Q4 2016 Economic Developments Newsletter

The Lake County Partners Quarterly E-Newsletter: December 2016

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Click here to see the economic indicator charts from the December 2016 newsletter.

 

Lake County Workforce Ecosystem to Host First Annual Engineering Internship Fair

Lake County Partners and the College of Lake County have partnered together to host the first annual Lake County Engineering & Job Fair at the CLC Grayslake Campus on January 6, 2017. Representatives from leading Lake County businesses will be present to recruit local students graduating from top-rated Midwest Engineering programs. 

The fair, which kicks off the Engineering Internship Program, pairs local businesses with students seeking real-world opportunities to enhance their education within the chosen field of study. The internship program was created to address a key need identified by local businesses, of finding quality entry-level Engineers.

Representatives from various Lake County businesses will be present to recruit local students graduating from top-rated Midwest Engineering programs. Many of these students started within the CLC Engineering program and moved to finish their degrees at such prestigious programs as University of Illinois-Urbana, Northern Illinois, Milwaukee School of Engineering (MSOE) and Purdue. The program is designed to equip students, within their final few semesters, with interaction in the various departments within the company with a major focus of working on projects that relate to their area of study.

Employers will also be able to interview exiting graduates for current, full-time positions. Students in attendance will have resumes and portfolios for company representatives. The various programs of study include Industrial, Mechanical, Biomedical, Chemical, and more. With more than 11 leading companies, and 70+ students already registered for the fair, the groundwork is laid to provide success in finding qualified individuals to work at top Lake County companies. For more information on the fair, including registration info, go to the LancerLink Fair website here

 

Manufacturing Jobs Boom in Lake County

While Lake County saw a loss of manufacturing jobs during the recession, it has been unique in its recovery compared to state and national trends, where jobs have not yet recovered to pre-recession levels, and further declines are in the forecast. According to the latest data, manufacturing sector jobs in Lake County are up 15% since 2010 and forecasted to grow an additional 4% by 2020. Through the Business Outreach Program, Lake County Partners is working to ensure that this sector continues to thrive—click here to learn more

 

Nypro Healthcare Chicago Breaks Ground to Expand Facility in the Village of Gurnee

Lake County Partners recently joined other local leaders at a groundbreaking ceremony to commemorate the start of a construction project that will nearly double the size of Nypro Healthcare Chicago’s existing facility to almost 170,000 sq. ft. in the Village of Gurnee. The expansion will enable Nypro, a health care product manufacturer, to better serve the company’s local and global clients. The company has announced that the investment will also include the addition of an initial 60 new jobs—a testament to Lake County’s position as a premier location for businesses in the Medical Instrument/Precision Tooling Industry. 

 

Valent BioSciences to Invest $22 Million at Innovation Park

Valent BioSciences, the global leader on biorational products, has announced that the company will invest $22 million to construct a 98,000 sq. ft. “Global Innovation Center” to serve as their primary research facility at Innovation Park, the redeveloped former Motorola headquarters located in the Village of Libertyville. BECO Management recently hosted an open house at the property to unveil its initial $10 million renovation project which includes a new entryway, café, fitness center, gym, drycleaner, massage area and game room. There is approximately 800,000 sq. ft. of available office space to lease in the building. As the space fills with new tenants, it is expected that an additional $70 – $100 million will be invested to build out spaces and add additional amenities.

 

Noise Barriers, LLC Recognized as the 2016 Lake County Manufacturer of the Year

The Alliance for Industry and Manufacturing (AIM) recently held its annual Manufacturing Awards Dinner in Chicago, where Governor Bruce Rauner presented Libertyville-based Noise Barriers, LLC with the “Lake County Manufacturer of the Year” award for its manufacturing and supply of architectural, industrial and environmental noise control products and solutions. Learn more about Noise Barriers in this video overview, or read our press release here.

 

Lake County Partners Increases Engagement with Local Communities

This year, Lake County Partners continued to strengthen services for municipal investors. We hosted 4 well-attended workshops for our Municipal Economic Development Advisory Group, partnered with 10 municipalities on a booth at the International Council of Shopping Centers Deal Making Show, and provided over 1,700 data reports to assist municipalities with marketing their communities, attracting investment and recruiting business. 

Based on positive feedback, we will continue to offer the same services to municipal investors in 2017. Please mark your calendar and plan to join us at the University Center in Grayslake from 11:30 a.m. – 1 p.m. on the following dates in 2017: March 15th, June 14th, September 13th and December 6th.

Event details, agendas and RSVP requests will be sent by email to municipal contacts prior to each meeting.  If you have questions regarding the meeting series or ideas for future agenda items, please contact Economic Development Manager Barbara Prusila at bprusila@lakecountypartners.com or 847-597-1230.

 

Accelerated Development Continues in Lake Zurich

The Village of Lake Zurich continues to see significant development and redevelopment in the second half of 2016. Recent activity includes: a 162-unit apartment development with approximately 19,000 sq. ft. of retail space at the former K-Mart site, a market analysis to determine the feasibility of a mixed-use development at the Lake Zurich Lumber Company site,  a 48-unit apartment project at the northwest corner of Main Street and Old Rand Road, development plans for a vacant 24-acre site at the southwest corner of Route 22 and Quentin Roads, and a new Illinois Secretary of State Department of Motor Vehicles facility. 

One of the most long-awaited projects in the Village of Lake Zurich is the redevelopment of the former K-Mart site, which has been idle for nearly 14 years. Garden Homes of New Jersey, which has owned the property for several decades, plans to appear before the Lake Zurich Village Board on December 19 to seek final approval to demolish the current site and replace it with a three building, 162-unit apartment development with approximately 19,000 square feet of retail space fronting Rand Road.  It is anticipated that this new residential density will be a boon to commercial business along this high-traffic corridor and spur additional development over the next several years.

In November, elected officials also approved a two building, 48-unit apartment project on the northwest corner of Main Street and Old Rand Road.  Again, following the theory of retail following residential, it is anticipated that bringing density into the downtown area will serve as a catalyst for further mixed use development.  Indeed, Village officials met recently with the new owners of the former Lake Zurich Lumber Company at the northwest corner of Route 22 and Old Rand Road.  The owners are currently undertaking a market analysis to determine the best use for this busy intersection.  The initial concept calls for a mixed-use development, with commercial/fast casual restaurants on the ground floor and luxury residential units on the floors above.

In addition, plans are under development for the vacant 24-acre site at the southwest corner of Route 22 and Quentin Roads.  Patrick Taylor of Central One, LLC, has submitted an application for Preliminary Plan consideration for a new subdivision on approximately 18.43 acres to be known as “Steil Plaza of Lake Zurich.” This development will consist of 48 new single-family homes and approximately 5.6 acres of commercial/retail development along Rt22. The developer appeared before the Village Board on October 17 and received positive feedback to proceed.

Lake County residents will also be able to take advantage of the convenience of the Illinois Secretary of State Department of Motor Vehicles newest facility which opens January of 2017 at the Deerpath Commons Shopping Center on South Rand Road.  This will result in a significant increase in the number of visitors to Lake Zurich and further spur commercial activity in this major corridor.

 

Welcome New Board of Governors Members Jack Danilkowicz and Daniel Joyce

We are pleased to announce the addition of several new members to our Board of Governors: Jack Danilkowicz of Horizon Pharma plc and Daniel Joyce of MacLean-Fogg Company. 

Jack Danilkowicz serves as Chief of Staff for the CEO and as an Executive Director in the Orphan Business Unit at Horizon Pharma plc. Prior to these positions, Jack held several roles within Horizon Pharma’s business development group. Before joining Horizon Pharma, Jack was an investment banker with Robert W. Baird. He received a Bachelor’s Degree from the McIntire School of Commerce at the University of Virginia and a Master’s Degree from the Curry School of Education at the University of Virginia.

Daniel Joyce has served as the Vice President of Tax at MacLean-Fogg Company since 2008. Prior to his time at MacLean-Fogg, he served in several senior tax positions with Altria (formerly Philip Morris), National Specialty Hospitals, IMC Global, Inc. and McGladrey & Pullen, LLP. Daniel is a member of both Tax Executives Institute and Financial Executives Institute and has served on various non-profit boards. He graduated from Northern Illinois University with a Bachelor’s of Science Degree in Finance. He became a Certified Public Accountant in 1998. Daniel also has a Master’s of Science Degree in Taxation from DePaul University and an Executive MBA from Northwestern University’s Kellogg Graduate School of Management.

 

A Behind-the-Scenes Look at Lake County Partners

Through meaningful collaboration with our partners, and an emphasis on working together to supply companies with a skilled workforce and the space that they need to grow, we have been able to raise the profile of what it means to do business in Lake County. This infographic gives a numeric glimpse into the initiatives that we have focused on over the past year. 

 

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