Why Businesses Locate in Elgin

     The Elgin Development Group has helped many new and existing businesses find a suitable location. Every request is unique based upon the parameters and needs set out by the business. Why would any business choose Elgin when there are so many places that would welcome them? Although many businesses have their own site selection criteria some important factors might include demographics, workforce, taxes, traffic counts, accessibility, competition and the overall cost associated with the location. Elgin is attractive to many businesses because we have 24 commercial business parks and 9 retail corridors to choose from with a high level of diversity. 

      Elgin’s retail vacancy rate has held steady for a nearly a decade at around 3.5%, while the industrial vacancy rate has hovered around 5.0% for years due to a number of factors. Elgin vacancy rates are projected to stay historically low for at least the next five years. Projected 2025 to 2030 retail and professional services spending is set to increase in amounts greater than that of St. Charles, Geneva and Batavia combined in all categories on items like home repairs, entertainment, health, computer spending, childcare, personal care products, retirement plans, travel and much more. These are the ingredients that make Elgin attractive and why successful businesses locate in our wonderful community