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Business in Yorkville
2008 Summaries
The United City of Yorkville's commercial, industrial and residential future is bright. If you are looking for a great location for a new business or residential development, Yorkville has all the key ingredients--an excellent location, employment opportunities and increasing population.
Since the beginning of the new century, the city of Yorkville has received national attention for its record growth in population and household counts. According to the 2007 U.S. Census, Yorkville is located in the fastest growing county in Illinois and the fastest in the United States. It is predicted that Yorkville's population will double is size by 2012 from its current population of 15,240.
Located 45 miles southwest of Chicago, Yorkville has expanded at a rapid pace due to is proximity to the diverse employment bases in the Chicago and Naperville areas in addition to its affordable housing. The city's strong housing demand, particularly in single-family homes, has spurred tax base growth averaging 19 percent annually in the past several years. The city's 2007 median single-family home value equaled $243,000. Yorkville's median household income is $65,949.
According to the Kendall County Record, the city's hometown newspaper, building permits in 2006 were at a record high. Historically, since the year 2000, building permits have been on the rise. In the year 2000, 130 building permits were issued; 203 in the year 2001; 284 in the year 2002, 360 in the year 2003, 470 in 2004, 594 building permits were issued in the year 2005, 821 in 2006 and 478 in 2007.
Currently Yorkville city limits encompass approximately 19.6 square miles with a planning area of approximately 70 square miles. The United City of Yorkville is an ideal location for commercial projects which is also on the rise.
Since 2001, local sales tax revenue has jumped from $1 million in the 2000-01 fiscal year compared to $2.2 million in 2004-05. Commercial and industrial assessed values in the city have also jumped from $36 million to $70 million in the same time period.
Economic development activities in the city are the responsibility of both the United City of Yorkville and the Yorkville Economic Development Corporation (YEDC), a public/private partnership. The YEDC has a two-fold mission. It strives to serve prospective businesses while maintaining a strong relationship with existing entities.
Yorkville has seen some exciting changes in the area of economic development in the last two years including the recent announcement by Tri-Land Properties to redevelop the city's former Countryside Center with a new lifestyle center. Additional commercial development includes Kendall Marketplace, Home Depot, Kohl's Department store, Office Max and a new Super Target, coming soon. Rush-Copley Medical Center and Raging Waves Water Park are planning grand opening celebrations this summer. The city has also added a new post office, a 28,000 square-foot expansion of the city's Public Library, land annexations and commercial development opportunities south of the Fox River just in the last two years.
We're also encouraging new and existing business opportunities through several economic development incentives programs including the city's three Tax Increment Finance Districts (TIF), the Façade Program and a newly adopted Economic Incentive Policy.
The city is currently updating its Comprehensive Plan. A question and answer session is planned for June 19, from 4 to 8 p.m. at the Yorkville Public Library, 902 Game Farm Road. All are welcome.
But don't take our word for it. Come and see for yourself all the opportunities awaiting you in the United City of Yorkville. We know you'll be glad that you did.