Posted: November 26, 2017
ComEd Expands, Digitizes Itasca Substation to Meet Anticipated Regional Growth
Increased energy capacity to help power development of new data centers and western O'Hare construction
ComEd has broken ground on an expansion project at its Itasca Substation as part of a long-range plan to meet an anticipated need for more power in the region, in part due to expected growth in the construction and operation of data centers in the Elk Grove area as well as business in the western O'Hare market.
Features of ComEd's newly expanded facility also will increase energy capacity within an approximate five-mile area—enough new capcity to ultimately serve the power equivalant of 80,000 residential homes. The new substation is designed with an "Intellegent Substation Dashboard," which offers digital technology that makes it easier for ComEd to identify potential issues and respond quicker.
"ComEd actively supports economic development throughout northern Illinois, and substation projects, like the Itasca expansion, will help ensure the electrical infrastructure is in place to meet the region's growth and future energy demand," said Fidel Marquez, senior vice president of Governmental and External Affairs. "We look forward to working with prospective businesses like data centers and other operations who are interested in moving their companies into the area."
"Elk Grove is one of the most desirable data center locations in the Chicagoland market and the new Elk Grove Technology Park provides additional sites for growth," said Elk Grove Village Mayor Craig Johnson. "With ComEd's electricity capacity expansion projects underway, existing and future businesses will have the confidence that power requirements can be met now and well into the future."
"The western O'Hare market and projected growth of 65,000 new jobs by 2040 in the new Illinois tollway corridor is an important initiative for Choose DuPage," said John Carpenter, Choose DuPage President & CEO. "We can now add ComEd's substation expansion as one of the many reasons for businesses to grow in or move to DuPage County."
ComEd has multiple existing substations serving customers in the area and goes through an annual short- (5-year) and long-range (10-year) planning process to assess expected load growth based on economic forecast modeling and actual customer usage.
Additional long-range capacity plans for the area call for construction of another new ComEd substation in north Elk Grove Village in the future.
ComEd's grid modernization program, called Smart Grid, is almost complete and has contributed to record reliability for its customers over the last four years. Now the company is focused on implementation of the Future Energy Jobs Act (FEJA), ground-breaking legislation which will build off the Smart Grid foundation to help move Illinois to a clean energy future and provide greater access to renewables, energy efficiency and valuable job training within Illinois communities.
Read More →
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 →