The village of Oak Park is taking significant steps toward strengthening its local economy through a comprehensive economic vitality plan.
Developed by Camoin Associates, Inc., the plan seeks to address key economic challenges while building on the community’s strengths.
The final version of the plan is expected to be presented to the Oak Park Village Board in March 2025, following community input and board feedback.
Community Strengths and Challenges
Oak Park residents have expressed appreciation for the village’s walkable neighborhoods and vibrant small business scene, according to Camoin’s preliminary report.
However, concerns remain about high taxes, limited parking, and the need for better access to public transportation. These issues were identified through a community survey conducted as part of the planning process.
Dan Gundersen, senior vice president of Camoin Associates, emphasized that Oak Park already outperforms neighboring municipalities on several economic and social indicators.
The village boasts a high labor force participation rate, a growing population, and a higher median household income. However, Gundersen noted, “Economic vitality is about taking a step above. Oak Park is already number one in many areas, but there’s always room for improvement.”
Plan Development and Key Goals
Hired in July 2024 at a cost of $125,000, Camoin Associates has been working to create an economic vitality strategy that includes baseline metrics and both short- and long-term objectives.
The plan aims to strengthen Oak Park’s tax base, support local businesses, and enhance the quality of life for residents.
Camoin’s initial findings point to opportunities for growth in specialty food retailers, arts and crafts boutiques, and other small businesses.
Gundersen also highlighted the need to make it more cost-effective for small businesses to renew leases and stay in operation.
The report outlines several interconnected goals, including:
- Improving the perception of conducting business in Oak Park.
- Increasing tax revenue through strategic development.
- Expanding shopping and entertainment options.
- Adding housing units to meet demand.
- Enhancing academic and career pathways for residents.
- Supporting minority- and women-owned businesses through funding and technical assistance.
Trustee Feedback and Concerns
While the plan has potential, some Oak Park trustees expressed reservations about the preliminary report during a recent board meeting.
Trustee Cory Wesley, a former chair of the Oak Park Economic Development Corporation, criticized the report for lacking focus on diversity and failing to explain the significance of its data.
“The only focus on Black residents seems to be related to educational inequities, which we already know,” Wesley said. “What I would have liked to see is how our economic environment impacts minority and women-owned businesses.”
Camoin has since stated that they are exploring ways to support these businesses, including workforce development programs and funding sources.
Trustee Ravi Parakkat noted that the report validates much of what residents and trustees already understand but pointed out that it lacks attention to specific concerns, such as panhandling near small businesses.
Trustee Brian Straw appreciated the report’s emphasis on how housing, transportation, and business success are interconnected.
He suggested that elements like bike lanes and improved parking could play a crucial role in driving economic growth.
Challenges of Space and Strategic Growth
Oak Park’s small size—just 4.7 square miles—poses a unique challenge for development.
Trustee Chibuike Enyia stressed the importance of being strategic and ensuring growth aligns with the community’s values. “We need to grow within our constraints and uphold our values,” Enyia said.
Next Steps
Camoin Associates will host a community open house on Feb. 18 to share goals and gather additional input.
The final economic vitality plan, incorporating feedback from both residents and trustees, is expected to return to the board in March.
The plan represents a critical opportunity for Oak Park to address its challenges and build a stronger, more inclusive local economy.
With a focus on collaboration and strategic action, the village hopes to maintain its position as a leader in economic and social vitality while fostering growth that benefits all its residents.
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