Local Industrial Retention Initiative

Back of the Yards Neighborhood Council serves as a Local Industrial Retention Initiative(LIRI) agency, contracted by the City of Chicago to provide economic developmentservices to companies located in and around industrial corridors.

The City of Chicago’s Local Industrial Retention Initiative (LIRI) funds local non-profit industrial councils to provide planning and stewardship to the city’s 24 industrial corridors and business retention services to the companies that operate within them. LIRIs provide varied services including facilitating city services, marketing and assisting with public incentives, providing educational and networking opportunities, promoting the area and local business and planning and advocating for the long-term vitality of the industrial corridors.

BYNC can help with:

  1. Information about a particular industrial corridor, neighborhood or business industry
  2. Getting a new small business started
  3. Troubleshooting
  4. City-related issues for small businesses
  5. Connecting you to financial resources
  6. Business-to-business networking resources
  7. Employment and workforce development assistance

Businesses located in the LIRI may be eligible for the following programs:

  1. Cook County 6b Reduced Property Tax Designation
  2. Enterprise and Empowerment Zones
  3. Façade Rebate Program
  4. Historically Underutilized Business (HUB) Zones
  5. New Markets Tax Credit
  6. Small Business Improvement Fund (SBIF)
  7. Tax Increment Financing (TIF)
  8. TIFWorks
  9. Additional Economic Incentives

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