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Economic Development

Stakeholders pulling together to create a more desirable business environment

Creating a sustainable, flexible, desirable business environment requires a number of stakeholders to pull together – for the long run. In 2015, the village, in partnership with the chamber, created the Oswego Economic Development Commission (EDC) to assist the village’s economic development department in its efforts to attract new businesses and encourage expansion of existing businesses.

Residential impact fees streamlined and reduced

To facilitate new growth, the Oswego Village Board lowered the impact fees for new residential developments and also established a single impact fee. The impact fee to be distributed to the various taxing bodies is set at $15,500. This fee does not include the building permit fee. All fees will be collected by the village to streamline the submittal process.

TIF study for downtown underway

The Oswego Village Board authorized Kane, McKenna and Associates has authorized a tax-increment financing (TIF) study and redevelopment plan for the downtown area. The study would identify the boundaries of the TIF district. The 2015 Comprehensive Plan has identified major catalytic projects to revitalize downtown Oswego which resulted in the village approving the study. Developers, real estate brokers and investors interested in learning more about these projects or other development opportunities may contact the Oswego economic development staff at (630) 551-2334.

New Businesses

The Oswego community welcomed 49 new commercial businesses in 2015. A variety of new commercial businesses opened their doors in Oswego including Win Soon Chicago, DSW Shoe Warehouse and Lou Malnati’s Pizzeria to name a few. There were 622 commercial businesses in Oswego at the end of 2015 compared to 624 at the end of 2014 indicating a very stable growth market.

Shop, Dine & Experience!

New and exciting retail stores and restaurants are underway in Oswego. Check out the stores that are open recently and stores that are expected to open soon.

“Oswego’s loan incentive and tight-knit community drew us here. We look forward to sharing our passion, expertise, and delicious products with Oswego residents.”
— Tom Dobbels, Sages Meat Market

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