Economic Development

Get involved the various organizations in Mount Prospect. Clink on the links for more information related to membership and upcoming events!

The Mount Prospect Chamber of Commerce is a key partner for the Village. The Chamber promotes collaborations with business groups, stakeholders, Chamber members, Village staff, the Mount Prospect Library, non-profit organizations, and much more.  The Chamber aims to provide "something for everyone" and hosts expos, community events, business breakfasts, networking after hours, networking groups, and business workshops. For additional information, visit the Mount Prospect Chamber of Commerce site here.

The Mount Prospect Downtown Merchants Association (MPDMA) is an organization run by downtown businesses which hosts community events and promotions to benefit the community and your favorite downtown businesses. The association was formed in 2003 by a group of dedicated business owners who wanted to promote awareness of downtown Mount Prospect. The association primarily coordinates four community events: Saturday Night Car Shows (Bluesmobile Cruise Nights), Fall Festival, Oktoberfest, and various pub crawls. The MPDMA meets quarterly at the Mount Prospect Public Library. Visit the MPDMA site here for more information.

The Mount Prospect Public Library (MPPL) features two locations in the Village, one in the downtown (10 S. Emerson Street) and a south branch located at 1711 W. Algonquin Road. The MPPL serves Mount Prospect and neighboring residents through education, lifelong learning, and connecting people to information, and resources. For additional information, click the link here.

Other State and Federal Resources:

• Small Business Development Center at Harper College SBDC provides workshops and seminars on key small business areas to educate existing and prospective small business owners. They also provide individual business counseling/coaching, at no cost, to small businesses and individuals contemplating starting a small business.
• Illinois Department of Commerce and Economic Opportunity  The IDCEO provides business assistance and workforce development with special emphasis on technology, trade, tourism and film. Also catalogs Community Profile demographic information for communities throughout the state of Illinois.
• Illinois Department of Revenue The Illinois Department of Revenue serves as the tax collection agency for state government and for local governments. Business owners can register their business, file and pay business taxes through their e-Services portal.
• U.S. Department of Labor The Department of Labor’s mission is to foster, promote, and develop the welfare of the wage earners, job seekers, and retirees; to improve working conditions; advance opportunities for profitable employment; and assure work-related benefits and rights.
• U.S. Small Business Administration The U.S. Small Business Administration is an independent agency of the federal government which aids, counsels, assists and protects the interests of small business.  
• Illinois Department of Employment Security IDES provides unemployment insurance (UI), employment services and guidance to workers, job seekers, and employers. They combine job training programs in Illinois into a "workforce development" system where individuals can find a job or train for a new career.

The Mount Prospect Entrepreneurs Initiative (MPEI) is an award winning program that provides services and hosts events for any and all types of entrepreneurs and/or those looking to start a business for the first time. The webpage features a variety of information including; COVID-19 financial assistance to businesses, a business events and workshops calendar for upcoming virtual and in-person events, a podcasts series, the Village business resource guide, and several additional online resources and library focused databases for more information. For additional information on upcoming events, you may also contact the Community Development Department at 847-818-5328.

Looking for a new restaurant in the Village for takeout or dine-in? The Village's interactive restaurant map provides a cuisine organized database of all restaurants in the Village to find your desired taste.  Each icon provides the address, hours of operation, website (especially handy for takeout orders), and phone number for each restaurant. The interactive restaurant map is updated quarterly. More questions? Contact the Community Development Department at 847-818-5328.

The Village of Mount Prospect and Chamber of Commerce welcomes all new businesses to the Village. The Village and Chamber offers the opportunity to conduct a ribbon cutting when the business is ready to operate. To request a ribbon cutting, complete this form at least 14 days prior to your requested date and submit to Doreen Jarosz, in the Mayor's Office. Ribbon Cuttings are generally done between 9 AM and 5 PM, Monday through Friday. You will receive email notification with confirmation of your request or an alternate date / time. We even provide the big scissors and red ribbon!

For past ribbon cuttings, and additional information, check out the subpage here!

Entrepreneurial leadership is a key pillar in all economic development related initiatives within the Village. With that, the Village of Mount Prospect Economic Development Commission (EDC) elects a business for the following awards annually:

• The Budding Business Award, honoring businesses open fewer than five years
• The Enduring Business Award, honoring businesses open a minimum of five years
• The Entrepreneurial Businessperson of the Year, an award honoring an individual business owner or entrepreneur demonstrating exceptional civic and professional leadership.

All business categories are eligible, provided they have a physical presence in the Village of Mount Prospect. Honored businesses and individuals will have an established record of professional success and be representative of the Village’s strong and diverse commercial and industrial base. 

Information on how to nominate businesses for 2022 will be released later this year.

Previous EDC Award Recipients:

Contact us:

• Economic Development and Planning and Zoning
• EconDev@mountprospect.org
• 847-818-5328

The Chicago Metropolitan Agency for Planning (CMAP) released its updated Community Data Snapshot for the Village (July 2022 release). The document, which can be accessed here, provides a comprehensive demographics overview based on the latest American Community Survey and Census Bureau information. Within Economic Development, it is extremely important to understand each region and town to make the most informed decisions for the community. For more information on CMAP, which covers and provides data for the entire Chicago metro area, see the link here.