Economic Development Information
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Demographics: (2000 US Census Data)

•    5,067 Owner occupied housing units
•    3,923 Renter occupied housing units
•    1,195 Vacant housing units
•    8,990 Total occupied housing units
•    10,158 Total roof-tops
•    Population 30,000
•    Median age: 27.9
•    28.4% of population over 25 are high school graduates
•    7.1% of population over 25 have an associate’s degree
•    5.7% of population over 25 have a bachelor’s degree
•    Median housing value: $70,500
•    Median household income: $31,958

Economic Development Incentives:

•    In-house Job Training representative (POET Program)
•    Employ Illinois: State Treasurer’s low interest loan program
•    Illinois EDGE: Offers tax credits to qualifying businesses that make a capital investment of at least $5 million and create a minimum of 25 new jobs
•    Illinois Finance Authority Loan Program: IFA assists Illinois businesses that create or retain jobs by offering a loan participation program in conjunction with their lender. Through this program the Authority will purchase up to the lesser of $500,000, or a 50% participation in the loan, directly from the borrower’s lender
•    5 TIF Districts
•    Enterprise Zone: The entire City of Harvey is within the Harvey-Phoenix-Hazel Crest EZ
•    Cook County Incentives: Class 6b is for industrial, distribution and warehousing enterprises while 7a covers commercial property and 7b serves industrial and commercial projects over $2 million.  Class 8 provides special tax incentives for industrial and commercial projects
•    Cook County Tax Reactivation Program sites

Local Developments:

•    Sahloul Plaza – New construction strip mall located at 159th and Lincoln Ave.
•    Nearly completed strip mall located at 154th and Dixie Highway.
•    New Illinois Department of Employment Security office located at 160th and Halsted.
•    Outreach strip mall located at 147th and Wallace.
•    New residential construction located at 147th and Givines Court (6 multi unit buildings with 4 townhouses each)
•    New home construction located at 160th and Loomis (16 new homes)
•    Over 54 total residential projects in various stages of development

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