January 14th 2024.
Chicago, the bustling city known for its vibrant communities and thriving business scene, has recently announced a new initiative to revitalize vacant storefronts. With nearly $3 million in city support, these empty spaces may soon be filled with exciting new businesses, thanks to the efforts of Mayor Brandon Johnson and the Chicago Department of Business Affairs and Consumer Protection.
Fifteen community and economic development organizations have been selected to receive grants as part of the Small Business Storefront Activation Program. This program aims to support small business owners by providing them with the opportunity to test out their ventures in empty storefronts. Not only will this benefit the business owners, but it will also offer more options for local residents and visitors, according to a news release.
The chosen organizations will work hand in hand with small business owners and landlords to quickly transform bare storefronts into thriving business spaces. This could mean the arrival of pop-up businesses such as retail incubators, art galleries, and indoor farmer's markets. These plans will not only focus on well-known commercial areas like Michigan Avenue, but also on other neighborhoods such as Pilsen, Humboldt Park, Uptown, and Chatham.
This initiative comes at a crucial time, as the COVID-19 pandemic has caused a significant increase in commercial vacancy rates across Chicago. Brick-and-mortar businesses, which heavily rely on foot traffic, have been particularly affected, with many commercial corridors experiencing a decline in economic activity.
Mayor Johnson believes that small businesses are vital to the success of any community, stating, "We need to invest in our small businesses to generate economic activity, and the Small Business Storefront Activation Program will bring to life storefronts across the city and provide much-needed economic stimulus to historically disinvested communities."
BACP Commissioner Kenneth J. Meyer also expressed his enthusiasm for the program, saying, "The Small Business Storefront Activation Program will not only transform storefronts, but also entire communities. By promoting entrepreneurship, creating jobs, and attracting new consumers, we can positively impact commercial corridors throughout the city."
For those interested in participating in this exciting opportunity, they can fill out an application form and find more details on the official website. With this new initiative, Chicago is taking a proactive approach to support small businesses and strengthen its local economy.
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