St. Charles is a prosperous community where residents value their family oriented lifestyles, the excellence of the schools, and a long history of quality economic development. Residents enjoy the convenience of nearby shopping, employment and the incredible recreational/entertainment amenity of the beautiful Fox River.
Successful economic development in “complete” communities connects homes, jobs, shopping, recreation and entertainment. St. Charles has a strong economic base, but also recognizes the need to build a strategy to move forward in an increasingly competitive environment. For this reason, the City has adopted a new Economic Development Plan, which will be used to build the economic vitality and potential for each area of the City. Additionally, the strategies and actions of the Economic Development Plan will enable St. Charles to realize the community’s municipal revenue potential.
As a highly desirable place to live, St. Charles has the potential to attract entrepreneurs who will live and work here. Strong local employment allows the community to exceed the national average of 1.5 jobs per household and offers many residents the opportunity to work in the community where they live. The Illinois Dept of Rev reports that St. Charles continues to collect substantially more sales tax than surrounding communities. Traditionally, communities seek to attract at least as much sales tax as their residents spend throughout the region, and St. Charles is attracting 233% of the sales tax revenues paid by its residents.
The Economic Development Plan places increased emphasis on supporting existing successful properties and encouraging redevelopment of “tired properties”. It explains why achieving redevelopment of under-performing properties often necessitates economic participation by the City, to overcome land values that are burdened with obsolete structures.
Downtown St. Charles is undergoing a transformation to conform to current, mixed-use trends.Throughout its history Downtown St. Charles has adjusted to shifts in the market. The City has initiated important economic development opportunities that have attracted the attention of residential and commercial developers seeking to offer properties that capitalize on Fox River views and access. Shoppers want the unique environment of a place like Downtown St. Charles when they dine out or seek to be entertained and the emerging role of downtown as an entertainment and dining cluster is very evident.
Future industrial development opportunities continue primarily on the east side of the community and relate to the maintenance and expansion of the existing business base plus new opportunities created by the DuPage Airport Authority development initiatives. In light of the airport’s development initiatives the City will determine if there are “supportive business” opportunities within the St. Charles Business Park.In addition, St. Charles will continue with its proactive business retention program, having already produced notable results.
Come live, work and play in the vibrant community of St. Charles.