The economy of Naperville is highly developed, diverse, and robust, characterized by a strong corporate presence, high median incomes, and low unemployment. Originally an agricultural center, the city transformed into an economic powerhouse with the development of the Illinois Technology and Research Corridor along Interstate 88.
Naperville boasts a high standard of living, with a cost of living that is higher than the national average, driven largely by housing costs. However, this is offset by a high median household income, estimated at over $135,000.
Major employers include Edward Hospital (part of Edward-Elmhurst Health), which is a massive driver of the local economy. Other significant employers include Nokia (formerly Alcatel-Lucent), BP America, BMO Harris Bank, and Nicor Gas. The city's economic strengths lie in its highly educated talent pool, strategic location near Chicago, and excellent municipal services, ensuring continued business investment and future development in mixed-use commercial spaces.