Schillerstrom's focus: economic development
DuPage County Board Chairman Bob Schillerstrom delivered his fourth annual "State of DuPage County" address in Naperville last week.
His comments addressed the county's proposed budget and significant developments since his previous keynote last September.
DuPage County is investing in efforts to improve the quality of life and economic vitality of the region, such as investing in the Eola Road interchange with I-88 that will provide congestion relief and incentivize economic development in that part of the county. The interchange is expected to open in the next two months.
The address focused on other economic development projects such as Navistar's relocation and consolidation to the vacant Lucent building in Lisle. The project in total is expected to bring and retain more than 2,000 jobs for the region, including substantial investments in the Lisle campus.
The proposed relocation "demonstrates that by working together with organizations like Choose DuPage, the private sector and our local community leaders, we can enhance our economic growth and have a positive impact on our economy," Schillerstrom said.
The address also focused on some of the challenges facing the county, including the liabilities associated with their pension obligations under the Illinois Municipal Retirement System.
"For DuPage County, IMRF plan assets dropped $68.5 million, or over 19 percent, and its funded liability dropped from 84 to 66 percent," Schillerstrom said.
Numerous other governmental entities are struggling with funding their pension obligations following last year's market crash.
