EDG News

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The U.S. economy is showing signs of improvement in the opening weeks of 2026, but rising federal budget deficits could push interest rates higher and create longer-term challenges for businesses and consumers, according to a new report from The Conference Board.

Investors re-engage with major markets away from the coasts

Chicago’s retail investment market held steady in 2025, posting $3.2 billion in completed transactions, in line with the $3.1 billion recorded the prior year.

Today's News

Elgin is revitalizing 61–65 S. Grove Ave. into 4 shops and 6 apartments. The $5.1M project preserves historic facades with TIF support. Approval set for Feb. 25.

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U.S. construction project backlogs declined to a four-year low in January, signaling continued softness in demand across several property sectors, according to new data from the Associated Builders and Contractors (ABC).

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Hiring in the U.S. construction industry continues to hover near 20-year lows, as slowdowns across several project categories weigh on labor demand, according to a recent analysis of federal data by the Associated Builders and Contractors.

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The Illinois Department of Employment Security finally released monthly employment numbers for Illinois municipalities, counties, and metropolitan districts for the remainder of 2025 through December.

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The Elgin Development Group tracks various bits of local data and uses this information to understand the local economic landscape.

EDG News

Today, Governor JB Pritzker, the Illinois Department of Commerce and Economic Opportunity (DCEO), and the Illinois Economic Development Corporation (Illinois EDC) announced that Site Selection Magazine has named Illinois #2 for corporate expansion and relocations for the fourth year in a row,

Grant Opportunities

The Illinois Department of Commerce and Economic Opportunity (DCEO) is pleased to invite you to an informational webinar on the Opportunity Zone 2.0 program, scheduled for 3:00 PM on March 19. This session is designed for economic development organizations, local governments, regional planning agencies, chambers of commerce, and other professionals engaged in community and economic development across Illinois.

today's news

The Elgin Development Group monitors vacancy rates in the City of Elgin and throughout the county. Vacancy rates reflect changes over time in the local economy giving us information about different market conditions and segments. We also identify businesses that are expanding, investing, moving and creating jobs to thank expanding businesses for their investment. There are 11 different commercial property types that includes things such as retail, industrial, office, hospitality, health care and others.

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CoStar, a leading real estate data base, provides some interesting facts on properties and markets from Elgin to Naperville, and New York City to Tokyo.

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Office attendance across 10 major U.S. markets declined in late February, retreating from recent post-pandemic highs, according to the latest report from Kastle Systems.

build-to-suit project is a significant addition

Opus has officially broken ground on a new, specialized 52,174-square-foot facility for family-owned Elgin Recycling in Gilberts, Illinois. This build-to-suit project is a significant addition to the Turnberry Lakes Business Park, strategically placing it near Elgin Recycling's corporate headquarters and one of its four existing Chicago-area scrap yards.

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U.S. restaurants posted modest performance gains in January, according to the latest data from the National Restaurant Association, though many operators continue to face ongoing business challenges.

EDG News

U.S. retail and food service sales remained relatively stable in the early weeks of 2026 despite growing consumer uncertainty.

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U.S. consumer inflation slowed to an annual rate of 2.4% in January, down from 2.7% in December. However, shelter costs — which include rents and housing-related expenses — continued to play a major role in keeping overall price pressures elevated by historical standards.

EDG News

U.S. inflation held steady in February, with consumer prices rising at an annual rate of 2.4%, unchanged from the previous month. However, new data released Wednesday by the Labor Department showed that certain categories continue to experience faster price increases.

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U.S. economic growth is poised for a rebound in 2026 after underperforming expectations in the final quarter of 2025, according to forecasts from Oxford Economics.

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U.S. manufacturing activity expanded in January, marking its first monthly increase after 26 consecutive months of contraction, according to the Institute for Supply Management (ISM). The rebound was driven by rising new orders and a faster pace of production, though employment continued to contract and prices remained elevated.

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U.S. population growth slowed sharply in 2025, rising by approximately 1.7 million people for an annual growth rate of 0.5%, according to the latest estimates from the Census Bureau. The pace was roughly half the 1% growth rate recorded in 2024 and marked the slowest annual increase since 2021.

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People love their cars and often have an emotional, psychological and physical connection to that hunk of metal.