Now in Hoffman Estates:
A quarterly update on the real estate and business industry in 
Hoffman Estates, Illinois.
In this Issue:                                  Q4 2015
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Now in Hoffman Estates

 
Hoffman Estates has a lot of activity at the end of 2015: Most of the projects from last update have begun site work; new retailers and restaurants have opened; and the Chicago Bulls are bringing their D-League team to town. It's a great time for Hoffman Estates and we look to continue to build on the momentum going forward. If you have any questions or comments please don't hesitate to contact me.
Thanks,
Kevin Kramer
Director of Economic Development  
Bulls Basketball in Hoffman EstatesBulls_Basketball
The Chicago Bulls give Mayor McLeod a jersey to commemorate the announcement of playing their D-League team games at the Sears Centre Arena in Hoffman Estates.
The Chicago Bulls now own an NBA Development League team who will begin playing games at the Sears Centre Arena in the fall of 2016! In November, the Village approved a lease that would allow the team, to be named by fans, to play all 24 home games at the SCA in the 2016-2017 season. 
  • Pictures of the press conference can be seen here.
  • Pictures of the caravan that toured around Hoffman Estates can be seen here.
For more information, including tickets and sponsorship opportunities, visit www.BullsDLeague.com

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Available IncentivesIncentives
This section covers any available incentives that you may or may not know about for businesses. While it won't be a complete list please contact Kevin Kramer if you know of any other incentives, grants, programs or trainings which may be helpful for other businesses.
Job Creation Tax Credits: While previously being suspended due to the State's budget stall, the EDGE Credits are back, with a few minor changes. The EDGE program is designed to offer a special tax incentive to encourage companies to locate or expand operations in Illinois and provides tax credits to qualifying companies, equal to the amount of state income taxes withheld from the salaries of employees in the newly created jobs. This is perfect for the company looking to make a capital investment of more than $5 million dollars and hire at least 25 new employees.   Click here for more information on the minor changes to the program.
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Angel Investment Credit Program: The Angel Program offers a tax credit to qualifying claimants in an amount equal to 25% of the claimant's investment made directly in a qualified new business venture. The purpose of the Angel Investment Program is to attract and encourage the placement of investment dollars into early-stage, innovative companies throughout Illinois. Businesses desiring the qualified new business venture status must register for each taxable year in which the business desires registration and must adhere to certain requirements. Go to the   state's website here for more information.
Cook County Class 6b SER: Amidst the plethora of property tax credits which Cook County offers commercial land owners they now have a Class 6b Sustainable Emergency Relief (SER) which is aimed at businesses who have been in business in the same Cook County building at least 10 years. The program lowers the property owner's taxes by about half over a 12 year period. There are several other factors a company must meet to be eligible for the SER program but it's designed to help companies in Cook County grow in Cook.  Click here for more information and contact Kevin Kramer.
Business ResourcesResources
Need Creative Financing? Try an SBA Loan
With a low down payment; a low, fixed rate; and a longer term, a Small Business Association loan could make sense if you're looking to purchase land, equipment, building space or need working capital to grow your business. Watch this short video for more information and check out SomerCor's website for opportunities for a great loan. 
Free Tips to Improve your Company
The Illinois Manufacturing Excellence Center provides many resources for industrial sector companies to improve all facets of their organization. From Reducing Set-Up Times to Improving Energy Efficiency to Marketing Steps meant to Help the Bottom Line , IMEC has suggestions for many areas of a manufacturing company.  Email Cary   for more information.
Available Properties
If you're looking to expand your business, open a new business or just need a new office view, check out www.HoffmanEstatesSites.c om to find a new building or site. This online database of available properties is a complete list of space available in Hoffman Estates. The free database allows you to search by type, square footage and several other factors. It provides a dozen demographic reports from ESRI for each specific site.
Small Business Association Free Resources 
The mission of the Small Business Association (SBA) is to help Americans start, build and grow businesses. If you're looking for help, alternative loan options or just need advice on growing your business, check out the  SBA Resource Guide for all types of services. Contact Stephen Konkle for more information on how the SBA can help your business grow!
Business VisitsBusiness-Visits
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Business Outreach Visits
The Village continues to meet with businesses to offer assistance or address questions and concerns.  We would love to tour your facitility and understand how we can help you grow and thrive in Hoffman Estates. If you'd like a meeting with the Mayor, Village Manager or Economic Development Director please contact Kevin Kramer, 847-781-2662.
Si ncerely,
 
Kevin Kramer
Director of Economic Development
Village of Hoffman Estates
847-781-2662