Resource Category: Commercial Real Estate

Lake County is a model of strong economic development according to recent economic indicators. In just three years, the local Gross Domestic Product (GDP) grew 9.6%, reaching $69.7 billion. Real GDP was also up 1.1% in the same time frame. Projections anticipate a 21.8% increase in metro area GDP by 2027, and Lake County will enjoy another 2.8% uptick in jobs in the same time frame, resulting in 10,000 new jobs. The number of businesses in Lake County now exceeds pre-pandemic levels. Unemployment is low, and job growth and outputs are high. Growth capital is fueling key industries like manufacturing, life sciences, IT and healthcare, with startups in Lake County having raised $89.79 million in 2022 alone. This has favorable implications for commercial real estate; Lake County celebrated more than 20 investments in spaces of 20,000 sq. ft. or more last year. This issue also looks at Lake County’s thriving craft drink industry, accolades honoring the local workforce development ecosystem, and LCP’s recently issued RFP for a housing study. Also, meet the College of Lake County’s Ali O’Brien, who partners with LCP to develop talent and drive business forward, leveraging the state-of-the-art assets at the new Advanced Technology Center in Gurnee

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This newsletter focuses on strategies for business success. Lake County Partners is driving economic growth, developing talent and enhancing economic mobility in Lake County, Illinois. In 2022, Lake County Partners’ work resulted in 419 new jobs, 112 retained jobs and $202 million in direct capital investment – the highest investment number in five years. Major wins in key industries like life sciences and manufacturing coupled with important new partnerships and the implementation of the Comprehensive Economic Development Strategy have set the stage for lasting success and a pipeline full of projects to tackle this year. The exciting new Greater Chicagoland Economic Partnership launched to drive economic development and strengthen the region’s competitiveness. In partnership with World Business Chicago, LCP highlighted a new tech talent recruitment engine for H1-B visa holders and profiled World Business Chicago’s Michael Fassnacht.

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This month’s newsletter highlights recent ribbon cuttings and a roundtable discussion with manufacturing industry experts, hosted by Crain’s Chicago Business and IMEC. Go behind the scenes at the new Neal Math and Science Academy in North Chicago, made possible through a generous donation by AbbVie, and see why fine dining restaurants are flocking to Lake County. Also, meet Dr. Ronald Kaplan and get his perspective on the latest developments at Rosalind Franklin University, and the school’s Innovation and Research Park. Lake County Partners is once again ending the year on a high note, with plenty of growth, economic development and investment that is driving key industries like advanced manufacturing and life sciences forward.

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The College of Lake County’s new Advanced Technology Center brought together hundreds of leaders for a grand opening celebration. The cutting-edge facility will develop talent to fuel Lake County’s thriving advanced manufacturing industry. Other stories look at strong life science growth, as illustrated by Covira Surgical – young company at Rosalind Franklin University that has had fundraising success and is moving to submit an application for a new drug to prevent post-surgical infections. Finally, meet Illinois Manufacturers’ Association president and CEO Mark Denzler in a Q&A that illustrates the important role that manufacturing has in Illinois’ economy.

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Major investments are fueling business growth and quality of life in Lake County, Illinois. Economic development in the Chicago suburbs continues to thrive, and this newsletter looks at Valent BioScience’s expansion in Libertyville, the extensive makeover of Hawthorn Mall in Vernon Hills, and the many reasons why businesses are investing in Illinois. Key industries are on the rise, especially in private food-related research and development, IT, life science, healthcare, manufacturing, distribution, logistics and clean energy. Also, meet Derrick Burress, the principal at Lake County Tech Campus who is driving enrollment to arm students with in-demand skills to support these growing industries.

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Major investments are fueling business growth and quality of life in Lake County, Illinois. Economic development in the Chicago suburbs continues to thrive, and this newsletter looks at Valent BioScience’s expansion in Libertyville, the extensive makeover of Hawthorn Mall in Vernon Hills, and the many reasons why businesses are investing in Illinois. Key industries are on the rise, especially in private food-related research and development, IT, life science, healthcare, manufacturing, distribution, logistics and clean energy. Also, meet Derrick Burress, the principal at Lake County Tech Campus who is driving enrollment to arm students with in-demand skills to support these growing industries.

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Major investments are fueling business growth and quality of life in Lake County, Illinois. Economic development in the Chicago suburbs continues to thrive, and this newsletter looks at Valent BioScience’s expansion in Libertyville, the extensive makeover of Hawthorn Mall in Vernon Hills, and the many reasons why businesses are investing in Illinois. Key industries are on the rise, especially in private food-related research and development, IT, life science, healthcare, manufacturing, distribution, logistics and clean energy. Also, meet Derrick Burress, the principal at Lake County Tech Campus who is driving enrollment to arm students with in-demand skills to support these growing industries.

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Major investments are fueling business growth and quality of life in Lake County, Illinois. Economic development in the Chicago suburbs continues to thrive, and this newsletter looks at Valent BioScience’s expansion in Libertyville, the extensive makeover of Hawthorn Mall in Vernon Hills, and the many reasons why businesses are investing in Illinois. Key industries are on the rise, especially in private food-related research and development, IT, life science, healthcare, manufacturing, distribution, logistics and clean energy. Also, meet Derrick Burress, the principal at Lake County Tech Campus who is driving enrollment to arm students with in-demand skills to support these growing industries.

Download now

Major investments are fueling business growth and quality of life in Lake County, Illinois. Economic development in the Chicago suburbs continues to thrive, and this newsletter looks at Valent BioScience’s expansion in Libertyville, the extensive makeover of Hawthorn Mall in Vernon Hills, and the many reasons why businesses are investing in Illinois. Key industries are on the rise, especially in private food-related research and development, IT, life science, healthcare, manufacturing, distribution, logistics and clean energy. Also, meet Derrick Burress, the principal at Lake County Tech Campus who is driving enrollment to arm students with in-demand skills to support these growing industries.

Download now