Schaumburg, Ill., Mayor Al Larson
Schaumburg’s Village Board recently adopted a budget for the fiscal year spanning May 1, 2016 through April 30, 2017. Mayor Al Larson says that the village’s new budget “represents a fair and balanced financial plan that does not include any new taxes.” The mayor says his village’s treasury continues to face the potential loss of revenues that the state shares with cities, towns and villages.
“Over the past year, Schaumburg has worked with the business community to attract new developments that will not only create new jobs and opportunities, but will also add to the village’s tax base,” the mayor tells GPN. He says that more than 1,125,000 square feet of new industrial and commercial development at a cost of nearly $345 million has recently been completed, creating or retaining 3,100 jobs in the village.
The mayor adds, “Sales tax revenues exceeded the previous year’s conservative budget projections, demonstrating that retail sales are continuing to steadily recover from the economic downturn.”
In the North Schaumburg Tax Increment Financing (TIF) District, two sizable businesses, Sunstar Americas and Zurich American Insurance, recently invested $50 million and $300 million respectively, to construct headquarters facilities.
Schaumburg’s Village Board recently adopted a budget for the fiscal year spanning May 1, 2016 through April 30, 2017. Mayor Al Larson says that the village’s new budget “represents a fair and balanced financial plan that does not include any new taxes.” The mayor says his village’s treasury continues to face the potential loss of revenues that the state shares with cities, towns and villages.
“Over the past year, Schaumburg has worked with the business community to attract new developments that will not only create new jobs and opportunities, but will also add to the village’s tax base,” the mayor tells GPN. He says that more than 1,125,000 square feet of new industrial and commercial development at a cost of nearly $345 million has recently been completed, creating or retaining 3,100 jobs in the village.
The mayor adds, “Sales tax revenues exceeded the previous year’s conservative budget projections, demonstrating that retail sales are continuing to steadily recover from the economic downturn.”
In the North Schaumburg Tax Increment Financing (TIF) District, two sizable businesses, Sunstar Americas and Zurich American Insurance, recently invested $50 million and $300 million respectively, to construct headquarters facilities.
