Cook County Board President Toni Preckwinkle announced the launch of the Southland Development Authority (SDA) at an event in Thornton, joined by business, philanthropic, and community leaders. The SDA is a new organization intended to stimulate economic growth and attract large-scale investments in the south suburbs of Chicago.
According to Preckwinkle, “The SDA represents a powerful and dynamic institution that will drive economic growth and attract new investment across more than 40 municipalities. We have worked closely with the business and philanthropic communities, residents and elected officials to develop this innovative approach for an important but often overlooked part of the Chicago region.”
The SDA was created through collaboration among various stakeholders as part of the South Suburban Economic Growth Initiative. Its structure is modeled after similar development authorities in other parts of the country, aiming to become financially self-sustaining within a few years. Initial funding has been provided by Cook County, the MacArthur Foundation, The Chicago Community Trust, Illinois Department of Commerce and Economic Opportunity, Elizabeth Morse Charitable Trust, and Elizabeth Morse Genius Charitable Trust.
The south suburban area is described as having significant untapped potential for development. The SDA plans to partner with developers, investors, and other stakeholders to encourage regional economic activity.
Preckwinkle emphasized her administration’s focus on supporting this region: Cook County’s Bureau of Economic Development will invest over $50 million next year in public and private projects including affordable housing, social services, infrastructure improvements, disaster recovery efforts, job training programs, as well as support for organizations such as the South Suburban Mayors and Managers Association and the South Suburban Small Business Development Center.
“These investments are important, but government resources alone are not enough,” Preckwinkle said. “It will take much more than that—which is why we are here today. We all share a vision to re-establish the south suburbs as an economic powerhouse.”
Carter Sterling, President of Sterling Lumber and founding co-chair of the group behind SDA’s creation stated: “We needed to do something different. Old methods of dealing with economic growth in the south suburbs are not working anymore.”
Vernard Alsberry Jr., Mayor of Hazel Crest added: “As an elected official, I have seen first-hand the enormous challenges facing businesses and residents of the Chicago Southland. We need an approach that allows us to end historical fragmentation and local competition then move forward, together, through coordinated, well-managed investments.”
For additional information about these initiatives or Cook County’s Bureau of Economic Development visit https://www.cookcountyil.gov/bureau-of-economic-development.
