Target Industries
Lake County is home to almost 27,000 businesses, including 3,400 with more than 20 employees and over 450 companies with more than 100 employees. Top industries include pharmaceutical manufacturers, medical device manufacturers, health service providers, business service firms, engineering and management consulting firms and financial/insurance/real estate companies.
Based on existing industry clusters and worker demographics, Lake County’s target industries include pharmaceutical/biotechnology, advanced manufacturing, corporate headquarters/professional service.
Lake County is home to significant number of pharmaceutical, biotechnology and life science companies. In fact, this general industry cluster employs approximately 35,000 workers in Lake County. These companies include such notable heavy hitters as Abbott Inc., Baxter International, Takeda Pharmaceuticals North America, Hospira, Astellas Pharma Inc. and Hollister Inc.
The benefits of a Lake County, Illinois location to pharmaceutical & biotechnology companies:
- Location image
- Access to scientific talent
- Quality of life
- Office and research/development facilities
- Access to clinical and technical talent
- Industry presence
- Chicago is a top location for biotechnology/pharmaceutical firms
Lake County is a natural fit for the manufacturing industry. There are over 1,300 manufacturing companies employing almost 43,000 workers in the county and many of those are in the medical device, packaging, plastics, advanced metals, and automotive parts/equipment manufacturing fields. In fact many of these companies are suppliers to the pharmaceutical, biotechnology, and health care product fields so prevalent in the area.
The benefits of a Lake County, Illinois location to advanced manufacturing companies:
- Strong local industry base
- Access to strong scientific and engineering talent
- Favorable manufacturing labor costs
- Access to strong manufacturing labor pool with a variety of skill levels
- Chicago Metro area is a top location for manufacturers in several fields including medical devices, plastics and consumer products.
Due to its proximity to both Chicago and Milwaukee, its access to two international airports, and its location in the 3rd largest metropolitan area in the US, Lake County has become home to a number of impressive corporate headquarters over the years. There are a total of nine Fortune 500 companies with their headquarters in Lake County: Walgreen Co., Abbott, Baxter International, Fortune Brands, CDW, Brunswick, W.W. Grainger Inc., Tenneco, and United Stationers Inc. There are a total of 18 companies on the Fortune 1000 list with corporate headquarters in Lake County.
Almost 43% of Lake County’s workforce is employed in management/financial or professional fields and this attracts a number of financial service, technology, management consulting and engineering firms to the area. Lake County’s educated and creative workforce is second to none, nationally or internationally.
The benefits of a Lake County, Illinois location to corporate headquarters and professional services companies:
- Location image
- Favorable cost of living
- Access to professional and managerial talent
- Access to IT talent
- Regional access to national and international locations
- Strong local industry presence
- Abundant, prestigious office space
- Chicago Metro has the 2nd largest number of professional service establishments in the nation.
Source: Deloitte & Touche, Lake County Target Industry Study 2002
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