Choose DuPage reports drop in major projects for 2024, cites interest-rate headwinds

Greg Bedelab of Choose DuPage presented the agency’s 2024 scorecard to the DuPage County Economic Development Committee on Jan. 21, reporting 74 qualifying projects in 2024 compared with 121 in 2023 and saying interest rates were the primary headwind.

The presentation, delivered to the committee by Greg Bedelab, summarized Choose DuPage’s 2024 performance, funding mix, and programs for business attraction and retention. "We finished 2024 with about 51% of that revenue coming from the private sector," Bedelab told the committee, noting the remainder came from a county grant.

The scorecard narrowed Choose DuPage’s qualifying-project criteria to private investment of $1,000,000 or more, at least 20,000 square feet of net new space, 20 or more full-time jobs, a headquarters facility or substantial Choose DuPage involvement. Bedelab said the 74 projects in 2024 equated to 307 jobs created or retained and about 2,400,000 square feet of development; by contrast, 2023 included roughly 10,000,000 square feet. "The first question that might go through your head is why the downturn? In a word or 2 words, interest rates," he said.

Bedelab described Choose DuPage’s revenue model as a public–private partnership and said roughly 55 businesses contribute financially to the organization. He told the committee that the group aims to grow and retain businesses, promote available commercial real estate and address local policy issues that affect the business community.

Regional cooperation was a focus. Bedelab reviewed results from the Greater Chicagoland Economic Partnership (GCEP), the regional alliance that shares leads among the city and collar counties. He said GCEP supplied 85 events, 36 requests for information and 52 leads in 2024; about 17 had immediate interest in DuPage and roughly six moved to DuPage County.

Choose DuPage highlighted several ongoing products and programs: - Municipal analytics (the "MAP" program), offered to municipalities for $5,000 a year, provides data such as household incomes and trade-area analysis to help towns identify missing retailers and target recruitment. Bedelab said the program has produced 45 municipal data requests in 2024 and that some municipalities use the tool to craft short- and long-term economic strategies. - A supplier portal branded Connect DuPage, which registers minority-, women- and veteran-owned businesses. Bedelab said the portal registered nearly 120 diverse suppliers in 2024, had about 1,600 website visits, 58 unique database views and 52 business inquiries. - Sustainable DuPage, funded in part by a $60,000 county allocation, which ran green-business assessments, developed a green-business checklist and published case studies; Bedelab said Choose DuPage conducted 18 green assessments and published 10 case studies in 2024.

On marketing, Bedelab reported about 44,000 website visits, roughly 1,500 podcast downloads and about 10,000 social media followers for Choose DuPage in 2024. He said available-properties pages were the most-viewed site content.

Committee members pressed for specifics about funding and local help. Member Childress asked whether Choose DuPage receives state or federal funds; Bedelab replied, "At this point, we do not receive funding from any organization or any entity other than DuPage County and our own our own internal budget." Member Rutledge and others asked about West Chicago and how municipalities can use the MAP program; Bedelab described the software’s ability to identify target businesses and provide contact information and encouraged municipalities to subscribe.

Votes at a glance 25-0130 — Approval of committee minutes from Nov. 19, 2024: motion and second were recorded; committee voice vote approved the minutes. Outcome: approved. 25-0131 — Incumbent worker training: Lake Cable LLC; motion to receive and place on file was made by Amber Hader and seconded; staff said no formal vote was required and the item was placed on file. Outcome: received and placed on file.

Bedelab concluded by urging board members to contact Choose DuPage staff for follow-up and district-level outreach. "Please reach out to Greg if you guys have additional questions," Chair Yoo told the committee before moving to other business.