Business growth is in full force this month, and Chicagoland is once again ahead of the trends. Get the latest on Smalley Steel Ring’s expansion, our thoughts on the Greater Chicagoland Economic Partnership, a data dive revealing why young talent is moving to the region, your tickets to the Big Event and a Q&A with Wight & Company’s Megan Zack, who weighs in on the latest trends in sustainability.
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For an astounding 11th consecutive year, Site Selection Magazine has recognized Chicagoland’s enduring allure as a hub for business growth. Also, LCP’s in-demand annual breakfast program is back and better than ever. Join us Thursday, May 9th at the Lincolnshire Marriott for unparalleled networking and an inspirational morning focused on ways to strengthen, sustain, and leverage Lake County’s business assets. Get insights from keynote speaker and best-selling author Rajeev Kapur as well as local leaders such as Lake County Board Chair Sandy Hart, LCP Chair Steve Madden, LCP President Kevin Considine and others. Also, read GCEP’s new Annual Report, celebrate recent Lake County business headlines and meet new Board of Governors Member and President of Lake Forest College, Dr. Jill Baren.
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LCP is hitting the ground running in 2024 where economic development is concerned. This issue looks at the many accolades that Illinois has received for its workforce development, corporate investment, infrastructure, education, capital access and cost of living. We also dive into a new deep pool project proposed by Diveheart, explore what the new Made in Illinois automation grants mean for manufacturers, and review what the $8.1 million grant awarded to Rosalind Franklin University means for the school’s infrastructure, technology and training.
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Lake County’s talent and strong mix of life science, advanced manufacturing and professional service industries continued to power the local economy forward in 2023. Lake County Partners celebrated a flurry of new businesses and expansions, forged important connections, and began implementing the Comprehensive Economic Development Strategy to support lasting growth.
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We’re ending 2023 on a high note when it comes to business development in Lake County, Illinois. We capped off a record streak of job and investment growth, and this newsletter touches on the highlights, providing a bevvy of stories on life science, manufacturing and more. Plus, we celebrate Kevin Considine’s recent appointment as Vice Chair of the Greater Chicagoland Economic Partnership, and we visit with LCP Board of Governors’ Vice Chair Dan Joyce.
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Autumn has brought many opportunities to celebrate business growth and capital investment in Lake County, Illinois. Midwest Industrial Funds broke ground on a massive new spec development in Libertyville, LCP proudly participated in a regional delegation to Japan, and Governor Pritzker joined local officials in celebrating new green technology at EVBox. Plus, meet long-time LCP supporter and new Board of Governors member John McCann – he is the Economic and Business Development Manager at ComEd.
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We are thrilled to announce that our president and CEO, Kevin Considine, has been named a TITAN 100 this year, making him one of only 100 CEOs and C-level executives in the Chicago region to receive the honor. Under Kevin’s leadership, LCP’s work has resulted in 4,340 new jobs, 4,738 retained jobs and $933 million in direct investment over the past 5 years. LCP’s impact is expected to surpass the $1 billion mark in early 2024. In addition to his incredible impact on economic development, Kevin has been instrumental in many important talent initiatives, and he played a pivotal role in Lake County’s Comprehensive Economic Development Strategy to fuel equitable, long-term growth and opportunity. The Titan 100 recognition is well deserved, and we thank TITAN 100 and Wipfli for the award.
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In order for Lake County to attract and retain residents and businesses, it must have a diverse housing stock that provides options for households at different life stages, ages, incomes, and sizes. It needs a greater diversity beyond owner-occupied single-family detached homes. The lack of housing will limit the county’s ability to attract and retain workers, particularly with an aging population, and projected decline in the working age population. In recognition of the important role of housing in community building and economic development, Lake County Partners, with support from Lake County Housing & Community Development and Illinois REALTORS®, is pleased to announce the completion of a Housing Analysis report. LCP worked with Kretchmer & Associates to conduct a study looking at the demographics of the county (population, household profiles, income, etc.) and our housing stock (number, type, location, etc.) to identify gaps. The analysis is a look at the quantitative and qualitative data on the existing housing landscape and the barriers that exist to meeting our housing needs. The report includes several significant findings.
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This issue looks at the many ways that LCP is fueling capital investment and job growth. It also goes in depth on a recent ribbon cutting at advanced manufacturer Real Wheels, and promotes the new Asset Report & Map produced by the Greater Chicagoland Economic Development Partnership. Plus, meet Kim Wimer, the Human Resources Manager at Laser Precision and the Chair of the Lake County Workforce Development Board.
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Lake County’s talent pipeline continues to stand out as among the best in the nation. U.S. News & World Report just ranked local high schools among the top out of 18,000 schools surveyed. Rosalind Franklin University is making major investments in space and workforce training, with a new nursing program. As a result of local efforts, Chicagoland was just ranked in the Top 10 biopharma clusters in the country. Also, meet Benjamin Rodriguez, the new Director of College and Career Readiness at Community HS District 128.
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