Posted: October 14, 2017
Choose DuPage Third Quarter Economic Indicators Report Shows Strong Climate to Help Regional Bid for Amazon’s Second Headquarters
DuPage County continues to boast low unemployment; lowest industrial vacancy rates in the region
Choose DuPage has released its 2017 Third Quarter Economic Indicators Report showing continued growth in DuPage County’s industrial market. Job creators and entrepreneurs are choosing DuPage County to build and expand their operations, while unemployment rates consistently remain lower than both state and federal levels. Data suggests DuPage County offers a business-friendly environment for a variety of industry sectors.
2017 Third Quarter Economic Indicator Report Highlights:
- DuPage County has sustained one of the lowest unemployment rates in the Chicagoland six-county region at 4.4 percent, lower than both Illinois (5.2 percent) and United States (4.5 percent).
- Industrial vacancy rates dropped another .2 percent from last quarter to 5.2 percent; DuPage County continues to have the lowest industrial vacancy rate in the region.
- DuPage County‘s current top job opportunities include positions in computers and mathematics, management, office and administrative support, sales, healthcare practitioners, business and finance, and transportation.
In addition to continued industry growth and steady absorption of both office and industrial vacancies, DuPage County is poised for the opportunity to welcome Amazon’s HQ2 to the region. Choose DuPage is working closely with the Illinois Department of Commerce & Economic Opportunity (DCEO) and Intersect Illinois as part of the regional effort to bring Amazon’s second headquarters to Illinois.
“The potential West Chicago site includes the DuPage Business Center near DuPage Airport, which would offer a unique opportunity for a variety of reasons – as well as the McDonald's campus in Oak Brook, which encompasses 100 acres, provides tollway access, and meets many of the other requirements outlined by Amazon,” said John Carpenter, president and CEO of the Choose DuPage Economic Development Alliance. “As I’ve said before, our low industrial vacancy rate has created an incredible opportunity for developers in the region – this is a prime opportunity, no pun intended, for DuPage County.”
Low taxes and operating costs, strong labor demographics, an educated and skilled workforce, proximity to hotels and dining, as well as shopping, golf and recreational activities are just a few of the benefits DuPage County hopes will attract continued business development for the region.
Read More →
Posted: October 12, 2017
Applications Open for EDGE Tax Credit
As you are aware, EDGE is a critical local economic development tool that incentivizes job creation and helps attract investment to every corner of Illinois. Last month, Governor Rauner signed House Bill 162 to extend the EDGE program through June 30, 2022. The legislation also made important changes to modernize the program to better serve businesses while offering more value to taxpayers.
After a thorough review of the new provisions, DCEO has submitted revised rules to the Joint Committee on Administrative Rules (JCAR). This move allows the Department to begin accepting new applications immediately. Please note that any new agreements entered into during the JCAR process will be subject to amendments based on final rule approval. A copy of DCEO's submitted rules can be found on our website.
If your company is interested in applying for an EDGE Tax Credit, please reach out to the Department at CEO.EDGE@illinois.gov.
Further updates will be provided as the rules process progresses. Thank you for your continued support of the Department.
Illinois Department of Commerce & Economic Opportunity
Read More →