Economic Development
As stated by the International Economic Development Council, "Economic development is programs, policies, and activities that seek to improve the economic well-being and quality of life for a community by creating and retaining jobs and providing a stable tax base. Ultimately, economic development is a revenue strategy for a community, generating additional tax dollars from new business investment." Similarly, the U.S. Economic Development Administration views economic development as "creating the conditions for economic growth and improved quality of life by expanding the capacity of individuals, businesses, and communities to maximize the use of their talents and skills to support innovation, job creation, and private investment."
Economic development is unique and complex. There is no one-size-fits-all approach. It is about growing constructive and sustainable relationships with residents, businesses, and community stakeholders. To that end, the Village will continue investing in economic development work by:
Economic development is unique and complex. There is no one-size-fits-all approach. It is about growing constructive and sustainable relationships with residents, businesses, and community stakeholders. To that end, the Village will continue investing in economic development work by:
- Marketing and championing Savoy as a business- and development-friendly community.
- Being deliberate and strategic in efforts to attract and retain new businesses and new jobs.
- Being innovative and committed to helping the business community grow and expand.
- Helping existing businesses connect with the appropriate resources to help them resolve problems that could cause them to fail, close, or move away.
- Collaborating with community partners to help prepare residents for available careers; to connect businesses with skilled workers; and to contribute in building a pipeline of future workers.
- Letting the market guide the Village's economic development investment decisions.
- Being judicious with public resources and ensuring that there is a significant and sustained public benefit in any eligible project.
Avaliable Property
Available within the Village are acres of undeveloped residential and commercially zoned parcels with attractive locations and on-site infrastructure, including reliable power services provided through Ameren Illinois and clean water provided by Illinois American Water. The Urbana-Champaign Sanitary District provides wastewater services to most properties within the Village. Vocational and classroom educational opportunities are provided through the University of Illinois and Parkland College. Additionally, the Village is strategically located between I-57 and US 45. With pime locations near the Willard Airport, the region's only commercial airport, the Village is the perfect spot to start or restart a business. The Village is also an amazing place to live and raise a family. Depending on the situation and the public benefit, the Village may offer business incentive packages.
Contact Information
Address: 611 N. Dunlap Avenue
Savoy, Illinois 61874
Phone: (217) 359-5894
Email:. ced@savoy.illinois.gov
Hours: 8:00 AM to 4:30 PM
Connect with Economic Development Resources
- U.S. Small Business Administration
- Illinois Department of Commerce and Economic Opportunity
- Champaign County Economic Development Corporation
- Champaign County Chamber of Commerce
- Champaign County Black Chamber of Commerce