Stay informed about economy news and updates in Chicago, IL.
Mayor Brandon Johnson of Chicago has announced a significant refinancing plan aimed at saving the city $110 million in debt payments. The plan involves refinancing $1.5 billion in debt, which is expected to alleviate some financial burdens for the city.
Mayor Brandon Johnson announced nearly $7 million in federal grants to support job training and workforce development in Chicago, benefiting two local organizations. The funding aims to improve job quality and expand access to training opportunities, particularly in the infrastructure and construction sectors.
The City of Chicago's Department of Finance has released a Request for Proposals (RFP) for designation as a Municipal Depository for the year 2025. This initiative aims to enhance revenue collection, utility billing, and financial reporting within the city. The RFP details various forms and commitments required for interested parties.
Plant Chicago has secured an $825,000 grant from the Neighborhood Opportunity Fund to renovate a former firehouse into a mixed-use headquarters, supporting sustainable practices and community investment. The $1.8 million project aims to enhance indoor gardening, workspaces, and retail operations, reflecting the organization's commitment to a circular economy.
Chicago will host the NASCAR Chicago Street Race again in 2025, following a successful inaugural event in 2023 that generated significant economic impact. The announcement highlights NASCAR's commitment to local communities through various initiatives.
Mayor Brandon Johnson has released the City of Chicago's FY2025 Budget Forecast, revealing a projected budget gap of $982.4 million. The forecast highlights fiscal challenges and emphasizes the city's commitment to strategic investments despite the financial difficulties.