The President's Letter - August News & Events

We've heard your pleas and we are in the process of reformatting our newsletter to make it more reader-friendly and investor-focused.  This might be the last time you see this format so bear with us!

The summer has been has been a busy one for Lake County Partners. We've met with almost 40 companies since June as part of our business visitation program.  We've also worked almost 20 real estate searches and completed 14 custom research projects for members and potential prospects.  Changes to the SBA 504 loan program that have eliminated fees through 2010 have increased interest and we've fielded 6 requests for SBA 504 loans and provided technical assistance to 14 companies looking for other lending resources.

In other LCP news...

Our Marketing & Communications Committee is looking for new members! We're looking for a few creative types to help us with our look.

Healthcare Task Force Update:  Building the pipeline for a locally trained healthcare workforce. Task Force sets date for strategic planning session.  A Lake County healthcare roundtable is in the works.

There's a new minor league baseball team in town and you're invited to come learn more about them! The Lake County Fielders Organization, the Zion Chamber of Commerce and Lake County Partners invite you to a "Business & Baseball" luncheon on Wednesday, August 12th, 11 am to 1 pm at Illinois State Beach Resort & Conference Center.

Join us for lunch and hear how the new Lake County Fielders will impact area businesses. The Fielders' Managing Partner & President Rick Ehrenreich, General Manager, Ben Burke and Assistant Manager Mike Beauvais will be on hand to share their vision of baseball in Zion.

RSVPs are required and can be made by calling the Zion Chamber of Commerce at (847) 872-5405. The cost to attend is $20.00 (the cost for Zion Chamber of Commerce members is $10).

This is a great opportunity to meet the Fielders' management team and learn more about what will surely become one of Lake County's top attractions!

Business Facilities, a magazine that tracks economic development and real estate projects internationally, released its 2009 rankings this month and Illinois fared well on a number of indicators. Illinois ranked #8 for overall biotechnology strength, due mainly to its strength in biotechnology employment, the number of bioscience higher education degrees being award at colleges and universities in the state, and the number of biotech facilities located in the state.

The state ranked #6 for transportation infrastructure. Criteria for this ranking included the state’s share of overall federal highway funding; per capita federal highway funding; lowest number of roads in mediocre condition; lowest number of deficient bridges; inland waterway mileage; railroad tonnage; public transportation; number of airports; air cargo hubs; and maritime container hubs. Illinois ranked well because it is a larger state with a relatively dense transportation infrastructure.

Illinois ranked #5 among all states in regards to the number of LEED-certified projects being undertaken in the state.

The annual report also includes rankings for state business climate, cost of labor, greenest states, education climate, business tax climate, quality of life, automotive manufacturing strength, and workforce health and safety. The report also includes international rankings of a nations.

On July 30th, Govenor Quinn signed legislation that will extend three key tax incentives for an additional five years. Under the new law that takes effect immediately, the Manufacturers Purchase Credit, Graphic Arts Machinery & Equipment exemption, and Investment Tax Credit will be available through 2014. All three were scheduled to sunset on July 31st.

Kudos to the Illinois Manufacturing Association (IMA) for leading the effort to protect and extend these key incentives for Illinois’ business community. Thanks also to our own Rep. Sid Mathias (53rd Representative District) for providing key leadership on passing this legislation.

Lake Forest Hospital announced plans to begin work on a $49 million outpatient surgical center and cancer treatment facility at its existing Grayslake medical campus on Route 120. News Sun

Mettawa-based HSBC announced plans to vacate its 238,000 sq. ft. office complex in west suburban Wood Dale by the time the lease expires in 2011. Employees will either be moved to its headquarters location in Mettawa or to existing offices in Schaumburg or Elmhurst. Crain's Chicago

NorthShore University HealthSystem has filed a letter of intent with the Illinois Health Facilities Planning Board to construct a $22 million 75,000 sq. ft. medical office building in Gurnee at the corner of Grand Ave. and Rollins Rd. Gurnee Review

Gurnee celebrated the kick-off of its first, stand-alone chamber of commerce. Over 50 businesses have joined the new organization that will operate as a virtual chamber through its website for the time being. Daily Herald

The federal government launched new mapping capacities at its recovery website that allow users to map stimulus spending by state, by federal agency, and by recipient. According to the latest figures, the federal government has paid out $2.5 billion in Illinois already with almost half of that figure being expended by the US Department of Education. www.recovery.gov

The Employment & Training Administration sponsors a network of websites called Workforce3 One that serves as a web space for employers, workforce professionals, and economic developers to share content and connect with one another about workforce issues. The site contains resource information, online learning events, and other tools to help organizations develop successful workforce strategies. It’s free, too! International Economic Development Council

New broadband funding opportunities have been announced and a new FAQ sheet has been produced that answers questions about the application process, infrastructure issues, eligibility, matching funds, and more. International Economic Development Council

Over $220 million in Recovery Act funding is available for projects that provide training and placement services that help workers pursue careers in the healthcare sector and high, growth emerging industries. The funding is being managed by Employment and Training Administration and the Department of Labor. Applications are due October 5, 2009. International Economic Development Council

President Obama recently announced a plan to pump $12 billion into the nation’s community colleges over the next 10 years to help workers prepare for new careers. The plan includes $2.5 billion for construction and renovation at campuses, $500 million for new online courses, and $9 billion in challenge grants to spur innovation at community colleges. A report released by the President’s Council of Economic Advisors underscores the fact that jobs requiring only an associate degree or skills certificate are projected to grow slightly faster than those requiring at least a bachelors degree in the coming decade. Washington Post

This 7-Step Action Plan to win government contracts funded by the stimulus is worth a read for any Lake County businesses interested in accessing these funds. Not all stimulus resources are reserved for infrastructure spending! Entreprenuer Magazine

Eight Midwestern States and City of Chicago have entered an agreement to coordinate plans for high speed rail throughout the region. The network would be based in Chicago with first priority projects based on the Chicago-St.Louis, Chicago-Milwaukee/Madison WI, and the Chicago-Detroit/Pontiac Corridors. Crain's Chicago

• Construction spending in May 2009 decreased 0.9% from April and decline 11.6% from May 2008 to $964 billion.
• New orders for manufactured goods in May 2009 increased 1.2% from April to $347.9 billion. Shipment decreased 0.9%, unfilled orders declined 0.2% and inventories fell 0.6% from April.
• Wholesale inventories in May 2009 declined 0.8% from April and decreased 7.6% from May 2008 to $402.2 billion. Sales increased 0.2% from the prior month but declined 19.9% from 2008 to $311.3 billion.
• The US international trade deficit in goods and services decreased 9.8% to $26 billion in May 2009. Exports rose 1.6% to $123.3 billion while imports declined 0.6% to $149.3 billion.
• Advanced monthly retail sales in June 2009 increased 0.6% from May but declined 9% from June 2008 to $342.1 billion. Excluding autos, June retail sales rose 0.3% from the prior month but declined 7.9% from the prior year.
• Business inventories in May 2009 declined 1% from the prior month and fell 8% from the prior year to $1,368.1 billion. Sales declined 0.1% from April 2009 and fell 17.8% from May 2008 to $966.1 billion.
• Building permits in June 2009 increased 8.7% from the prior month but decreased 52% from 2008 to 563,000. Housing starts in June 2009 rose 3.6% from May but declined 46% from June 2008 to 582,000.
• New home sales in June 2009 increased 11% from May but declined 21.3% from June 2008 to 384,000.
• New orders for durable goods in June 2009 decreased 2.5% from the prior month to $158.6 billion. Excluding transportation, new orders rose 1.1%. While overall shipments fell 0.2%, capital goods shipments rose 0.6%. Inventories declined 0.9% in June.
• Real gross domestic product (GDP) decreased at an annual rate of 1.0% in the second quarter of 2009. This follows a decrease of 6.4% in the first quarter.
• The national unemployment rate for June came in at 9.5%. In comparison, the rate for Illinois was 10.3% and June figure for Lake County was 8.7%. The Lake County figure is not seasonally adjusted and may be lower.

Source: Economics and Statistics Administration, US Department of Commerce; Illinois Department of Employment Security

Lake County ATHENA Powerlink ® and Congresswoman Melissa Bean’s Office are seeking nominations for awards targeting women business owners and professionals in Lake County:

Lake County ATHENA Powerlink is taking applications for its 2010 Award. Great program focused on providing a lucky woman-owned company in Lake County with business mentoring services.

Congresswoman Melissa Bean is looking for nominations for the 2009 "Winning Women Awards". Open to women who reside in or provide service to the 8th District and have demonstrated community leadership and the ability to inspire.

Do you or your employees need an educational tune-up? The College of Lake County’s Workforce and Professional Development Institute (WPDI) offers an array of new courses and seminars that might help. 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 get more information about the courses and seminars that the WPDI is offering this summer and fall, click here.

Just a personal thank you to our renewing members -- we appreciate your continued support of Lake County Partners and the economic development effort that we put forth every day. In these tough economic times, companies are still inquiring about Lake County Illinois and we absolutely have that “we want you in our neighborhood” attitude.  We have the ability to tie  companies to interested communities with the intent of expanding local growth and job creation which will in turn help with the economic turn around for us all. Please consider joining us in our mission to continue to make Lake County a vibrant, growing and wonderful place to live, work and raise families. If you are not a member of our organization, I invite you to call to receive additional information on how to join Lake County Partners. We would welcome the opportunity to work with you…"lets talk business"!

Sincerely,

Frank Brisbois, Interim President

Lake County Partners