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Economic development within the city has hit a five-year high, according to officials with the Berwyn Development Corporation.
The organization touted its own efforts that brought a slew of business into the city, with several more openings already slated for 2012.
The corporation noted that Berwyn issued 281 building permits in 2011 — more than any year since 2007. Berwyn also doled out more than $8.5 million in tax increment financing district money, also the highest figure since 2007.
A total of 11 TIF projects were also completed last year. Taxpayer dollars of $3.6 million spurred $12.5 million in development, resulting in the renovation or building of more than 58,000 square feet of commercial space.
A news release also quietly announced a fifth tenant to the Berwyn Gateway Plaza development at the Northeast corner of Harlem Avenue and Cermak Road. A Play n Trade video game store will complement a Buffalo Wild Wings, Chiptole Mexican Grill, Verizon Wireless store,and the Vitamin Shoppe in the city-led redevelopment project. That leaves only one vacancy open in the nearly-completed shopping center.
Economic development within the city has hit a five-year high, according to officials with the Berwyn Development Corporation.
The organization touted its own efforts that brought a slew of business into the city, with several more openings already slated for 2012.
The corporation noted that Berwyn issued 281 building permits in 2011 — more than any year since 2007. Berwyn also doled out more than $8.5 million in tax increment financing district money, also the highest figure since 2007.
A total of 11 TIF projects were also completed last year. Taxpayer dollars of $3.6 million spurred $12.5 million in development, resulting in the renovation or building of more than 58,000 square feet of commercial space.
A news release also quietly announced a fifth tenant to the Berwyn Gateway Plaza development at the Northeast corner of Harlem Avenue and Cermak Road. A Play n Trade video game store will complement a Buffalo Wild Wings, Chiptole Mexican Grill, Verizon Wireless store,and the Vitamin Shoppe in the city-led redevelopment project. That leaves only one vacancy open in the nearly-completed shopping center.
