A quick look at the population of Schaumburg City will reveal that the town has a very diverse population, with almost 20 percent of its citizens being Asian. This diversity has helped the local economy, as Schaumburg is home to a large number of Asian-owned shops and restaurants. Since the late 1990s, the town has experienced tremendous growth and development, and may now be considered one of the largest shopping districts outside of Chicago.
The city is home to the World Headquarters of Motorola Solutions and is a hub for shopping and nightlife in the Northwest Suburbs of Chicago. Schaumburg is also home to the largest shopping mall in Illinois, the Woodfield Mall, which typically has more than 300 stores. The area is also home to the headquarters of Zurich Insurance, one of the largest global companies in the world. In addition to being a major retail hub, Schaumburg is also home to the largest financial institution in Illinois, the Zurich Insurance Company.
The population of Schaumburg has increased tremendously in the past two decades. In 1970, the population reached 18,730. Interstate 290 was built on the eastern boundary of the city and provided another link to Chicago. In 1976, the Woodfield Mall opened, becoming one of the first malls in the city. Its residential capacity grew to 68,586 in 1990. In 1990, Schaumburg's population increased to 68,586, an increase of over fifteen hundred people since the 1980 census.