Our Economic Plan

Economic development is essential for taxpayers, as it strengthens the financial foundation of Winthrop Harbor while reducing the individual tax burden. The village’s strategic location between Chicago and Milwaukee, coupled with its proximity to Lake Michigan and North Point Marina, positions it as a prime destination for businesses, tourists, and visitors. By attracting new retail, dining, and recreational opportunities, Winthrop Harbor can significantly boost sales tax revenues, providing a steady stream of funding for essential public services like infrastructure, public safety, and parks. This expanded sales tax base reduces reliance on property taxes, ensuring more balanced and sustainable municipal funding.

Winthrop Harbor’s unique advantages also support long-term economic resilience. Retail and tourism activities driven by its lakefront location and regional accessibility help generate additional sales tax revenue that can be reinvested into community infrastructure, parks, and public amenities. By leveraging its strategic location to create a vibrant commercial and tourism sector, Winthrop Harbor can maintain high-quality services while minimizing financial burdens on residents, fostering a thriving and self-sufficient economy that benefits all taxpayers.

Winthrop Harbor has taken a number of key steps over the past 25 years to formulate a viable plan of action for development, as well as to set up the critical guidance documents and tax incentives which can attract quality investors and developers.  A brief summary includes:

• The Station Area Plan that brought the attractive light poles, decorative sidewalks and streetscapes to 7th Street.

• The new Downtown zoning code that streamlines the process of building larger structures in our downtown core area.

• The new Comprehensive Plan which lays out the overall goals and desires of the community – our “road map for the future”.

• The Sheridan Road TIF district which is accumulating funds for some big projects that will come in short order.

• The Sheridan Road Economic Recovery Zone which provides state tax incentives to builders along this arterial highway.

• Forward-thinking amendments to the zoning code and related land use codes intended to bring about incremental changes in landscaping and refreshed or new buildings in our business zones.

1. Strategic Location Utilization

• Leverage proximity to Chicago and Milwaukee to attract regional visitors, businesses, and investments.

• Enhance access to transportation networks to support logistics and commuter connectivity.

2. Lakefront and Tourism Development

• Maximize the potential of North Point Marina, the largest marina on the Great Lakes, by enhancing amenities and marketing it as a premier destination for boaters and tourists.

• Collaborate with nearby attractions like Illinois Beach State Park to boost eco-tourism and recreational activities.

3. Housing Priorities for Winthrop Harbor

• Transition Housing for Empty Nesters – Expands housing diversity to addresses the immediate need for downsizing options that allow long-time residents to remain in the community while reducing maintenance and housing costs.

• Multifamily Housing Development – Expands housing diversity to attract young professionals, active adults (55+), families, and seasonal visitors.

• Mixed-Use Residential Spaces – Encourages vibrant, walkable districts by integrating ground-floor retail with residential space above, supporting economic growth and live-work opportunities.

• Completion of Unfinished Residential Lots - Prioritizes the development of incomplete subdivisions by working with builders and investors to finish infrastructure and construct housing, maximizing land use and increasing the housing supply. 

• 9th & Lewis Property – Provide assistance and collaboration to the property owner for the marketing and development of this R-2 zoned residential property, supporting strategic growth and increasing the local housing supply.

4. Sheridan Road Corridor Revitalization

• Redevelop the Sheridan Road commercial corridor with mixed-use projects that combine retail, dining, and residential spaces.

• Utilize Tax Increment Financing (TIF) to incentivize private investment and improve infrastructure.

• Utilize of the Sheridan Road Enterprise Zone

5. Community-Centric Development

• Expand local amenities, including unique dining, shopping, and entertainment, to meet the needs of residents and visitors.

• Support small businesses and startups with resources, partnerships, and grants.

6. Marketing and Branding

• Promote Winthrop Harbor as a “boater community” through strategic marketing campaigns and partnerships with organizations like Visit Lake County.

• Use innovative strategies to target potential visitors and investors.

7. Partnerships and Collaboration

• Foster strong relationships with regional and state organizations to attract grants, resources, and investors.

• Engage with residents and stakeholders to ensure projects align with community values and priorities.

8. Sustainable Growth

• Prioritize environmentally friendly development practices, especially along the lakefront and natural areas.

• Encourage projects that align with long-term economic and environmental sustainability goals.

1. Short-Term (1–2 years) 

• Launch marketing campaigns, establish partnerships and begin Sheridan Road revitalization planning. 

2. Mid-Term (3–7 years)

• Implement infrastructure improvements, expand marina and tourism amenities, and attract initial investments in mixed-use projects.

3. Long-Term (7+ years) 

• Achieve full Sheridan Road redevelopment, enhance regional connectivity, and position Winthrop Harbor as a model destination-based community. 

Winthrop Harbor’s unique assets and supportive leadership provide an excellent foundation for growth. This plan aims to capitalize on these strengths to create a thriving, sustainable, and attractive community for residents, businesses, and visitors alike.