News

Return of Leisure Travelers Boosts Chicago's Lodging Market

By Anne Purcell CoStar Analytics Chicago hotels saw steady improvement in the third quarter, thanks to leisure travelers who returned to the region for weddings, concerts, sporting events and long delayed vacations.  Nearly 400,000 concertgoers descended on the city for Lollapalooza in July, giving the region its best weekend performance in more than 18 months. Though weekend occupancy averaged 78% for the past three months, and average daily rates ticked up past $150, the lack of business travel and

Sam Zell Says Normal Office Usage Will Return in a Couple of Years, but Sector Still Faces 'Massive

By Tony Wilbert CoStar News Real estate magnate Sam Zell said he expects normal office usage to return within a couple of years as companies realize the importance of in-person interaction at work, but he warned that the sector is facing an incredibly large oversupply of space.  While the pandemic required a temporary switch to having employees work from home when the global health crisis emerged, companies that have decided to allow employees to work remotely for long periods will suffer in the long run,

J.C. Penney Portfolio, Symbolizing Department Store Struggles, Down to a Dozen Outlets Left to Sell

One of the J.C. Penney retail portfolio properties that still needs a buyer is located at the Stoneridge Shopping Cener in Pleasanton, California. (CoStar) By Linda Moss CoStar News  A dozen J.C. Penney stores remain up for grabs, with deals pending or buyers lined up for another 18 brick-and-mortar locations, all marketed for sale after a retail bankruptcy process that's come to symbolize the struggle of some traditional American department stores.  Newmark, the exclusive broker handling the

LA Port To Operate Around the Clock, Inflation Rises Further, Hotel Occupancy Up

By Richard Lawson CoStar News  LA Port To Operate 24/7  Los Angeles and Long Beach ports officials agreed in a meeting with the Biden administration to operate around the clock in an effort to ease congestion that has caused major delays in the supply chain. The meeting Wednesday included port officials, labor leaders and executives from UPS, Target, Walmart, Home Depot, FedEx and Samsung. The Port of Long Beach had already expanded operations but still faces challenges with increasing the cargo

ICSC Sees Holiday Retail Spending Rising Nearly 9% This Year

ICSC projects the average U.S. shopper is planning to spend $637 on gifts and other holiday-related items this year, an 8.9% increase over 2020. (Getty Images) By Linda Moss CoStar News  A major trade group for the U.S. retail real estate industry is projecting a roughly 9% rise in holiday spending this year as shoppers return to brick-and-mortar stores and buy gifts earlier, a development that would support retail property values in the pandemic.  ICSC released on Tuesday the results of its

US Population Data Shows Cities, and Workers, Will Come Back From COVID-19, Economist Says

By Ryan Ori   Throughout the history of the United States, even during war, economic depression and a past pandemic, more people keep moving to urban areas. So based on that data, in coming years, cities will grow, workers will return to the office and many real estate trends brought on by COVID-19 will fade sooner than expected.  Those were among the predictions a prominent economist shared Tuesday in Chicago during Urban Land Institute’s fall meeting at the McCormick Place convention center. “What

Cities With the Best and Worst Unemployment Recovery

Out of the 150 Most Populous US Cities, 91 Have an Unemployment Rate Lower Than the National RateBy Rohit Diwadkar CoStar News  At the start of the pandemic, the unemployment rate increased exponentially across the United States. But the national job market is showing signs of recovering, thanks to the rollout of vaccinations and other mandates.  According to U.S. Bureau of Labor Statistics, the national unemployment rate today is 4.8%, which is down from the peak of 14.8% during the pandemic. Job

Celebrating Member Milestones

We appreciate the support from our members that allows for EAC to continue to advocate for the Elgin and South Elgin business community. Thank you!Over 50 YearsSchool District U-46Ziegler's Ace HardwareCap & Seal LPBiggers Chevrolet50 -25 YEARSAMITA Health Saint Joseph Hospital ElginBiggers Mitsubishi24 -10 YEARSColumbia College of MO, Elgin, Crystal Lake, Lake County, FreeportCorbella ClinicOld Second National BankLawrence Lenard & Company LLCParadigm Performance CenterTighe, Kress & Orr, P.C.Mark Your

Latest Jobs Report Falls Short, Global Minimum Tax

By Richard LawsonCoStar News   Latest Jobs Report Falls ShortA government jobs report for September fell far short of expectations that had been raised two days earlier when payroll company ADP reported better than expected growth in private sector payrolls. The Labor Department reported Friday that job growth fell to its slowest pace this year with 194,000 new jobs, down from August’s 366,000, which was revised upward significantly by 131,000. Economists had projected 500,000. The unemployment rate

Apartment Rent Payments Slow as Pandemic Wears On

Rent payments decreased slightly in early October compared to the past two years, according to the National Multifamily Housing Council’s latest survey. (Getty Images) By Cara Smith-Tenta CoStar News  As the pandemic wears on, apartment renters are still showing signs of financial stress when it comes to paying their rent on time, with fewer making those payments this month than even a year ago before the roll out of vaccines.  The latest apartment rent payment data from the leading multifamily

Celebrating Manufacturing Month

October is Manufacturing Month which celebrates and brings awareness of manufacturing to students, parents, people thinking about careers in manufacturing, the public, and educators. “Elgin has traditionally been a center for manufacturing making everything from street sweepers to ball bearings,” says Carol Gieske, Elgin Area Chamber President. “The manufacturing sector in Elgin is one of the largest sectors of the economy and employs thousands of people in positions that require critical thinking skills,

Elgin Police Department releases video to highlight its response to mental health crises

   Elgin Police Department releases video to highlight its response to mental health crises           Elgin, IL - The Elgin Police Department (EPD) has released a video to help educate the community on how its Collaborative Crisis Services Unit (CCSU), Crisis Negotiations Unit (CNU) and Emergency Services Detail (ESD) work together to respond to mental health related calls for service.   The collaborative

Connect Illinois Broadband

    In an effort to identify gaps, guide investment and tailor broadband planning to boost access to high-speed internet services, today Governor Pritzker and the DCEO Office of Broadband announced a new interactive Connect Illinois Broadband Mapping and creation of the Illinois Broadband Lab. Through a collaborative effort including universities and key stakeholders, the new mapping tool combines data from local broadband providers, Illinois households, and field testing of available bandwidth. In

With ‘Revenge’ Buying, Shoppers To Boost Holiday Spending 25%

Consumers plan to spend an average of $870 more per person over last year on all holiday-related purchases, according to a new JLL survey. (Getty Images) By Linda Moss CoStar News Shoppers will be making up for the spending they missed out on during the pandemic by jacking up their holiday-gift budgets about 25%, according to an estimate by real estate firm JLL that holds promise for retail property owners.  “Revenge shopping, the phenomenon where consumers make up for lost time with increased

Global GDP Reflects China’s Real Estate Woes, Leisure and Hospitality Leads Job Growth, Hotel Occupa

China Evergrande Group's debt troubles contributed to Fitch Ratings lowering its global GDP forecast for the year. (Getty Images) By Richard Lawson CoStar News  Global GDP Reflects China’s Real Estate WoesFitch Ratings lowered its forecast for global economic growth this year partly because of the debt trouble with China Evergrande Group, one of the country’s largest real estate developers. In its October overview of the credit environment, the debt-rating firm said global gross domestic product

Museum of Ice Cream Plans Permanent Chicago Flagship

The Museum of Ice Cream’s space in Chicago’s Tribune Tower will include a photo-friendly “sprinkle pool.” (Museum of Ice Cream) By Ryan Ori The Museum of Ice Cream is planning a flagship in Chicago’s Tribune Tower, setting the stage for an expected wave of so-called experiential retail leases on the Magnificent Mile, the city’s main shopping strip. The 5-year-old enterprise announced on Wednesday a 13,544-square-foot lease on the ground floor of the Chicago landmark at 435 N. Michigan Ave.  Though the

US Multifamily Building Permits Jump More Than 32% This Year

By Rohit Diwadkar CoStar News The number of permits issued for multifamily buildings across the United States in August rose to 57,207 units, the highest figure reported since June 2015 and up 20 percent from July. On a year-to-date basis through August, the number of multifamily permits issued nationally climbed 32.6% to 739,156 this year from the first eight months of 2020.  Multifamily permits increased in all four regions of the country in 2021, based on year-to-date figures through August. The West

Small Business Hiring Ticks Up, Home Prices Hit Another Record, Retail Foot Traffic Slows

Small businesses in leisure and hospitality have had to increase wages to attract employees. (Getty Images)   By Richard Lawson CoStar News  Small Business Hiring Ticks UpSmall business hiring edged up in September, but owners are having to pay more to do it, according to a monthly report from a payroll company. Paychex’s index, prepared with data analytics company IHS Markit, rose to 99.95 in September from 99.8. Texas took the top spot for growth with an index reading of 102.9. If the index hits

The Quarter Ends on a Downbeat

The Quarter Ends on a Downbeat It was a roller coaster of a week in Congress.Political posturing led to a showdown among parties on the need to extend government funding, which was due to expire at midnight on Sept. 30.  A continuing resolution to restore funding through early December reached President Biden’s desk for signature mere hours before deadline, averting a government shutdown. While lawmakers were able to manage that temporary fix, a larger disagreement remains on raising the government’s

Demand for Electric F-150s Grows, Office Use Plateaus, 'Star Trek' Actor Heads to Edge of Space

Demand for Electric F-150s GrowsFord Motor Co. said reservations for its electric F-150 Lightning pickup have surpassed 150,000, less than a week after announcing it would be investing $11.4 billion in auto and manufacturing plants in Kentucky and Tennessee. The Detroit automaker's September sales report showed electric vehicles sales have attracted customers to the brand from rivals at a rate higher than Ford overall, at a “rate that is 6 points above.” Ford said September electric vehicle sales marked

Little Park of Horrors at Wing Park Tickets on Sale Now - No Cash Entry

    Little Park of HorrorsAdvanced ticket purchase required - no cash entry  Thursdays-Sundays,October 21-24 + 28-316:00-9:00 p.m.Wing Park, 1010 Wing Street, Elgin, IL 60123  Elgin, IL - The City of Elgin will host the second Little Park of Horrors from 6:00 p.m. to 9:00 p.m., Thursdays to Sundays, October 21 to 24 and 28 to 31, at the historic Wing Park, located at 1010 Wing Street in Elgin. Little Park of Horrors is a ticketed event this year, and tickets must be

Apartment Industry’s Supply-Chain Woes Worsen, With Delays Hitting Nationally

A construction materials shortage caused by the COVID-19 pandemic has plagued the U.S. commercial real estate industry. (iStock)   By Cara Smith-Tenta CoStar News   To understand how dire the construction materials shortage has become for the commercial real estate industry, consider the difficulties Joe Pecoraro at Skender, a Chicago-based contractor, faces on a multifamily rehab project.  In the first week of August, Pecoraro and his team ordered cabinets for the apartments. Shipping usually takes

Factory Activity Growth Strengthens, All PwC Employees Can Work Remotely, Southeast Ports Expanding

Factory activity increased in September for the second consecutive month. (Getty Images) By Richard Lawson CoStar News Factory Activity Growth Strengthens U.S. factory activity picked up in September even as manufacturers struggle with supply chain problems. The Institute of Supply Management’s monthly index registered a reading of 61.1% in September, a 1.2 percentage increase from August. The wood products sector was the only one to show slower growth among the 18 industry sectors the institute

Construction Traffic Alerts - Longcommon Parkway and Big Timber Road

October 3, 2021 View this email in your browser  UPCOMING TRAFFIC ALERTSThe City of Elgin, Union Pacific Railroad and Metra all have upcoming construction projects that will present major impacts to high traffic routes in or nearby Elgin. Please read carefully, and plan ahead to find alternative routes and avoid delays in the coming weeks.City of Elgin's temporary closure of southbound Longcommon Parkway from Weld to Cranston Southbound Longcommon Parkway will be closed Tuesday, October 5

Gilmore Marketing Concepts, Inc. Certified by the Women’s Business Enterprise National Council

Gilmore Marketing Concepts, Inc. Certified by the Women’s Business Enterprise National Council  Gilmore Marketing Concepts, Inc., a business specializing in Advertising and Marketing, is proud to announce national certification as a Women’s Business Enterprise by the Women's Business Development Center - Midwest Certification Committee, a regional certifying partner of the Women’s Business Enterprise National Council (WBENC).   “I have been a woman in business for 30 years, it was past time to be

Explore 2021 to Showcase Curriculum to Career Pathways

Explore 2021 to Showcase Curriculum to Career Pathways U-46, Alignment Collaborative for Education offer virtual event for 8th graders  ELGIN - More than 2,500 8th graders and teachers in School District U-46 will participate on Thursday, Oct. 7 in a virtual version of Explore 2021. Explore is the District’s annual expo designed to expose students to various careers and demonstrate the connection between academic curriculum and future careers.    Traditionally, Explore was held inside a large sports

Three of the nation’s largest industrial projects built in 2021 so far are in the Chicago area

The 10 Biggest Industrial Sales of the Year, So Far

 START SLIDESHOW › A new report from CommercialEdge shows buyers are eager to purchase industrial properties, even at top prices. It’s no secret that the U.S. industrial sector remains red-hot, especially as the disruptions stemming from the COVID-19 pandemic and recent adverse weather events across the country make the existing industrial facilities even more critical to the nation’s supply chain. As a result, buyers continue to be willing to pay top dollar for whatever industrial product comes on the

Bed Bath & Beyond’s Supply Chain and Delta Variant Woes Signal Tough Holiday Season for Retail

Bed Bath & Beyond reopened its New York flagship store with a new look to lure customers. (Bed Bath & Beyond)   By Linda Moss CoStar News  Bed Bath & Beyond's significant cut to its financial outlook for the year highlights an industry struggle with the coronavirus delta variant and supply-chain disruptions as the holiday-shopping season approaches.President and CEO Mark Tritton said on a fiscal second-quarter earnings call with Wall Street analysts that there was a sharp, unexpected deceleration in

US Trade and Development Agency

Agency News          Press ReleasesUSTDA Advances Sustainable Public Transit in EcuadorUSTDA Supports Smart Grid Deployment in BrazilUSTDA Supports Electric Vehicle Transition in ThailandUSTDA Supports Renewable Energy in PakistanUSTDA Supports Banking Modernization in Solomon IslandsUSTDA Supports Rural Internet Access in Southern AfricaProject Opportunities   Algeria: GRTE Distributed Control System Upgrade Technical AssistanceMexico: Airspace Technologies Master PlanBrazil:

Trade Mission

             Colombia is becoming one of Latin America’s most attractive destinations for international exporters and investors. With the fourth largest economy in Latin America, Colombia has seen steady economic growth in recent years. Illinois exports to Colombia totaled $520 million in 2018, a 91.6% increase since 2009, and Colombia is Illinois' 22nd largest export market. The Colombian economy has a rapidly growing base of middle-class consumers as well as diversifying

Elgin Community Task Force on Policing to hold first meeting

  For immediate release, September 28, 2021Elgin Community Task Force on Policing to hold first meeting             Elgin, IL - The City of Elgin's newly created Community Task Force on Policing will hold its first meeting on Thursday, September 30 at 6:00 p.m. The meeting will be conducted virtually with a live stream available on the City of Elgin's YouTube Channel: youtube.com/cityofelgin. The Council Chambers

Gov. Pritzker Announces First $24 Million in Back to Business Grants to Support Small Businesses

State Urges Small Businesses to Apply for $226 Million in Remaining Funds Before October 13 Deadline CHICAGO – Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) today announced the first grants have been awarded through the Back to Business (B2B) recovery program. To help businesses facing acute operational impacts due to COVID-19, 521 grants totaling more than $24 million have been provided to small businesses in 146 cities across the state. The first wave of

Volatile Stock Market Drops, Consumer Confidence Falls, Small Businesses Becoming Cautious

U.S. stock markets fell Tuesday as the 10-year Treasury yield rose to a three-month high. (Getty Images) By Richard Lawson CoStar News  Volatile Stock Market Drops  The wild September stock market dropped on Tuesday. Investors took to heart the Federal Reserve’s words that it plans to rein in the bond buying it used to stimulate the economy last year and sent the 10-year Treasury yield to its highest point in three months. “The market’s been steadily coming around to the reality that yields were

Tesla Service Center Sale in Chicago Underscores the Way Electric Vehicles Boost Property Values

The Tesla service center at 3059-3067 N. Elston Ave. in Chicago sold for $13.1 million. (Cushman & Wakefield) By Ryan Ori  Growth in the electric vehicle industry is charging up commercial real estate demand. The latest example comes from Chicago, where a Tesla service center on the North Side has sold for more than $13 million.Exan Capital paid $13.1 million for the property at 3059-3067 N. Elston Ave., according to a statement Tuesday from the buyer and Cushman & Wakefield, which brokered the

The US Hispanic and Latino Population, in Four Charts

  By Rohit Diwadkar CoStar News  Sept. 15 through Oct. 15 is Hispanic Heritage Month in the United States, so let's take a look at one of the fastest-growing demographic groups over the past decade.  Hispanics and Latinos have been a major part of U.S. population growth during the past 10 years, representing the second-fastest-growing group in the country. In 2020, 1 in 5 people in the U.S. identified themselves as Hispanic or Latino. Also, the number of Hispanics and Latinos who consider themselves

The Housing Market's Evolving Storyline

     The Housing Market's Evolving StorylineThe housing market during the pandemic has been a story of strong demand facing weak supply, resulting in outsize price increases. That storyline might be starting to change somewhat, but the markets for both new and existing homes have not quite returned to pre-pandemic conditions, as revealed in data released last week.Demand for both new and existing homes during the pandemic was boosted by the desire for more space — often

Orthopedic Physicians Earn Top Doctor Distinction

Seven orthopedic surgeons from Fox Valley Orthopedics have earned the Castle Connolly Top Doctors distinction in an unprecedented number from one practice. This year’s doctors, as published in Chicago Magazine, September 2021, include Joshua Alpert, MD, Eric Bartel, MD, Vishal Mehta, MD, Jasper Petrucci, MD, Timothy Petsche, MD, James Sostak, MD, and Craig Torosian, MD.Physicians nominated for the Top Doctors distinction must first go through a physician-led review process to determine if they meet Castle

Property Price Growth Returns to Pre-Pandemic Levels

The number of repeat commercial property sales hit a record high in August, according to data compiled by CoStar Group. (Getty Images) By Mark Heschmeyer CoStar News  Commercial real estate prices have advanced by more than 14% so far in 2021, placing them back on their long-term, pre-pandemic path, according to the latest monthly CoStar Commercial Repeat-Sale Indices. CoStar’s repeat-sales indices are broken down into value-weighted segments, which reflect big sales often found in the largest

Evictions Loom for Millions of Tenants and Slow Rental Aid Disbursement Isn't Helping

Joaquin Corbalan/iStock/Getty ImagesPROPERTY TYPES>MULTIFAMILYEvictions Loom for Millions of Tenants and Slow Rental Aid Disbursement Isn't HelpingWhile the federal government has set aside billions to help renters and landlords, the disbursement process continues to lag behind. Bendix Anderson  While the strain on the U.S. economy from the coronavirus pandemic has been easing, with vaccination allowing many of the worst affected businesses like restaurants and hotels to return to operating at full

Girl Scout Entrepreneurs Begin In-Person Sales & Continue Online Ventures as Small Business Owners

   Many future business owners take their first steps toward becoming successful entrepreneurs—both online and in-person—through the Girl Scout Fall Product Program.  Northern Illinois – On October 4, local Girl Scout entrepreneurs will begin in-person sales offering gourmet nuts, candies, and magazines to Girl Scout supporters through the Girl Scouts of Northern Illinois’ Fall Products Program. The delicious 2021 lineup includes fan favorites like Mint Treasures and introduces new ones like Caramel

Community Crisis Center names new executive director

The board of directors for the Community Crisis Center of Elgin recently announced the selection of Maureen Manning as its new executive director, effective immediately. “I am honored to have the opportunity to lead the Community Crisis Center. The center provides critical services to those impacted by crises, and I look forward to working with my team of professionals to meet the needs in our community,” Manning said. Manning, a resident of Elgin, has been with the center since 1977. Prior to her

Celebrating Member Milestones

We appreciate the support from our members that allows for EAC to continue to advocate for the Elgin and South Elgin business community. Thank you! Over 50 YearsChurch of the Brethren  25 - 50 YEARSPorte Brown LLCA1 Trophies & Awards, Inc.  10 - 24 YEARSCentro de InformacionSchleifring Medical Systems, LLCInterstate Partners, LLC - Mark EbacherSERVPRO Elgin/Northwest Kane CountyTower Hill Healthcare CenterBucher Hydraulics, Inc.Image360Pace Suburban BusFood For Greater Elgin  5 - 9

Manufacturing Day

Manufacturing Webinar Series Starts Next Week - Free Registration! Insights from exporting and manufacturing experts each Thursday from September 30 to October 28. SEP 30 - Manufacturing Day Celebration - manufacturers share how they effectively tapped Federal Government export assistance to achieve global market success.  OCT 7 - Early-stage Manufacturers - hear about federal resources available to support the idea phase, commercialization, and global growth journey of early-stage

Governor Pritzker Announces $327 Million in Household Assistance Available for Low-Income Families

    Governor Pritzker Announces $327 Million in Household Assistance Available for Low-Income Families        In a move to support Illinois’ most vulnerable families from falling behind, this week, Governor Pritzker and the Illinois the Illinois Department of Commerce and Economic Opportunity (DCEO) joined community partners to announce $327 million in Help Illinois Families assistance through the

Ready To Return? Most Workers Say OK.

  Data based on poll of 1,124 U.S. workers fielded in August 2021. By Rohit Diwadkar CoStar News  More than a year into the pandemic, a majority of workers say they are ready to return to the office.The acceptance comes as many employers are still wrestling with work policies. The spread of the delta variant of the coronavirus has led some to delay return-to-office plans, while others have adopted hybrid arrangements or are moving to require workers to be vaccinated or show proof of negative

Existing Home Sales Fall, Brick-and-Mortar Foot Traffic Rises

Existing home sales fell in August after two months of increases. (Getty Images) By Richard Lawson CoStar News  Existing Home Sales Fall  Existing homes sales declined in August after rising during the previous months. The National Association of Realtors reported this week that sales fell 2% while the median sales price increased 14.9% over last year. All four regions of the country saw month-to-month declines in sales as well as year over year. "Although there was a decline in home purchases,

Export to China

    Export to China Week: November 8 – 12, 2021    Dear Illinois Exporters,   In November 2021 the Illinois Office of Trade and Investment (OTI) will organize Export to China week to help Illinois exporters do business in this important market.   The purpose is to continue to assist Illinois-based exporters to sell products and services to the Chinese market. In spite of the challenges of the worldwide pandemic, Illinois exports continue to grow. The OTI strives to

Cracker Barrel Retail Sales Rise, Construction Pace Increases, Stock Market Flat After Drop

  Cracker Barrel's retail sales in its latest quarter increased over 2019 while dining revenue trailed. (CoStar) By Richard Lawson CoStar News Cracker Barrel Retail Sales Rise  Cracker Barrel dining rooms didn’t deliver quite what upper management expected in its latest quarter. But the retail side of the Lebanon, Tennessee-based company’s roadside restaurants far exceeded expectations. The chain reported $784.4 million in revenue for the quarter that ended July 31, which is relatively flat

Resilient Consumers Keep Spending

Resilient Consumers Keep Spending Rising COVID cases stemming from the virulent delta variant have driven governments and businesses to reimpose social distancing measures and delay return-to-office policies, putting a damper on some economic activity. But consumers continue to power through the end of the summer. Retail and food services sales unexpectedly grew by 0.7% in August, following a downwardly revised 1.8% fall in July. The month-over-month changes to the headline figure this year

Construction Jobs Boom in Many US States and Cities

  By Rohit Diwadkar CoStar News  Prior to the pandemic, there was a surge in the number of people working in construction jobs in recent years, often outpacing the growth in employment overall in many states.  While employment likely fell at the onset of the coronavirus, there remain many more openings than people to fill them today. Indeed, the construction industry faces a shortfall of 200,000 workers, according to a report released in April by the Home Builders Institute. Here's a look at which

Spooky Clean Halloween Fun at Brittain's Car Wash ''Tunnel of Terror''

Spooky Clean Halloween Fun at Brittain's Car Wash "Tunnel of Terror"   Have you always loved Halloween and haunted houses, is your car frighteningly dirty? A car wash in Elgin has found a socially distanced, fear-free way to enjoy Halloween hauntings. Visit Brittain’s Tunnel of Terror car wash. From 6 to 10 pm October 22nd and 23rd and October 29th and 30th. Brittain’s Car Wash will be taken over by an evil circus of creepy clowns, lost souls, goblins, spirits, and mass murder types for local Halloween

Consumer Sentiment Edges Higher

Consumer sentiment edged up in September after a big fall in August. (Getty Images) By Richard Lawson CoStar News  Consumer Sentiment Edges Higher Consumer sentiment ticked up in September after a sharp decline in August, according to a much-watched economic indicator. The University of Michigan’s consumer sentiment index, which has been produced since 1952 based on surveys, rose to a 71 reading in September from 70.3 in August. August’s reading was a sharp decline from July’s 81.2. Richard

Commerce Update

    Governor Pritzker Joins Boeing to Announce $200 Million Investment to Launch Production of New U.S. Navy Aircraft in Metro East        Landing the state’s latest aviation win, today Governor JB Pritzker joined Boeing to announce the company’s new $200 million state-of-the-art facility which is set to bring up to 300 jobs to the region in the years ahead.   This high-tech facility will house production of the MQ-25 Stingray, the U.S. Navy’s first carrier-based unmanned

Disasters and your taxes: What you need to know

Disasters and your taxes: What you need to know  Homeowners and businesses across the country have experienced weather-related disasters in recent months. From hurricanes, tornadoes and other severe storms to the wildfires again raging in the West, natural disasters have led to significant losses for a wide swath of taxpayers. If you’re among them, you may qualify for a federal income tax deduction, as well as other relief from the IRS.  Eligibility for the casualty loss

International Trade Opportunities

Business Opportunities in Central America Webinar SeriesDoing Business in Costa RicaDoing Business in El SalvadorDoing Business in HondurasDoing Business in GuatemalaDoing Business in BelizeDoing Business in Nicaragua Trade Mission to Central America and Business Conference The U.S. Commercial Service has organized a Central America webinar series focused on highlighting business opportunities and key projects in the region's best prospect sectors including agriculture, food processing and packaging

Retail Sales Climb, SpaceX Launches

By Richard Lawson CoStar News Retail Sales Climb Retail sales rose in August, surprising experts who had projected a drop given the surging delta coronavirus variant. The Commerce Department reported that sales increased by 0.7% from July’s revised decline of 1.8%, which was worse than the 1.1% originally reported. Wall Street expected sales to decline by 0.8% in August. General merchandise stores, furniture and home furnishings were the biggest gainers on the brick-and-mortar side. But the internet

Beacon Academy of Media & Digital Arts Receives National Certification

The Beacon Academy of Media & Digital Arts, one of School District U-46’s five specialized high school academies, has been recognized as a nationally certified magnet school for providing high-quality, innovative educational options to families and students that promote choice, diversity and academic excellence.    The certification comes as U-46 continues to strengthen its high school programming to ensure every student is prepared to succeed in college and careers. The District is investing in facility

Well Child Center Names Michelle Esquivel Executive Director

WELL CHILD CENTER OF ELGIN NAMES MICHELLE ESQUIVEL EXECUTIVE DIRECTOR  The Board of Directors for the Well Child Center of Elgin announced Michelle Zajac Esquivel has been named Executive Director for this nonprofit dedicated to improving the lives of children and families through education, counseling, and services in the areas of childhood nutrition and pediatric dental health.  “I am honored to have the opportunity to lead the Well Child Center. The Center is a critical resource for our community, and

More Tweaks to the IL Equal Pay Act

March 2021 Amendments (Recap)   As outlined in our March 23, 2021 blog article, Will Employers Have to Give 1% of their Total Gross Profits to the State of Illinois? Gov. Pritzker Signs into Law Unprecedented Changes to IL Equal Pay and Corporate Laws, the March amendments to the Act require businesses with 100 or more employees to obtain certification of compliance with the Equal Pay Act from the IL Department of Labor (IDOL).   The certification process requires employers to submit an application that

Seeing blue: New EV charging station signs to appear soon along Illinois interstates

Seeing blue: New EV charging station signs to appear soon along Illinois interstates Seven corridors will have the signs directing travelers to alternative fuel locations SPRINGFIELD – The Illinois Department of Transportation announced today that new signs will start appearing along interstate corridors, guiding motorists to charging stations for electric vehicles. The signs are part of a national effort to promote alternative fuels that will also spark economic activity in Illinois communities and