Naperville’s Retail, Financial Landscape Among the Best in the State
Retail Sales Ranking, Reaffirmed Bond Ratings Reflect Strong Local Economy
NAPERVILLE, Ill. - Naperville has long been regarded as a world-class community that successfully balances the financial requirements of providing daily municipal services with the implementation of a long-term community vision. Recently, the City of Naperville once again achieved financial milestones that showcase its commitment to fiscal responsibility and reinforce its reputation as the leading place to do business in Illinois, highlighting the continued health of the local economy.
In early July, Naperville was again awarded the highest available bond rating for the City’s General Obligation bonds by both Standard & Poor’s Global Ratings (S&P) and Moody’s Ratings. The City has held the ‘AAA’ rating from S&P and the ‘Aaa’ rating from Moody’s for over 30 years, 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 important because independent agencies issue ratings based on many factors, including development trends, population growth and available cash reserves, which together assess the City’s financial health. A triple-A rating for a community indicates a lower risk to individuals and institutions that purchase the bonds, which favorably affects the cost of borrowing by lowering interest rates.
Moody’s report noted 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,” while S&P noted Naperville’s “robust, growing economy that is independently strong but also part of a broad and diverse metropolitan statistical area, along with a high level of reserves; consistently stable financial operating results, with no immediate budgetary pressures; low debt; and a sophisticated and knowledgeable management team.”
The ratings reviews were conducted in conjunction with a planned $40 million bond issuance later this month, which will fund 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 2025, Naperville also maintained its title as the state’s top retail sales tax generator outside of Chicago, according to the 2026 Melaniphy Chicagoland Retail Sales Report. Naperville has held this distinction since 2017, when it overtook Schaumburg. In 2025, Naperville had 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.
"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," Mayor Scott Wehrli said. "That success matters because it keeps costs down for our residents. When businesses generate strong sales tax revenue, that money helps pay for city services, roads and public safety, so the burden doesn't fall as heavily on homeowners through property taxes. People want to live and visit a community known for its financial stability, public safety and quality of life. Businesses want to open their doors here too, and when they do, they help keep Naperville affordable for the people who call it home."
About Naperville: Located 28 miles west of Chicago, Naperville, Ill., is home to approximately 150,000 people. This vibrant, thriving city consistently ranks as a top community in the nation in which to live, raise children and retire. The city is home to acclaimed public and parochial schools, the best public library system in the country, an array of healthcare options and an exceptionally low crime rate. Naperville has ready access to a variety of public transportation, housing and employment options. The city’s diversified employer base features high technology firms, retailers and factories, as well as small and home-based businesses. Residents also enjoy world-class parks, diverse worship options, the opportunity to serve on several City boards and commissions, a thriving downtown shopping and dining area, a renowned outdoor history museum known as Naper Settlement and an active civic community. For more information, please visit our website at www.naperville.il.us.