Downers Grove Economic Development

“The form 990 is subject to staff review, president review, and review by the executive committee of the board of directors.”

“The written conflict of interest policy is reviewed by the board of directords on annual basis and compliance issues are immediately addressed by the board of directors. The executive committee of the board of directors monitors the policy on a quarterly basis.”

“The compensation of the president is determined by the chairman of the board with input from the finance committee and the approvsal of the board of directors. A performance matrix algined with the organization's goals and objectives is used to evaluate the president's performance. All other employee compensation is determined by the president with the review and approval of the executive committee of the board of directors.”

“The organization's governing documents, written conflict of interest policy and financial statements are available to the public upon written request.”

“2024 program service accomplishments activities of the dgedc include business attraction (facilitating new business to open in the village), business retention (working with existing businesses to ensure satisfaction), visitors attraction (promoting downers grove as a destination for visitors), and marketing (creation of materials, websites, etc., participation in trade shows, and advertising). Following are highlights of the may program service accomplishments of the dgedc during 2024: the dgedc advertised in many state and regional publications, including the state of illinois economic development guide and the dupage travel guide. The dgedc completed it's 'community navigator' partnership with the state of illinois. This partnership provided additional funding to expand the organization's retention and expansion programming to local downers grove and dupage county businesses. Staff completed over 400 business visits as a part of our participation in the program. The dgedc completed its sixth year in the tourism partnership with the dupage convention and visitors bureau. The dgedc hosted its annual luncheon in september to promote downers grove as a great partner to the business and development communities. The dgedc also recognized five outstanding projects from the previous year with the cornerstone award at the event. The dgedc hosted two brokers golf outings in april and may to promote downers grove as a great partner to the broker and development communities.”

“2024 program service accomplishments activities of the downers grove economic development corporation include business attraction (facilitating new business to open in the village), business retention (working with existing businesses to ensure satisfaction), visitors attraction (promoting downers grove as a destination for visitors), and marketing (creation of materials, websites, etc., participation in trade shows, and advertising). The following are highlights of the many program service accomplishments of the dgedc during 2024: ati physical therapy completed the buildout of their new corporate headquarters at 2001 butterfield road. Bales metals surface solutions at 2824 hitchcock avenue completed the expansion of their existing building with new plating equipment. Bubbly side of life at 5131 main street completed the buildout of their new retail champagne and wine tasting store in the downtown. Buffalo wild wings go completed their quick service restaurant build-out at 945 ogden avenue. Chemring energetic devices completed a major renovation of their new manufacturing facility at 2525 curtiss street. Chemring now fully occupies the 100,000 sf facility. Eleven26 continued construction of their new restaurant space at 5126 main street in the downtown. The restaurant is looking forward to a grand opening in 2025. Cna completed the build-out of their corporate office expansion at 3333 finley road. Entourage completed the build-out of their new restaurant at 5101 main street. Escapology downers grove opened for business at 1250 75th street. Escapology is an escape room / entertainment venue. Everest asian fusion began build-out of their new restaurant 1550 75th street. Hime cha boba tea completed the build-out of their new juice and tea shop at 436 75th street. Castle cars genesis of downers grove continued construction of their new dealership at cross and odgen avenue in october. Construction is to be completed in 2025. Goldfinger brewing company completed construction on a major expansion of their brewing facility at 513 rogers street including an expanded brewhouse. Lytle house completed construction in 2024 at 4919 belmont road which houses a new photography studio and special event space. Federal signal completed signed a lease and completed the build-out of their new corporate offices at 1333 butterfield road. Home goods and marshalls began renovating their new retail spaces at 1548 butterfield road in the finley square shopping center. Both retailers are scheduled to open in late 2025. Mcallister's deli opened for business in february after completing their restaurant build-out at 933 ogden avenue. The downers grove park district completed construction at mccollum park for new spray pads, new tennis and pickleball courts, reconstruction of pathways, new shelters and storm sewer improvements. Meadowbrook shopping center continued working through the tif creation process with the village for the rehabilitation of the center. Tif creation and re-development plan to be adopted in 2025. Midwestern university continued construction on their newest building at 555 31st street. This new 122,000 sf building will include administrative offices, classrooms and state-of-the-art lab spaces. Construction is scheduled for completion in 2025. Oak trace completed construction of a major expansion of their community at 270 village drive. Construction will include a two new 5-story apartment building and parking complex. Roasted elements at 4955 fairview avenue began the build-out of their coffee shop and roastery. Skyway health completed the build-out of their new corporate offices at 2001 butterfield road in the esplanade lakes office park. Vintage charm completed the build-out of their seventh retail location at 5114 main street in the downtown. Woodcraft relocated from woodridge to 504 ogden avenue. Woodcraft is a specialty woodworking and tool retail store.”

“The agency has historically used the modified cash basis method, return has been updated to reflect this.”