Naperville's Retail, Financial Landscape Among the Best in the State

NAPERVILLE, Ill. ~ Naperville, Illinois - The city of Naperville has once again proven its reputation as a world-class community by achieving financial milestones that showcase its commitment to fiscal responsibility. This further solidifies its position as the leading place to do business in Illinois and highlights the continued health of the local economy.

In early July, Naperville was awarded the highest available bond rating for its General Obligation bonds by both Standard & Poor's Global Ratings (S&P) and Moody's Ratings. This is not a new achievement for the city, as it has held the 'AAA' rating from S&P and the 'Aaa' rating from Moody's for over 30 years. This is a testament to Naperville's healthy local economy and sound financial practices, including a low debt burden, strong cash reserves, and stable pension funding.

The bond-rating process is crucial as independent agencies issue ratings based on various factors such as development trends, population growth, and available cash reserves. These factors together assess the city's financial health. A triple-A rating for a community indicates a lower risk to individuals and institutions that purchase bonds, which ultimately leads to lower interest rates when borrowing money.

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Moody's report highlighted that Naperville "benefits from a growing economic base, stable financial profile supported by budgetary flexibility associated with its home rule status and its role as the second largest local economy in Illinois." Similarly, S&P noted Naperville's "robust, growing economy that is independently strong but also part of a broad and diverse metropolitan statistical area." They also acknowledged the city's high level of reserves, consistently stable financial operating results with no immediate budgetary pressures, low debt, and a knowledgeable management team.

These ratings reviews were conducted in conjunction with a planned $40 million bond issuance later this month. The funds will be used to support ongoing projects for Naperville's Electric and Water Utilities. The full rating reports are available on the City Finance page of Naperville's website.

In addition to its financial achievements, Naperville has also maintained its title as the top retail sales tax generator outside of Chicago, according to the 2026 Melaniphy Chicagoland Retail Sales Report. This is not a new feat for the city, as it has held this distinction since 2017 when it overtook Schaumburg. In 2025, Naperville recorded over $5.7 billion in retail sales and was the top location in the suburbs for grocery, drinking and eating, home improvement, and auto dealer and gas purchases.

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Mayor Scott Wehrli expressed his pride in this accomplishment by stating, "Being the state's second-largest retail economy for nine years running is a testament to our community leaders and planners of the past who set us up for success today." He further emphasized that this success is crucial as it helps keep costs down for residents. When businesses generate strong sales tax revenue, it helps pay for city services, roads, and public safety. This ultimately reduces the burden on homeowners through property taxes. The mayor also highlighted that people want to live and visit a community known for its financial stability, public safety, and quality of life. Businesses are also drawn to open their doors in Naperville due to its affordability.

In conclusion, Naperville's recent financial achievements once again prove its commitment to fiscal responsibility and reinforce its reputation as a world-class community. With its high bond ratings and position as the top retail sales tax generator outside of Chicago, Naperville continues to be an attractive place for businesses and residents alike.

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