The Village of Hoffman Estates Board of Trustees unanimously approved the Village’s new Economic Development Strategic Plan on November 21, 2022. The plan was developed over the course of 15 months in collaboration with community, industry, and government stakeholders, and will be used by the Economic Development Division of the Development Services Department to guide development efforts over the next five years.

After receiving Board approval in 2021 to update the Economic Development Strategic Plan, staff worked in collaboration with an outside consultant to obtain third party stakeholder feedback from public data sources and through a public survey. The plan had been last updated in 2005.

The feedback and data were used to formulate the strategic plan, which includes nine strategies developed to create an environment for the business community to succeed and prosper. The overall goal of these strategies is to improve the quality of life and the identity of the community while growing the Village’s tax base to ensure long-term financial sustainability. The economic development plan strategies include:

1. Attraction & Recruitment
2. Business Retention & Expansion
3. Foreign Direct Investment & Targeted Industry Clusters
4. Housing
5. Marketing & Communications
6. Quality of Life & Placemaking
7. Small Business Development
8. Tourism
9. Workforce Development

The plan includes an executive summary, a full existing conditions report, new incentive guidelines, and an improvement actions checklist. 

 For questions or comments regarding the plan, contact Kevin Kramer, Director of Economic Development, at 847-781-2662 or Kevin.Kramer@HoffmanEstates.org.