Lake County Partners Newsletter – February 2023

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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