Though it is nationally known for This American Life, WBEZ continues to produce high quality programming on various challenges facing both the city of Chicago and the state of Illinois. This podcast is from WBEZ's weekly Venture series, which looks to connect wider economic trends as they play out in Chicago. This podcast explores how the community of Englewood is looking to lure new businesses - and jobs - to a vast stretch of open land through new tax structures.
The nutgraf is quoted below:
The state's been slowly adding jobs again, but the gains aren't spread evenly. It's particularly tough to jumpstart the economy of a blighted area.
Take Englewood, for example. On 69th Street near Wentworth Avenue, there are 18 acres of vacant land that used to be Kennedy-King City College. That empty stretch of land – the size of several football fields – represents promise to many people in the community who would like to see the vast expanse translate into jobs. But they want something more than just big box stores.
A financial boost might come in May, when an economic development tool—tax increment financing—likely will be approved. With the TIF as a lever, residents have what you might call a business plan for the 67th Street corridor.
