Economic Development

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The Village of Mount Prospect is an excellent place to live and do business. The Village has several incentives and resources aimed at attracting new businesses and economic development opportunities while retaining and improving strong businesses and the talented labor pool that already exist in our community. These programs include economic incentives in the form of downtown exterior façade and interior remodel grants, provision of market information, and guidance through the development process.


Be sure to review the Business Resource Guide, which contains information about the various services provided to businesses by the Village of Mount Prospect, as well as helpful contacts for other business-related organizations.


We are customer service oriented and look forward to assisting you in your economic development efforts by helping you find the right building, land, workforce, training, or anything else you need to be successful in our Village. For more details about opening a business in Mount Prospect, please refer to the menu of business related items to the left, or contact the Village’s Community Development Director Bill Cooney at 847/818-5328 or email. Start your business

Interested in opening a new business?
The Village of Mount Prospect has partnered with the Mount Prospect Chamber of Commerce, Mount Prospect Downtown Merchants Association and the Mount Prospect Public Library to help new businesses get established by providing a package of innovative economic development resources. The Mount Prospect Entrepreneurs Initiative provides tools to help ensure business success - education, mentoring, marketing opportunities, and networking with successful entrepreneurs. 

Downtown TIF Update (As of October 7, 2016)
The Village Board will consider an ordinance at the October 18, 2016, Board Meeting that would dissolve the existing Tax Increment Financing (TIF) and initiate the process to create the Prospect & Main TIF.

Interested in learning more?
View the TIF Eligibility Study, and Redevelopment Plan and Project.

If you would like to receive notices related to the proposed Prospect and Main TIF, please complete and submit the Application for Inclusion in the Village of Mount Prospect’s TIF Interested Parties Registry.