That's a very important element of the story: in the book, Bill states DERRY is IT. It's almost like the citizens let all the horrors happen as a ritual sacrifice to ensure the town's prosperity (there are several scenes with children in danger and bystanders doing nothing, as the film shows when Ben is cut by Henry).

Many find this to be the most chilling and disturbing aspect of the novel: the fact the menace is everywhere, that, as Beverly finds out the hard way, "It just fills the hollow places": it can haunt places and even possess people.