A new study has named North Chicago the second best small city in America to start a new business.
WalletHub study analyst Jill Gonzales said many sources were used to conduct the survey, including data from the U.S. Census Bureau and Bureau of Labor Statistics.
Gonzales said there are a many common traits found among small cities that lend themselves to good business.
“Small cities that are good for business offer abundant resources,” Gonzales said. “Like easy access to financing and a high prevalence of investors. Business costs are low, with affordable rent for office spaces, competitive corporate tax rates and cheaper labor costs.”
Gonzales said one advantage in North Chicago is competitive rent.
“When it comes to business costs, North Chicago has a much more affordable asking rate per square foot … North Chicago ranked second overall, propelled by having the best business environment with the highest average revenue per business at $66 million annually,” she said.
North Chicago entrepreneur Jason Newman agreed the city is business friendly and recently opened the craft beer bar and gambling parlor BeerAbility on Sheridan Road.
“From a business owners standpoint there’s openings, there’s space available,” Newman said. “You have a city that’s open to working with you from an economic development standpoint, just to help you along the process.”
Newman said the North Chicago government was also helpful in opening BeerAbility.
“Their economic development director at the time was instrumental at helping us out with the liquor license process which was the first step in this,” he said. “The building itself was a shell. We really built the inside of it out completely. It didn’t have water or anything like that, it only had HVAC. Every step of the way they said what can we do for you, how can we help you with the process? It was an open door. We haven’t encountered anyone that’s been an impediment to us getting things done.”
Newman said North Chicago is ripe for business, but is finding it hard to leave behind it’s prior reputation as a high crime area.
“People unfortunately hear a name but they don’t do due diligence on the town,” Newman said. “They don’t know they people. It’s interesting because people will say, ‘oh my gosh, how could you open there?’ And I’ll say I’m proud of it. You don’t know the people.”
Just a few blocks up Sheridan Road is a business that has witnessed North Chicago’s change over the last decades.
Daniel McAllister, of McAllister Sign Company, inherited the business from his father, who established the store in 1952. McAllister said there was once a time when crime was rampant on Sheridan Road.
“A few years back, it was kind of rough on this block,” McAllister said. “Drugs, prostitution. It was everywhere around here. Terrible, Terrible. People were coming around trying to get a job. Not that I would turn anybody away, but they can’t do what I do.”
McAllister said that this is no longer the case, and credits the opening of a nearby police station with the decline in crime. McAllister said he doesn’t understand why there aren’t more businesses opening in North Chicago.
“They cleaned that up really good.” McAllister said. “I just wish there would be more people down here so we could get more stuff going. I don’t know what the hold up is.”
Michael Joyce is a freelancer for the News-Sun
