In February, 2017, Mayor Craig Johnson gave the public a first glimpse of what the Village will be doing over the next eight years to reinvest in the community’s future. Since the Great Recession, Village elected officials have chosen to invest heavily to ensure the community thrives now and into the future. Over the past 10 years, the Village has invested in excess of $100 million in infrastructure and facility improvements throughout the community.
Today, the Village is reaping the benefits of those investments. Overall, the Village is experiencing a surge of business development activity. At the beginning of 2017, the industrial vacancy rate for Elk Grove Village stood at a mere 3.56%, down by over 65% from a high of 12.49% in 2010. Furthermore, private sector reinvestment soared over that same time frame. In 2016, the Village experienced nearly $145 million in private sector construction value – and has already experienced over $230 million in private sector construction value in the first few months of 2017.
With the celebration of our 60th Anniversary last year, the Village is starting to show signs of wear. While Elk Grove Village has done a commendable job re-purposing existing facilities and maintaining others, the studies of our operations have shown that additional operational efficiencies can still be realized with enhanced infrastructure and more modern facilities.
As such, the Mayor and Board of Trustees have established Elk Grove 2025 to meet Elk Grove Village’s needs today and well into our future. This long-range capital plan includes public facility improvements, road improvements, streetscaping, bicycle/pedestrian projects, and drainage projects.
We are excited to share with you our plans for the future of the community! In the newsletter below you will find information on projects planned as part of Elk Grove 2025, as well as information on how these projects will be funded and their impact on the average homeowner in the Village.
Updates and additional information on the Elk Grove 2025 Plan will be posted as they become available.