2021 was an incredible year for economic and community growth in the City of Aurora, thanks in large part to the efforts of the Invest Aurora team. Invest Aurora is committed to advancing economic opportunities in the City of Aurora by attracting exciting new businesses to the city, as well as retaining and promoting current members of our business community. We saw great success in 2021 in terms of accomplishing important developmental goals, as well as planning for the future of the city.
2021 Completed Projects
The ongoing completion of real estate development projects helps the city continue to evolve, thrive, and remain financially prosperous. Most importantly, these projects are vital to the continued growth of the city. In 2021 we completed 17 projects. This led to:
- 992 jobs created or retained
- $122 million in private investment
- 47 million square feet of commercial space leased or purchased
- 70 ribbon cuttings
- 349 residential units
- 424,000 sq ft of retail/mixed use space filled
Focus on City Improvements
In order to attract and maintain businesses, we continually focus on helping the City of Aurora reach its full economic potential. In 2021:
- Vacancy rate decreased from 5.5% at the beginning of 2021 to 4.8% by December
- Unemployment rate decreased from 7.8% in January 2021 to 4.2% at year end
- Construction projects remained a high priority with 223,000 sq ft of industrial space currently under construction
Business Retention
Invest Aurora strives to be a valuable resource for our business community. Our business support specialists provide strategic consulting services to help businesses grow and operations run more efficiently. We also help our business community locate and apply for the financial assistance they need to expand, complete important projects, increase their workforce or remain operational. In 2021, our business community took advantage of these incredible free services, as we saw:
- 336 successful business consults
- $2.7 million disbursed through the State of Illinois Back to Business program
Looking Toward the Future
While 2021 was a great year for the city, we continually strive for greater advancements for the future. We are excited to have:
- 4 million sq ft of new industrial space planned for 2022
- 2,194 residential units coming
- 800K sq ft of new retail/mixed use space on the way
The dedicated team at Invest Aurora is here to answer all of your questions and help your business succeed in any way we can. Contact us by phone at 630-256-3160 or by email at info@investaurora.org to discover how your business can be a part of the continued success of the City of Aurora.