Category: News

Fourth Quarter 2015 Economic Indicators

Posted on | by brent

 

Here is the economic indicators report for the fourth quarter of 2015.

 

Sales Tax Receipts

 

DuPage County sales tax receipts were $359 million in the third quarter of 2015, compared to $339 million in the third quarter of 2014. This is an increase of 5.7%. Sales tax receipts are reported on quarter in arrears, compared year-over-year to accommodate seasonal changes.

 

Unemployment Rate

 

The unemployment rate rose to 4.5% in the fourth quarter of 2015, compared to 3.9% in the third quarter of 2015. DuPage County has the lowest unemployment rate in the region, and also lower than both the State of Illinois at 5.9% and the U.S. at 4.8%.

 

Vacancy Rates

 

The office vacancy rate dropped to 16.1% in the fourth quarter of 2015 compared to 16.2% in the previous quarter and 17% at the same time last year. The industrial vacancy rate also declined in the fourth quarter of 2015 to 5% from 5.4% in the previous quarter. The industrial vacancy rate in DuPage County continues to experience an almost continuous five-year decline. Click here to view the full report. 

Lombard Community Development Department Launches Information Series Regarding Retail

Posted on | by brent

 

LOMBARD, Illinois — The Village of Lombard’s Community Development Department recently launched an online informational series about the process of opening a retail store in Lombard and the Village’s role in business attraction and retention.

 

 

The series, titled From Ground Breaking to Grand Opening: Retail in Lombard, features separate informational pages discussing site location factors, zoning and costs, Village involvement, and business retention. “Recently, with so many new businesses opening here in Lombard, people are curious about what’s going on behind the scenes,” said Lombard’s Assistant Director of Community Development Jennifer Ganser. “From the sidewalk, it can be hard to tell what’s going on when a business is under construction. We’re happy to be able to provide this useful information to anyone interested in learning more about new businesses in Lombard, and the Village’s role. Any time we can answer questions for our residents, we’re glad to do so.” The series supports the Village’s commitment to fostering positive relations in the development community, and maintaining transparent communications with residents. To view the full series, visit villageoflombard.org/retail. This 5 part series will be shared out via the Village’s weekly e-newsletter. To sign up visit villageoflombard.org/notifyme. For more information contact Jennifer Ganser at (630)620-5717

AT&T Fiber Reaches 1 Million New Business Customer Locations

Posted on | by brent
AT&T today announced that it has added 1 million additional business customer locations to its fiber network since 2012 when the company began its aggressive fiber expansion program. The expansion helped extend the AT&T U.S. fiber network another 76,000 route miles, bringing the total to nearly 500,000. AT&T offers business customers high-speed Internet products on its fiber network in every major metro in the company’s 21-state footprint. Continue reading →

Molex Expands its Medical Business with Innovative New Capabilities

Posted on | by brent
Molex, LLC will bring its deep expertise and wide range of solutions for the medical industry to MD&M West, February 9 – 11, booth 1746. Through its ongoing investment in research and development, as well as its strategic acquisitions and partnerships, Molex has built an extensive portfolio of solutions that medical original equipment manufacturers (OEMs) can integrate into their groundbreaking healthcare devices in diagnostic, therapeutic and patient monitoring applications. Molex remains committed to designing and manufacturing solutions that move the medical industry forward, while containing costs and keeping patient care and safety at the top of the list. Continue reading →

CBRE Global Outlook Foresees Moderating Growth in Commercial Real Estate Rents and Investment Activity in 2016

Posted on | by brent
Moderate economic growth with low interest rates, punctuated with bouts of pessimism and volatility—the factors that have characterized the world economy for the past few years—are likely to continue in 2016, supporting moderate growth in commercial rents and investment sales volume globally, according to CBRE Group, Inc.’s 2016 Global Real Estate Market Outlook, released today. Continue reading →

DuPage County Retains AAA Bond Rating

Posted on | by brent

The DuPage County Board announced recently the County has retained its AAA bond rating, the highest possible, during recent reviews with Fitch Ratings and Standard & Poor’s (S&P).  

County Board Chairman Dan Cronin said the AAA bond rating is especially significant when many government entities are struggling with large deficits or unpaid obligations. This recognition will give the County access to lower interest rates, which in turn provides excellent value for residents. Continue reading →

Pace’s Higher Pre-tax Benefits Celebrated

Posted on | by brent
As tax season begins, U.S. Senator Dick Durbin (D-IL) joined Pace Chairman Richard Kwasneski and other local transit officials to encourage employers and mass transit commuters to take full advantage of a tax benefit that was strengthened and permanently extended by Congress late last year. The tax-free benefit could yield $1,000 annually in federal and state tax savings for qualified mass transit commuters.   Continue reading →