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Choose DuPage reports drop in major projects for 2024, cites interest-rate headwinds
Summary
Choose DuPage told the DuPage County Economic Development Committee that qualifying projects fell to 74 in 2024 from 121 in 2023, citing higher interest rates; the agency highlighted regional partnerships, its municipal analytics product and supplier portal, and reported marketing and sustainability activity.
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…
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