Mayor: Yorkville Economic Development Corporation 'Invaluable'

At a time when Oswego is pulling funding for the Oswego Economic Development Corporation, Yorkville’s mayor says he has no intention of purposing something similar here.

Rather, Mayor Gary Golinski said the is “invaluable” to the city. He recently asked corporation Director Lynn Dubajic to provide aldermen with updates at City Council meetings.

“I’m looking at keeping (Dubajic) very busy for the next four years,” Golinski said.

The city’s $45,000 annual contribution comprises about 19 percent of the corporation’s overall budget, Dubajic said.

The corporation’s primary mission is attracting, retaining and expanding commercial and industrial business, according to its website. Members include local banks, healthcare providers, developers, attorneys and other local businesses, according to its website.

Golinski’s comments came as Oswego village leaders decided to discontinue its $85,000 annual funding to the Oswego Economic Development Corporation and pay its portion through the end of May. The village is exploring providing its own economic development initiatives.

On Friday afternoon, the Oswego Economic Development Corporation issued a news release announcing it would suspend operations and lay off its four employees on May 31 due to lack of funding.

“Please note that although we are scheduled to suspend operations on May 31, the board did not take action to dissolve the OEDC or the Oswego Visitors Bureau,” the release states. “I remain hopeful that the Village board will approve OEDC funding, so that we could avoid having to put this action into effect.”