Childcare deficit in northwest Illinois drives need for YMCA expansion
Stephanie Diehl, the executive director for youth development, says the need for caretakers in the area is dire.
'I believe when they collected data two years ago, they said we were short 1,200 slots in our region,' she said.
'We have a waiting list, especially with infants, toddlers and twos that exceeds over 60 kids. And we get calls every single day, for every single age group, with parents asking us if we have room for childcare,' Diehl added.
The YMCA's 'Vision 2030' plan will move the organization from the campus of Highland College to a nearby facility.
'The vision includes creating a healthy living campus, which will serve as a community hub for childcare services, early childhood education, as well as health and wellness activities for Northwest Illinois residents,' Diehl explained. 'Creating a healthy living campus will allow the Y to expand its offerings, enhance the Y member experience, and allow for co-located partners to better serve the community.'
She said reducing the deficit in childcare providers will not only impact kids and parents, but the entire community.
'I hear, employers, businesses, that can't hire their staff because their staff don't have childcare or their potential staff. The school district has talked about not being able to hire teachers because after they have a baby, to [be able to] return back after maternity leave, they don't have childcare for their kids,' Diehl said. 'One of the biggest things families look for is reliable childcare. And if there's not reliable childcare, then they don't relocate to our area.'
The YMCA of Northwest Illinois hopes to have the new childcare facility open sometime in 2027.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 hours ago
- Yahoo
Saudi Aramco profit drops for 10th straight quarter
Oil giant Saudi Aramco announced its 10th straight drop in quarterly profits on Tuesday as a slump in prices hit revenues, putting more pressure on the key driver of the Saudi economy. Second-quarter profits slid 22 percent year-on-year to 85 billion riyals ($22.67 billion), extending a decline that stretches back to late 2022. "The decrease in revenue was mainly due to lower crude oil prices and lower refined and chemical products prices," Aramco said in its quarterly report. Aramco's falling revenues come as Saudi Arabia pursues a costly revamp aimed at reducing its reliance on oil and pivoting towards tourism and business. Crown Prince Mohammed bin Salman's Vision 2030 project includes flashy resorts, sprawling entertainment complexes and NEOM, a futuristic $500 billion new city in the desert. Aramco was trading at 23.97 riyals on Tuesday, 12 percent below the 27.35 riyals price of its secondary share offering last year. Since a high point of nearly $2.4 trillion in 2022, when oil prices soared following Russia's invasion of Ukraine, Aramco has lost more than $800 billion in market value. Oil prices, currently around $70 a barrel, have remained low despite tensions roiling the Middle East, including the short-lived Israel-Iran war in June. However, Aramco president and CEO Amin H. Nasser remained optimistic, predicting higher demand in the rest of the year. "Market fundamentals remain strong and we anticipate oil demand in the second half of 2025 to be more than two million barrels per day higher than the first half," he said in the report. On Sunday, Saudi Arabia, Russia and six other key members of the OPEC+ alliance announced a production hike of 547,000 barrels per day as they unwind cuts of 2.2 million bpd that were designed to prop up prices. - 'More downwards than upwards' - Last month, Saudi Arabia's Jadwa Investment forecast a widening of the budget deficit to 4.3 percent of GDP this year. Oil revenues provided 62 percent of the budget last year. Aramco's latest drop in profits was widely expected by industry analysts. "Oil market forces are more downwards than upwards in the first half of 2025, due to OPEC+ policy shifts and economic uncertainty stemming from the US trade war," Abu Dhabi-based Ibrahim Abdul Mohsen told AFP. "This has impacted the profit margins of oil companies, including Aramco." But he added: "Saudi Arabia has strong reserves capable of defending financial stability and supporting development projects in the short term." Government-owned Aramco listed on the Saudi exchange in the world's biggest initial public offering in 2019, selling 1.7 percent of its shares at $29.4 billion. A secondary offering of 0.64 percent of its issued shares raised a further $11.2 billion in June last year. Aramco has also transferred a 16 percent stake to the Public Investment Fund, the Saudi wealth vehicle that is driving much of Vision 2030. ht/th/kir Sign in to access your portfolio


CNBC
14 hours ago
- CNBC
Saudi Aramco posts drop in quarterly revenues amid lower crude, oil products prices
Saudi Aramco on Tuesday posted a drop in second-quarter revenues, citing lower crude oil and refined chemical products prices that were only partially offset by higher traded volumes. The world's largest oil company declared an adjusted net income of 92.04 billion Saudi riyal ($24.5 billion) over the three months to the end of June. The result compares with a forecast of adjusted net income of $23.7 billion, according to an analyst survey estimate supplied by the company. Second-quarter revenues dropped to 378.83 billion Saudi riyals from 425.71 billion Saudi riyal in the same period of the previous year. "Market fundamentals remain strong and we anticipate oil demand in the second half of 2025 to be more than two million barrels per day higher than the first half," Aramco CEO Amin Nasser said in a Tuesday statement accompanying the results. Crude prices have stayed depressed over the course of the year, barring a brief second-quarter flare-up sparked by Israel-Iran tensions. Futures have been under pressure from an uncertain outlook for demand, exacerbated since April by the rollout of Washington's wide-spanning tariffs. The protectionist trade measures muddy the picture for growth in the world's largest economy and the future of the U.S. dollar, which denominates most commodities — including crude oil. Aramco's income is set to see a boost from higher output, after Saudi Arabia – and seven other OPEC and non-OPEC partners — complete unwinding 2.2 million barrels per day of voluntary cuts through a last tranche in September. Saudi Arabia most recently produced 9.356 million barrels per day in June, according to independent analyst estimates compiled in OPEC's Monthly Oil Market Report. Aramco has increasingly tapped debt markets, with two issuances totalling $9 billion in the second half of 2024 and a three-part bond sale of $5 billion this year. Front of mind for investors is the dividend policy at Aramco, which in March slashed investor returns for 2025 to $85.4 billion — down sharply from the $124.2 billion of 2024 — after a first-quarter decline in net profits. Aramco declared a base dividend of $21.1 billion and a performance-linked dividend of $0.2 billion in the third quarter. The company's dividend yield stood at 5.5% as of Monday, still ahead of U.S. industry peer Exxon Mobil's 3.6% and Chevron's 4.5%, according to FactSet data. Aramco's payouts ripple sharply into the budget of Saudi Arabia, which has been juggling diversifying its economy away from oil reliance under Crown Prince Mohammed bin Salman's signature Vision 2030 program. Saudi Arabia's gross domestic product expanded by 3.9% in the second quarter, boosted by non-oil activities.


USA Today
a day ago
- USA Today
Sycamine Capital Management: Gulf Turns to AI Gold Rush
Gulf Nations Accelerate Infrastructure Expansion, Securing Strategic Partnerships, Driving Economic Diversification, and Advancing Computational Technologies and Arabic Language AI Models SINGAPORE, SG / ACCESS Newswire / July 31, 2025 / Gulf nations are intensifying investments in artificial intelligence, marking a significant strategic shift toward technological dominance and economic diversification, according to Sycamine Capital Management. Saudi Arabia alone has dedicated over $40 billion towards AI initiatives under its Vision 2030, positioning itself firmly as a global hub for AI innovation. Analysts widely interpret this development as a clear indication that 'compute is the new oil.' Gulf countries leverage sovereign wealth and advantageous geography to secure central roles in global AI markets. The UAE's ambitious 'Stargate' project, featuring vast data centres hosting international tech giants such as OpenAI, exemplifies this strategic approach. Throughout 2024, AI investments in the region have reached unprecedented levels. Saudi Arabia's Public Investment Fund initiated a $100 billion AI initiative, while the UAE formed a groundbreaking $200 billion tech partnership with the United States. These substantial commitments attracted key global partnerships, including NVIDIA's agreement to supply advanced AI chips to Saudi Arabia's HUMAIN initiative over five years. Sycamine Capital Management highlights the shift of AI from emerging technology to mainstream commercial use across healthcare, finance, manufacturing, and software sectors. Early adopters integrating AI are expected to realise significant returns within the next decade due to improved operational efficiencies and reshaped competitive landscapes. National AI strategies reinforce the Gulf's technological ambitions. Saudi Arabia's National Strategy for Data and AI targets a 12% GDP contribution from AI by 2030. Simultaneously, the UAE aims to revolutionise government operations and boost lucrative sectors, illustrated by Abu Dhabi's $3.5 billion investment to establish the world's first entirely AI-driven government by 2027. Regional sovereign wealth funds actively support these AI advancements through equity investments, infrastructure projects, and international collaborations. Notable partnerships include Saudi Arabia's alliances with Google and Amazon Web Services for AI hubs and large-scale data centres, and Abu Dhabi's G42 collaborations with Microsoft and BlackRock. Furthermore, international technology corporations such as NVIDIA and AMD are deeply embedded in regional AI infrastructure, supplying high-performance hardware. Notably, Saudi Arabia's HUMAIN initiative includes substantial deployments of NVIDIA's GB300 Grace Blackwell AI supercomputers and AMD's $10.3 billion infrastructure project. These developments are complemented by robust Arabic language AI model initiatives, promoting digital sovereignty and addressing linguistic gaps in global AI research. Saudi Arabia's HUMAIN and UAE's Falcon Arabic exemplify such culturally relevant AI systems. Sycamine Capital Management asserts these strategic investments illustrate the Gulf's decisive pivot towards digitally driven economic leadership, significantly influencing global AI landscapes. About Sycamine Capital Management Established in 2008, Sycamine Capital Management Pte. Ltd. provides investors with forward-looking analysis in AI and ESG sectors, identifying opportunities ahead of market trends. For more information, visit Contact: Simon Lau (Media Relations) Email: Website: SOURCE: Sycamine Capital Management View the original press release on ACCESS Newswire