The President's Letter

Lake County Partners is pleased to present Phase 1 of its new searchable, online sites and building database here.

Construction of the database began last year in cooperation with Lake County’s municipalities. Discussions regarding the database began with the Lake County Economic Developers’ Network, a group of local economic developers established by Lake County Partners, who meet monthly or every other month to discuss business attraction, retention and development issues in Lake County and to share information. With the assistance of the members of that group, we collected, aggregated and refined information for inclusion in the searchable database. The information will be updated quarterly with LCP working collaboratively with  communities to collect the information.

The sites & building database will include listings from member and non-member communities, alike. For site selectors who wish to have LCP staff conduct a confidential site search, we’ll also include a request form on the site (….which is in the process of being updated).

Phase 2 of the sites & building webpage will include a special section for member communities and real estate brokers/developers. This section will allow communities or developers to market properties that might not fit in a defined sites & building format. Such listings will include business parks, mixed use developments, incentive areas, downtown/Main Street areas, transit oriented developments, redevelopment districts, research & development facilities and historic districts. The goal of having this section on the website is to display a broader selection of real estate information than can be found on “pre-packaged” real estate websites.

Also planned for the website is a “Site Selectors Section” that will allow web users to create their own Lake County Information Packets. We hope to have this section ready by fall in time for the kick-off of a major Site Selector Marketing Campaign. Our goal is to approach all of the site selection consultants, real estate companies and management consultants in the Chicago-Milwaukee corridor to make sure they have Lake County on their lists as a great place to locate a business. Stay tuned for more information about this exciting campaign!

While the economy logged in its worse 3 month performance since the 1950s, consumers began to spend, reversing a two quarter decline. Spending on durable goods or big-ticket items such as kitchen appliances, furniture and cars, increased 9.4%. However, business cutbacks and the biggest drop in US exports in 40 years negated any consumer spending increases for the quarter.

Still economists, both government and private sector, expect that a recovery could begin as early as the end of 2009 or early 2010. National unemployment is at 8.5% and will likely increase to 10% by the end of the year and probably increase a little more in early 2010 until labor markets stabilize. Economists do not expect a return to full employment (5% national unemployment rate) until around 2013.

The seasonally unadjusted unemployment rate for Illinois in March is 9.4% and 9.6% for Lake County. The state’s rate increased between February and March but Lake County’s stayed the same. The unemployment rate for the Lake County/Kenosha County Metropolitan Division stood at 9.7%, decreasing from February’s figure of 9.8%.

• New orders for manufactured durable goods in March 2009 declined 0.8%, to $161.2 billion. Overall shipments fell 1.7% , to $175 billion, while non-defense capital goods shipments declined 0.9%, to $58.2 billion. Inventories decreased 1.1%, to $331.6 billion.
• New home sales in March 2009 declined 0.6% from February’s revised rate and declined 30.6% from one year earlier, to 356,000.
• The real gross domestic product (GDP) decreased at an annual rate of 6.1% in the first quarter of 2009. This follows a decrease of 6.3% in the fourth quarter of 2008.
• Personal income in March 2009 decreased 0.3%. Real and nominal personal consumer expenditures declined 0.2%. Real and nominal disposable personal income (DPI) were essentially unchanged from February. The personal saving rate as a percentage of DPI was 4.2% in March.
• New orders for manufactured goods in March 2009 decreased 0.9% from the prior month, to $345.3 billion. Shipments declined 1.2%, unfilled orders decreased 1.5%, and inventories declined 0.8% from February 2009.
• Construction spending in March 2009 increased 0.3% from the prior month but decreased 11.1% from the prior year, to $969.7 billion.

(source: EconomicIndicators.gov, US Department of Commerce)

Rust-Oleum Corporation of Vernon Hills, IL a premier supplier of paints and coatings for rust prevention and decoration in the U.S. and Canada, is expanding worldwide. John Simons, Director of International Sales, was presented with the U.S. Commercial Service's Export Achievement Certificate by Congressman Mark S. Kirk (IL-10) at the International Trade Business Forum in Grayslake, IL on April 27, 2009, an event cosponsored by Lake County Partners. Rust-Oleum's export business has grown dramatically over the past four years as a result of their focus on global opportunities. This decision resulted in a dramatic increase of $12 million in new sales, a 70% increase during that timeframe. Mr. Simons and his team receive export assistance from International Trade Specialist Robin Mugford, Libertyville Export Assistance Center. Mr. Simons also serves as a member of the Illinois District Export Council, an appointment made by the U.S. Secretary of Commerce.

Accepting the Export Achievement Award from Rust-Oleum Corporation (left to right in photo next to Congressman Kirk) were Tom Reed, President & COO Rust-Oleum Brands; John Simons, Director of International Sales; Sandy Patterson, International Assistant; John Kavanagh, Senior Vice President, Industrial Brands Group; and, Dave Steckel, Regional Manager.

Congratulations to Rust-Oleum Corporation!

Aldridge Electric, a Libertyville-based electrical contractor with over 500 employees, hosted a ribbon cutting ceremony on May 1st at its corporate headquarters to celebrate the installation of a 120 foot wind turbine, the first of its kind in Lake County. The wind turbine is expected to generate 40,000 kWH/year.

Aldridge Electric’s President, Ken Aldridge initiated the installation in an effort to promote sustainability and other green initiatives at the company.

The Village of Libertyville researched the impacts of the wind turbine and developed some zoning and site requirements for siting such a use. Now that Aldridge Electric and the Village of Libertyville have taken the first step in implementing and developing this alternative energy or “green” use, it should be easier for other Lake County companies and communities to follow suit.

The 29 acre Solo Cup Property is back on the sales block after a joint venture between Annenberg Investments Ltd. and Monroe Investment Partners LLC failed to line up financing for the acquisition of the property. The joint venture is still interested in buying the property at a reduced rate.

Solo Cup announced that its scheduled relocation to 150 S. Saunders Rd. in Lake Forest has been pushed back to December from this summer.

On April 25th, almost 100 residents and business owners turned out to the North Chicago VA Medical Center to learn more about the federal stimulus bill or the American Recovery and Reinvestment Act (ARRA). The event was co-sponsored by Lake County Partners, Lake County NAACP and Lake County Board Commissioner Angelo Kyle.

State Senator Terry Link (30th District), State Senator Susan Garret (29th District), and State Representative Eddie Washington (60th District), welcomed attendees. A number of state organizations were in attendance to help residents understand the implications of the stimulus act including the Illinois EPA, the Illinois Department of Public Health, Illinois Health & Family Services, Illinois Department of Employment Security, the Illinois Entrepreneurship Network and the Illinois Department of Commerce and Economic Opportunity (and its Bureaus of Workforce, Community and Economic Development).

Lake County Government was represented by the Lake County Workforce Development Department, Lake County Health Department and Lake County Community Development Division. The event was a great success and it gave us the opportunity to interact with a number of state agencies and new government executives. We've already been asked to replicate it when more information regarding the federal stimulus becomes available.

One of the more futuristic proposals to come out of President Obama’s federal stimulus bill, the American Recovery & Reinvestment Act (ARRA) is an $8 billion pot of money set aside to modernize railroad tracks and replace aging trains with new fleets. This could be a shot in the arm for a Chicago-based Midwest High Speed Rail network that would connect to St. Louis, Milwaukee, Detroit, Indianapolis, Minneapolis, Cincinnati, Cleveland, Kansas City and Louisville. The trains would travel at speeds of between 110 mph to 160 mph.

Obviously, the proposal impacts Lake County since travel to Milwaukee, Madison and Minneapolis would necessarily take a route through here. The railways would need to be improved but the real question would be if we would be able to host a station in the county? The information regarding this network is still sketchy, but we’re watching to determine the potential economic development impacts for Lake County.

The College of Lake County’s Workforce and Professional Development Institute (WPDI) is offering an array of new courses and seminars for Spring 2009. To visit the Workforce and Professional Development Institute’s website, click here.

To see how the Continuing Professional Development Division can help your business or employees, click here.

To review the WPDI's summer schedule, click here.

Attention entrepreneurs! Small Business Success in Lake County is a program that you cannot afford to miss:

Date/time: Thursday, June 4, 2009 7:30 a.m. – 2 p.m.

Location: College of Lake County – Grayslake Campus 19351 West Washington Street Grayslake, Illinois 60030

Cost: $25: breakfast, speakers, and information sessions (business panel discussion and lunch additional $10)

This all day event brings you brings you the best of business assistance in Lake County including programs through the Illinois Small Business Development Center located at the College of Lake County, through Lake County Government and, of course, through Lake County Partners. Other speakers will detail workforce development, marketing, municipal and chamber resources available throughout Lake County. Join the Lake County experts and determine which resources you can take advantage of in your journey to success! To register for this event or for more information, click here.

Fortune Magazine released its famed annual list of Fortune 500 and 1000 Lists for 2009. The Chicago Metro area is tied for second with Houston, Texas as the #2 location for Fortune 500 companies. The New York City area is still the number one location for Fortune 500 companies.

In terms of Fortune 1000 companies, Chicago ranks third behind New York City and Houston. Illinois ranks fourth in US as a location for Fortune 500 companies and fifth as a location for Fortune 1000 companies.

Lake County is home to nine companies in the Fortune 500 and another seven that fall into the Fortune 1000: Walgreen Co. (#36), Abbott (#80), Baxter (#219), Fortune Brands (#351), Discover Financial Services (#352), W.W. Grainger (#366), Tenneco (#416), United Stationers (#475), Brunswick (#491), CF Industries Holdings (#563), Hospira (#597), Pactiv (#604), Hewitt Associates (#653), Packaging Corporation of America (#812), Sauer Danfoss (#879) and Solo Cup (#949).

Questions? Concerns? Feel free to contact me at (847) 247-0137 or via email at dyoung@lakecountypartners.com.

Sincerely,

Dave Young, President