Dear Members:
Elmhurst’s Umbrella Sky Project made its official debut in the Schiller Walkway in downtown Elmhurst the evening of April 29, with additional displays going up along north York Street and outside the Elmhurst Art Museum over the next two weeks, respectively.
The brainchild of Elmhurst’s Public Arts Commission, the project came to fruition only with the assistance of Elmhurst City Centre, the City and site sponsors Community Bank of Elmhurst, Elmhurst Bank and Lakeside Bank, and International Contractors, Inc.—all ECCI members.
The umbrellas will remain up until mid-September and then each site will feature holiday lighting during the winter months before new displays will be install late next spring.
105th Annual Elmhurst Memorial Day Parade
May 5 is the deadline for interested participants to register to march in the 105th Annual Elmhurst Memorial Day Parade through downtown Elmhurst on May 29, stepping off at York and Third streets at 9:30 a.m. The parade will conclude at the Veterans Memorial in Wilder Park, where a one-hour Post-Parade Military Ceremony will be held starting at 11 a.m.
Contact our Chamber office by phone at 630-834-6060 or e-mail at info@elmhurstchamber.org to request the parade application form.
April 4 Consolidated Elections
In the April 4 Consolidated Elections, four of seven seats on the Elmhurst City Council changed hands, including newcomers in Wards 2, 6 and 7, and a former Alderman in Ward 3.
Ward 1 incumbent Jennifer Veremis won her three-person race, while incumbents Noel Talluto (Ward 4) and James Nudera (Ward 5) ran uncontested, as did former Alderman Michael Bram (Ward 3). Newcomers Karen Sienko (Ward 2), Guido Nardini (Ward 6) and Rex Irby (Ward 7), who unseated incumbent Mark Mulliner.
Incumbents Beth Hosler and Courtenae Trautmann and newcomers Kelly Asseff and Kelly Henry won seats on the Elmhurst Community Unit School District 205 Board of Education out of a field of nine candidates.
Incumbent Tim Sheehan and newcomer Susan Smentek won seats on the Elmhurst Park District Board of Commissioners over outgoing Elmhurst City Council Alderman Bob Dunne.
Economic Outlook ‘Uncertain’
America’s post-pandemic economy is strong on a number of fronts, but some “uncertainties” cloud the financial picture in the eyes of small businesses and wage earners alike. Consumers are feeling stress and concern, and consumer confidence is “less optimist now,” but remains above the pre-pandemic rate.
That was the message Keynote Speaker Leslie McGranahan, Vice President and Director of Regional Research at the Federal Reserve Bank of Chicago, delivered to a “Sold Out” crowd of 277 businesspeople and 39 exhibitors representing Elmhurst and 23 other west suburban chambers of commerce at the 21st Annual Economic Outlook Luncheon held at the Hilton/Oak Brook Hills Resort in Westmont on April 6.
Titled “Stubborn Inflation and Broader Uncertainty: Economic Outlook for 2023,” her presentation highlighted the “robust” growth in America’s economy and labor market, while noting concern over inflation and recent banking collapses. McGranahan also noted the disparity between key economic factors, such as a higher-than-preferred rate of inflation versus growth in the Gross National Product (GDP) and a 2-to-1 labor market ratio versus historically-low unemployment rates.
Designed to lower the inflation rate, increases in the Fed’s lending interest rate of 4.75 to 5.0 percent has had a “dramatic” impact in the housing market, leading to higher mortgage loan rates and a decline in new home construction. McGranahan is projecting slow GDP growth for 2023 and 2023, a one-percent uptick in unemployment from 3.5 to 4.5 percent and downward trend in inflation back to two percent.
Predictions of an imminent recession after slow GDP growth in the first two quarters of 2022 proved baseless as the economy grew by 3.2 and 2.6 percent, respectively, in the last two quarters, with Core Retail Sales growing during the First Quarter of 2023. Regarding three factors impacting the Consumer Price Index (CPI), the cost of core goods is dropping fast thanks to supply chain corrections, shelter costs remain high for owners and renters, and the cost of core services (sans shelter) is slowly decreasing. On the Household Balance Sheet, personal savings is below the pre-pandemic rate and the stock of excess savings is in decline, though still above pre-pandemic rates.
104th Annual ECCI Awards Gala
Click HERE to view Explore Elmhurst’s coverage of the one-hour awards program from our Chamber’s 104th Annual Awards Gala held at Elm West Banquets on March 10 or watch on local cable access TV on Comcast Channel 6 and AT&T U-Verse Channel 99 in May on Saturdays at 7 p.m.
2022 honorees are A.J. “Toche” Terrones Business of the Year Helping Hands Cleaning Service, Ambassador of the Year Eva Sanchez of See Your House Right Here @properties Elmhurst, Chairman’s Award recipient Desiree Chen of Elmhurst University and ECCI Civic Hall of Fame inductee John DeVries of DeVries Animal Hospital.
New Members
Our Chamber welcomed five new members in April: Guardian Radon Mitigation & Electrical Services, Lifonti Insurance Services, Midwest Express Clinic, Premium Motors and R3 Travel.
Dropped Members
The Chamber said goodbye to the following five members in April: Christopher Glass and Aluminum, Elm Chiropractic, Evolution Dance Experience, Evolve Beauty Bar & Med Spa, Keystone Financial Group, Luscombe Music and Title Boxing Club.