Fluctuating businesses common for economy

Local News

CHAMPAIGN COUNTY, Ill. (WCIA) — You may have noticed some businesses closing up shop, but the good news is, several others will be opening their doors in the next few months.

The Champaign County Chamber of Commerce says it’s common for a growing city to see new businesses come to town. In a community this size, it’s just part of the economy.

Recently, The Loft announced it’s leaving Market Place Mall, but something new is expected to fill that space.

Also, over the weekend, it was learned Osh Kosh B’Gosh is leaving the Outlet Mall at Tuscola to move into a mall in Champaign. It’s an example of the ups-and-downs of retail stores.

While some places close their doors, other spaces are waiting to open with a new business. Oberweis and That Burger Joint are opening on South Neil Street.

New restaurants tend to be something the area is never lacking and the Chamber of Commerce says the ups-and-downs are not out of the ordinary.

Champaign was named the Fastest Growing City in the State, by the US Census Report. It’s also the only downstate community seeing an increase in income levels.

When a new business is interested in the area, there are several resources the entrepreneur works with. The Chamber is one of those, as well as city and local economic groups.

Business Insider found Champaign has the highest population change. It reports, between July 2015 – July 2016, it grew by more than 1% with an estimated 86,000+ people living in the city. 

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