Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Gurnee lauds business growth, cites $1 million in capital grants that spurred $5 million in private improvements
Summary
Mayor Tom Hood celebrated business expansion in Gurnee, credited a village capital-grant program that has awarded $1 million since 2021 and said it produced roughly $5 million in private upgrades, and named new and expanding firms that drove high occupancy at Gurnee Mills.
Mayor Tom Hood used Gurnee’s State of the Village address to highlight a year of business growth and continued economic-development work, saying the village has leaned into recruiting and supporting businesses because it does not levy a real-estate tax.
“We don’t have a real estate tax and we look to other places for our revenue, and that’s our businesses largely,” Hood said, adding the village has about 1,260 businesses. He said the village’s capital-grant program, launched in 2021, has awarded $1,000,000 since its start and that recipients have completed about $5,000,000 in improvements.
The mayor presented a Pinnacle Performance Award to Teriyaki Madness franchisee Drew Phillips, noting the store ranked first in Illinois and fifth nationally among company locations. Hood also credited Economic Development Director Ellen Dean for outreach efforts and said Gurnee Mills is about 95% occupied, with new arrivals including Sky Zone and several national retailers that the village could not yet name publicly.
Hood framed business support as both recognition and direct assistance: the village runs ribbon cuttings, a chamber partnership that produced 29 ribbon-cutting events this year, and a staff-run capital-grant review process to ensure funds are used appropriately. “It’s money with a purpose,” Hood said, describing the intent to help businesses look and perform better while protecting residents’ quality of life.
The mayor noted the village recorded roughly 120 new business openings during the past year and described Gurnee as a major regional attraction because of anchor institutions such as Six Flags, Gurnee Mills and Great Wolf Lodge.
The address did not include a separate vote or ordinance; the remarks describe existing programs and planned capital investments for 2026. Hood attributed counts and dollar figures to village records and his office’s presentations during the speech.
