Governor Quinn recently announced an independent study has identified Illinois as having one of the most thriving private sectors in the nation. The report stated that Illinois created 14% (18,000 plus) net private-sector business establishments from 2009-2012. Choose DuPage took a comparative look at how counties in Illinois contributed to this growth.
County Percentage of Total Growth in Illinois
Since 2009, DuPage County has added 1,451 new covered establishments – a 4.01% increase. That’s the largest increase among all collar counties. Some of those include; Orbus, UICO, Edward Don, and Dover Corporation. “Businesses choose DuPage because of our commitment to operating a prudent and fiscally sound budget. Through our efforts to keep costs low in addition to a favorable tax rate, we have reinforced and expanded our economic development opportunities,” said Dan Cronin, Chairman of the DuPage County Board.
DuPage County has experienced unprecedented growth in the last two decades, and has a Gross Regional Product (GRP) of $63.3 Billion. There are many factors that contribute to DuPage County being a premier global business location including a diverse business community, with major employers consisting of technology, manufacturing, retail, warehousing and logistics, and health care industries. DuPage County’s proximity to O’Hare International Airport, major interstates, and an extensive rail freight system (Chicago is the nation’s rail hub), means that businesses have access to clients or customers nationally as well as globally.
Consider the Benefits
- Location – At the heartbeat of the Midwest – the center of the nation’s busiest transportation hub
- Land – Enough to build big
- Workforce – Skilled, educated, competitive labor
- Financial Benefits – Savings on fuel, time, recruitment, incentives
- Quality of Life – It’s all here – education, entertainment, culture
This year, Choose DuPage will take part in two initiatives that will greatly impact the economic landscape of the region, and promote future development:
Western Access O’Hare
O’Hare International Airport is the nation’s second busiest airport, serving as a vital transportation link between the Chicago region and the rest of the world. However, its existing infrastructure is the cause of heavy delay and congestion. Currently, O’Hare is accessed from the east. The Western Access O’Hare project will give western access to the airport with an addition of a western roadway, allowing the region to meet future transportation needs.
The increased transportation and infrastructure will bring with it a modern and diverse economic base that will transform the region. The area will become a prime location for businesses to locate and future developments.
With unparalleled proximity to the airport, I-90, I-294, and I-290, businesses looking to locate in the newly available developments will be taking advantage of transportation gateways to the rest of the world. In an increasingly global economy, enhanced access to national and global markets, along with a reduction in delay time, will enhance the competitiveness and productivity of local businesses while facilitating economic growth.
Rev3 Innovation Center
Rev3 is an innovation center located in DuPage County, Illinois, with a focus on helping people and companies manufacture products, write software and develop technology to drive the third industrial revolution. Like many co-working spaces and incubators, a key feature of Rev3 will be the opportunity to collaborate with and share ideas with other users.
Rev3 and the digital innovations in technologies allow businesses to begin with low startup costs and an ability to begin production in an environment of like-minded people that foster an atmosphere of collaboration and knowledge sharing. Rev3’s vision is to allow companies to make physical products and do small volume manufacturing on premise before graduating on to a private facility. Through partnerships with local suppliers, Rev3 can help businesses begin their higher volume manufacturing including; printed circuit board assembly, casting, injection molding, and product assembly to ensure they will not have to go far to achieve large scale.
Rev3 is focused on building financially viable businesses. The facility will coalesce around passionate entrepreneurs, whether they are developing businesses on their own or commercializing technology invented at one of the area’s many universities, federal laboratories, or established companies who are committed to the success of their businesses and need affordable access to a range of equipment and expertise that does not exist in one place anywhere else in Illinois.
For more information on Choose DuPage, and the advantages to doing business in DuPage County, please visit www.choosedupage.com.