Thursday, November 9, 2023 | View in browser
October, 2023
The Economic Development Division compiles a Monthly Progress Report to deliver timely Evanston area business news and initiatives, economic indicators, and relevant resources.
Top Stories
International Downtown Association tours Evanston!
This year, the International Downtown Association (IDA) held its annual conference in Chicago, giving Evanston a perfect opportunity to host a pre-conference tour for attendees from across the U.S. and Canada. Attendees learned about Evanston and how the City has worked for the past year on a plan to unify its eight business districts.
Through visits to each district, and a lunchtime presentation at Double Clutch Brewing, they were able to see first hand how each commercial corridor has its own story, vibe and challenges. The Evanston Thrives Retail Action Plan is designed to help these eight commercial districts reinvent themselves with a unified strategy to address changing retail trends and post-pandemic recovery.
Key Data
Comparison of Unemployment Rates for the Last Three Months
 Unemployment rate (September): 4.3 percent
New businesses openings (October): Seven in 2023 compared to five in 2022
Downtown Vacancy rates: Office,11.5 percent. Retail,12.2 percent
Sales Tax collected (September): $1,955,413.51
Recent commercial property transactions: Two commercial sales in September totaling $7,040,000 and generating $59,360 in Real Estate Transfer Tax.
Putting the Numbers into Context
Evanston's vacancy rates continued to decrease to pre pandemic levels. Economic Development staff continue to monitor office vacancies as the return to is occuring at a slow pace, and its impact on upcoming lease renewals is potentially concerning. Though Evanston’s unemployment rate has slightly increased, it continues to trend better than Chicago, state, and national rates.
Welcome, New Businesses!
The Fat Shallot opens on Central Street!
So excited to have The Fat Shallot now open at 2902 Central Street! This husband-and-wife duo are bringing delicious, made-to-order sandwiches, salads, and more to Evanston. Let Sam and Sarah serve you one of their favorites and we guarantee The Fat Shallot will have you coming back for more!
Evanston Corner Bistro now open Downtown!
Opened October 13 at 703 Church Street, Evanston Corner Bistro is an American bistro focusing on approachable contemporary dishes that highlight fresh, local, and seasonal ingredients. They are open for breakfast, lunch and dinner, so you can stop by anytime to check them out. And don’t forget happy hour– they also boast an impressive beverage menu with local craft beers, an extensive wine list, and great cocktails!
New businesses opened in October, 2023
Get to Know....
The Main-Dempster Mile!
One of Evanston’s eight business districts, the Main-Dempster Mile is filled with unique shops and truly has something for everyone! Stop by one of their upcoming holiday events or just to browse the many eclectic retail shops, galleries and studios that line both Main and Dempster Streets.
City Initiatives
Legacy Business Program
The City of Evanston’s new Legacy Business Alliance program is designed to celebrate, advocate for, and retain Evanston’s living heritage as embodied through the legendary businesses which contribute significantly to the City’s historic, cultural, economic, or social identity.
Next steps? The Legacy Business Working Group is working with Evanston-based brand studio, Glantz, to help develop a unique, customized logo and website for the program. Evanston has hundreds of legacy businesses. The working group has selected 32 to pilot this important new program. The pilot list is available on the Legacy Business Program website. Watch for profiles and video interviews featured on the new website and in our newsletters. Stay tuned!
 Guitar Works - One of Evanston’s Legacy Businesses
Legacy Business Alliance - Guitar Works!
Get to know: Guitar Works! Opened in 1979 and located at 709 Main Street, they are a family-owned, independent retail guitar store that also offers lessons and rentals.
What is your business known for? Retail selection of new & used guitars, basses, amplifiers, mandolins, ukuleles and other folk instruments; rentals of instruments, amplifiers and PA equipment; and private music lessons.
Business History: Since 1979, Guitar Works, Ltd. has been helping musicians of all skill levels. Our friendly and knowledgeable staff is here to give you honest help in a pressure-free environment, whether you need to find the perfect guitar, learn to play it, get it expertly repaired, or rent a sound system to put on a concert.
Economic Development Committee
In case you missed it, here’s what happened at the October 25, 2023, Economic Development Committee:
Items Considered:
- The Committee approved changing its November 29, 2023, meeting to December 6, 2023.
- The Committee discussed and approved a request to allocate $250,000 out of the $3 million in ARPA funds that is dedicated to Evanston Thrive implementation to the proposed Evanston Small Business Recovery and Growth Fund, a new Economic Development grant, to directly support small businesses. Staff will return with recommended guidelines and approval process. Next steps? This item will go to the City Council for approval on November 27, 2023.
- Lea Pinsky, the Executive Director of Art Encounter, presented an overview of her proposal and request for funding for three mural opportunities aligning with Evanston Thrives recommendations. Art Encounter has worked with partners who have identified sites and obtained partial funding.
This request was approved by the Committee based on the alignment with Evanston Thrives priorities and the presence of matching funding. This item will go to the City Council for approval on November 27, 2023.
The three mural project locations are:
- 824 Noyes Street (1st Ward)
- 909 Davis Street (4th Ward)
- 1723 Simpson Street (5th Ward)
- The Committee approved a request for a sole-source contract with All Together Studio to complete and help implement a digital marketing and public realm marketing plan. All Together was instrumental in the design and branding of the umbrella brand “Enjoy Evanston,” as well as each of the individual districts. This item will go to the City Council for approval on November 27, 2023.
- All Together Studio also submitted a proposal to coordinate the logistics and management of the Evanston Thrives Placemaking Kits, including business district and staff engagement, totaling $41,280. Placemaking infrastructure was ranked as the number one priority in the Evanston Thrives plan. The Economic Development Committee approved the request, and this item will go to the City Council for approval on November 27, 2023.
Items Discussed:
Economic Development Staff facilitated a discussion with the committee members regarding the metrics they would like to see to support the Council’s Economic Development goals.
Economic Development staff has provided traditional economic indicators compared over time, including:
- Unemployment Rate
- Retail Vacancy Rate
- Office Vacancy Rate
- Sales Tax
- Liquor Tax
- Amusement Tax
- Business Openings
- Closed businesses
Additional measures that may be considered include (but not limited to):
- % increase in local/regional business district visitation (placer.aidata)
- % increase in M/W/D/EBE businesses
- % change in independent businesses
- % increase in retail/entertainment vs. other commercial
- % increase in M/W/D/EBE recipients of small business grants
- Social media account engagement
- Evanston Thrives website impressions
- Tourism/Visitor Spending impacts
- % change Hotel tax
Coming up
The next Economic Development Committee Meeting will be held on Wednesday, December 6, 2023, at 6 p.m. The meeting agenda will be posted on the web page 48 hours prior to the meeting.
Contact Us
Got questions? We want to hear from you! The Economic Development Division is available to connect with you to discuss new businesses, grants and other resources to help you expand your business, business district activities, community outreach events, and any new ideas you may have to improve Evanston’s business environment. We would also like to hear from you about features you would like to see in this monthly report, including data analyses and business features/interviews.
Visit our website to learn more about business support grants and programs and to register your business.
Feel free to contact us directly.
Paul Zalmezak, Economic Development Manager, 847.448.8013
Katie Boden, Economic Development Specialist, 847.448.8132
Neal Reeves, Economic Development Specialist, 847.859.7833
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