A $2.6 million content production studio is planned for East Garfield Park, supported by a grant and tax incentive introduced to the City Council by Mayor Johnson on May 20. The project, known as Axion Flame, would be located at 2640-46 W. Madison St. and is expected to provide a state-of-the-art facility for video production by Chicago content creators.
The proposal outlines that the new studio would create approximately 20 full-time and 10 part-time jobs in the area. Funding includes a $1.8 million Neighborhood Opportunity Fund (NOF) grant as well as a Class 7(b) Cook County property tax incentive estimated to save $313,218 over twelve years.
According to the announcement, “The 7(b) incentive supports projects that would not otherwise be economically feasible in areas determined to need commercial development.” The NOF grants are funded through fees collected from downtown construction projects and are intended to support investment along commercial corridors on Chicago’s South, Southwest, and West sides. Any NOF grant exceeding $250,000 requires approval from the City Council.
The Chicago Department of Planning and Development promoted efforts to enhance walkable neighborhoods and accessible waterfronts while advancing comprehensive growth policies across the city; it also had more than 150 staff members dedicated to improving Chicago’s built and natural environment according to the official website. Ciere Boatright served as commissioner of this department during these initiatives.
Looking ahead, if approved by City Council, this project could bring new opportunities for local creators while contributing further investment into West Side neighborhoods.
