Industrial Vacancy Rate Drops 50% in Elk Grove Village
Elk Grove Village is reaping the rewards of its efforts to be known as the most business friendly community in the U.S. With commercial development totaling $145 million in value and a 6.2% industrial vacancy rate - down by over 50% from a high of 12.49% in 2010 - the Village is experiencing a surge of business development activity.
Elk Grove Village is located adjacent to O'Hare International Airport with access to all interstates serving Chicagoland; it also is home to the nation's largest consolidated business park.
Those advantages became the foundation for an ongoing business enhancement campaign the Village began two years ago. It includes the Made in Elk Grove Manufacturing & Technology Expo regional networking event and creation of egvbizhub.com, a web portal for existing and potential business residents. Being "Beyond Business Friendly" also sparked a commitment by Village officials and staff to enhance customer service and implement programs such as online permitting, development ombudsman services, and relationship building.
"Those initiatives and our commitment to go beyond what is expected in everything we do have paid dividends for the Village, and that growth is good for both our residential and business residents," said Mayor Craig B. Johnson. "The data is clear. Elk Grove Village is the destination for regional development activity."
Also in 2014:
- The Village issued 2,295 building permits.
- 127 businesses have either moved in or expanded within Elk Grove - accounting for 1,621 jobs.
- The Village was named a 2014 Top 10 Best City for Global Trade by Global Trade Magazine.
- Several Elk Grove Village-based businesses rank among the area's largest companies, according to Crain's Chicago Business. Seven are on the 2014 list of the top 307 leading private firms (Topco Associates LLC, Fort Dearborn Co., Steiner Electric Co., Little Lady Foods Inc., Orsini Healthcare Inc., Arthur J. Rogers & Co., and Grecian Delight Foods). Two are on the list of the top 146 leading public firms (Sigmatron International Inc. and Atlas Financial Holdings, Inc.) Elk Grove is also home to First American Bank, ranked by Crain's as one of the 25 largest banks in the Chicago area.
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About Elk Grove Village, IL
Located adjacent to O'Hare International Airport, Elk Grove is an integral component of the Chicago Metropolitan Region's economy. Elk Grove boasts the largest consolidated business park in the United States with over sixty-two million square feet of industrial inventory and over one hundred million square feet of commercial space Village wide. Elk Grove's business community is diverse, with major employers representing a broad range of industries including: technology, manufacturing, retail, health care, warehousing, and logistics.
For more information, contact Mayor Craig B. Johnson at 847-357-4030.