HOFFMAN ESTATES, Ill. (CBS) – The Fourth of July is just around the corner, and many towns and cities are cutting back on festivals and fireworks displays to save money.

But a group of municipalities are pooling their resources to make it a Fourth to remember, CBS 2’s Marissa Bailey reports.

Hoffman Estates Mayor Bob McLeod says behind every smart man is an even smarter woman. The same is true for him.

It was his wife’s idea to invite other communities to the Hoffman Estates Fourth of July celebration. And so, the first Northwest Fourth-Fest was born.

“No one can afford to do this on their own anymore so if you join together, it works,” McLeod says.

Joining in are Elgin, Hanover Park, Hanover Township. Hoffman Estates is playing host at the Sears Centre, with food tents, a stage and rides spread across the surrounding green space.

Hoffman Estates and Elgin are throwing in $15,000 each, and Hanover Park is offering $10,000; Hanover Township, $5,000.

Elgin hasn’t had fireworks since 2008, when it cost more than $64,000.

Hanover Park and Hanover Township have never had fireworks on the Fourth.

Residents there were thrilled about the idea.

“It’s better having fireworks on Fourth of July than not at all,” Hanover Park Donna Blanco says.

Mayor McLeod says he’s hoping to expand the fest for next year.

Click here for a list of fireworks shows in the Chicago region.

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