Lake County is a Model of Economic Development

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.

These findings are the result of data intelligence recently shared by the Research Center at World Business Chicago through LCP's municipal forum, made possible by the support of Libertyville Bank & Trust and Wintrust Community Bank. 

Libation Trail Spotlights Thriving Beverage Industry

Innovative breweries, wineries and distilleries are jumping at the opportunity to call Lake County home. They have found immense support from municipal leaders, reliable utilities, a lively entertainment scene, and spaces that can adapt to their uses and support retail as well as manufacturing and distribution. Visit Lake County's Libation Trail has made it easy to enjoy the results of the many artisan drink makers that have flocked to the area to set up shop. 

Illinois Takes Top Workforce Honors

Illinois is #1 in workforce development in the Midwest, according to Site Selection Magazine. The ranking honors the state’s healthy employment climate and highlights the innovative local approach to workforce programs, career training and services. In Lake County, an integrated strategy is ensuring a robust talent pipeline that benefits growing businesses.

LCP Issues RFP For County Housing Study

High-quality housing is the cornerstone of a thriving community. We are requesting proposals for a housing study to enhance our understanding of housing opportunities and needs so that we can leverage the intelligence to fuel the economy and support residents in Lake County, Illinois. Responses are due March 10th. 

Meet a Partner

Ali O'Brien

Vice President of Community & Workforce Partnerships at the College of Lake County

What makes Lake County's workforce stand out?

Talent in Lake County is highly diverse and supports key industry sectors such as healthcare, manufacturing, and hospitality. As the only open access, public higher education institution in the county, the College of Lake County (CLC) has an average student age of 26 years old, which signals that learning and upskilling is happening across generations in the workforce.

How is CLC's new Advanced Technology Center (ATC) shaping local talent?

The ATC is equal parts developing a robust talent pipeline for local businesses and shifting perceptions toward the highly innovative and advanced nature of Industry 4.0 technologies. We want all ages to see the potential for a career pathway in manufacturing, and the ATC brings to life those opportunities. In the first semester that the ATC opened, nearly 200 students completed coursework that moved them closer to certifications and degrees needed to work in local businesses. See how Lake County's unique workforce ecosystem is a leader in talent development here.

What's next for the ATC?

Now that phase one of the ATC is open and running classes, we’re on parallel tracks to grow enrollment in the Welding Fabrication Technologies and Industrial Technology programs as well as fundraise for phase two. We invite every ATC visitor to help us dream about what’s next, especially our business partners. Ideas range from a business sandbox, to a production environment for proving concept on a newly designed product, to a maker museum for our youngest residents! Learn more about the ATC here. 

How can businesses tap into the talent coming out of CLC?

CLC has a full service Career & Job Placement Center that connects businesses to talent through apprenticeships, internships, job fairs, career expositions, site visits, and class presentations. The earlier a business engages with our students during their program of study, the more opportunities they have to scale top talent up from a job shadow to a job placement.

How has Lake County Partners impacted what you do?

The collaborative partnership with LCP has significantly increased CLC’s employer engagement through a consistent flow of referrals. We add to the business development team’s resource list as a talent asset for the region, and in return, LCP offers a direct connection to businesses who need talent to grow or locate in the area. CLC is better at responding to business trends and needs because of Lake County Partners.

Our work would not be possible without the leadership of our Board of Directors & the support of our investors.