elements of McKinley Park’s business environment that present unique hurdles for economic development in the community. Some business owners, for example, are not familiar with city programs or other business assistance models. Community engagement efforts revealed that despite available programs business owners are often are not aware of such resources and many struggle going through the city permitting process. Business owners and advocates alike expressed a desire to increase connections between businesses and existing business assistance programs.

Building entrepreneurial and management capacity for existing businesses is critical to maintaining a thriving local economy in McKinley Park. Feedback from the community identified a strong need for more resources to help business owners understand regulations, address common challenges and questions, and provide translation for business resources.

Establish specialized efforts for growing small businesses

From "Grant Offers a Grand to Disabled Entrepreneurs," published March 18, 2019, in the McKinley Park News.Small businesses add to the resilience of any community. International Economic Development Council (IEDC) research suggests that smaller and more agile businesses can better respond to shocks such as changing consumer preferences and economic downturns. The study also suggests that entrepreneurs can enter niche markets much faster than large firms can. In order to activate underutilized space and grow small and niche businesses, more tools should be developed to empower entrepreneurs and existing businesses. Identifying and addressing gaps in service, as well as coordination of physical and programmatic resources, is needed. MPDC could play a role in facilitating the coordination of physical and programmatic resources for local businesses and entrepreneurs. One idea is creating a one-stop shop on MPDC’s website for small businesses looking for support programs. MPDC should work with state, city, and local organizations like the Illinois Hispanic Chamber of Commerce (IHCC) and Somercor to identify and align resources applicable to the needs of McKinley Park entrepreneurs through the MPDC website, informational forums, trainings, and one-on-one consultations in the community.

Conduct cross-cultural outreach in collaboration with trusted partners

MPDC needs to successfully engage and build support for small and minority-owned businesses. To offer the right assistance, it will be essential to gain a thorough understanding of the practical needs of business owners, commercial property owners, and aspiring entrepreneurs — as well as the resources they currently rely on. A first step would be to focus on increasing communication: surveying business owners on needs and providing information on available business assistance resources in some of the community’s most commonly spoken languages other than English, such as Mandarin and Spanish. Translated materials can promote existing programs and services to help with common needs such as façade improvement, business attraction, district marketing, start-ups, expansion, referrals, and loan assistance.

From "Custom Fabrication Drives Explosive Growth at Bridgewater Studio," published October 11, 2019, in the McKinley Park News.This effort should also seek the wisdom, guidance, and assistance of knowledgeable community partners. MPDC should consult community partners and local financial institutions to gain knowledge of existing initiatives and programs aimed at serving the needs of small and minority-owned businesses in the neighborhood. Even if they do not work specifically in the study area, trusted institutions with strong connections to economic development groups and familiarity with city programs can help establish contact and communication.

The Economic Strategies Development Corporation (ESDC) stands out as a strong partner for helping MPDC implement this strategy. ESDC has served the Pilsen community for over 43 years, providing technical and financial assistance to over 1,000 businesses and entrepreneurs, and helping to retain and create new jobs. They have a history of strong relationships with the businesses that populate a vibrant and diverse neighborhood and could help bridge cultural gaps between other business advocacy groups and business owners.

Expand technical assistance for local business development, including incubator resources for startups and accelerators for growing businesses

From "U.S. House Candidate Marie Newman Visits 36Squared Business Incubator," published November 2, 2020, in the McKinley Park News.The 36Squared Incubator is a nonprofit 501(c)(3) corporation in McKinley Park offering onsite training, classes, and one-on-one counseling to help local entrepreneurs grow their businesses. Incubators and accelerators support first-time entrepreneurs, emerging technologies, and untested business models. The services that incubators and accelerators provide vary by community. Accelerators are typically started by investors and often focus on providing technology oriented startups with mentoring and seed funding. Incubators, according to the National Business Incubator Association, primarily focus on creating community jobs, improving the entrepreneurial and business climate, retaining businesses, building or accelerating growth in local industry clusters, and supporting economic diversity in local economies.

Affordable space is often a challenge for businesses, so some communities operate “incubators with walls.” The “incubator with walls” approach could be helpful for small businesses and entrepreneurs who are currently operating home-based businesses. Most often, incubators provide services such as networking opportunities, marketing assistance, accounting or financial management assistance, and access to resources.

Attract and support businesses that will increase the diversity of McKinley Park’s retail to meet residents’ needs

From "One City Tap Stands Alone as McKinley Park's Sole Tavern," published May 3, 2018, in the McKinley Park News.Community engagement efforts revealed a strong demand for increasing the diversity of McKinley Park’s retail to include stores catering to daily needs. Because the majority of McKinley Park’s economy is dependent upon local businesses, the community should focus on strategies that provide greater support for new and potential entrepreneurs in the long run. Expanding bilingual services and encouraging immigrant entrepreneurship is a major cornerstone of the Chicago New Americans Plan. Working with the Office of New Americans and the Department of Business Affairs and Consumer Protection, the community should look into opportunities to educate more people about opening and operating small businesses through current and new workforce development and job training programs. As many planning programs to support immigrant entrepreneurship through the Chicago New Americans Plan are still in nascent stages, the community should also make sure to stay informed about new pilot projects or training initiatives that arise so that they can connect more people, particularly new immigrants, to ongoing city efforts in local economic development.