Mayor: Elk Grove's economy enviable in current market
Elk Grove Village's virtually half-and-half mixture of homes and businesses has landed it in the perfect place for the current economy, Mayor Craig Johnson said Thursday in his annual State of the Village address to the business community.
“I talk to these mayors in other towns with shopping centers. They're scrambling,” Johnson said.
For a long time it seemed that a 95 percent occupancy rate in the village's business park — the nation's largest contiguous industrial park- was the best the village could dream for, Johnson said. But occupancy currently stands at 98 percent.
And the village collected $20 million in sales and other consumer taxes during the 2017 fiscal year, a big part of why Elk Grove now can claim to have the lowest municipal property tax in Northwest Cook County, he added.
“We're humming like we never have before,” Johnson said. “There's never been a better time to be mayor of Elk Grove Village.”
Another bright spot on the horizon is the Elk Grove Technology Park planned for the Busse Farm property off Higgins Road.
Not only does it represent a new source of outside investment, but it's also triggering improvement of existing properties like the neighboring Fuller's car wash, Johnson said.
Elk Grove is not squandering this prosperous period, but investing $125 million into a comprehensive infrastructure improvement program called Elk Grove 2025, the mayor said. Amenities including the public works buildings and fire stations, roads and roadside aesthetics already are being addressed, he added.
Having roads in top condition is a priority for residents and business, Johnson said. Among other traffic, 90,000 tons of freight are trucked in and out of the village every day.
The village also is investing $500,000 on a new “Recovery Life Program” to help residents and workers battling opioid addiction. Johnson hopes other local governments follow suit.
“We've got to get rid of the stigma attached to this,” he said. “We need to get these people help.”