The Economic Strategy Commission shall act in an advisory capacity to the Village President and Board of Trustees. It shall:
Within parameters authorized by the board of trustees, review and recommend additional steps and measures deemed appropriate to the accomplishment of sound economic growth and a harmonious environment, retention of existing business, and attraction of new business.
Focus on business recruitment efforts by understanding sales tax leakage, Northbrook’s consumer base, building vacancy, and targeted solutions.
Focus on business retention efforts by understanding which business sectors are poised for growth and identifying partners and infrastructure necessary for growth.
Conduct economic analysis of when and at what level incentives should be used for recruitment and retention. The Commission should understand when economic incentives are available to the Village and identify additional tools, if any, which should be considered.
Develop templates to report to the Board of Trustees regarding economic industry trends and their future impact on Northbrook.
Discuss Village reputation/image, marketing and branding efforts in relation to the business community and residents.
Within parameters authorized by the board of trustees, the commission may, at its own initiative, engage in specific activities beyond the scope of those listed above.
The Economic Strategy Commission shall consist of seven members. Members shall be residents of the Village or representatives of businesses or organizations conducting business in the Village. To maintain a diverse membership, no more than two members should be from the same sector/professional affiliation. Each member of the commission shall serve a term of three years.