Life Science Jobs Up 7.5% & Investment on the Rise
The 11th biennial TECONOMY/BIO report is out, giving Illinois plenty to celebrate on the life sciences front. Illinois is enjoying remarkable industry momentum, with employment growing 7.5% since 2019. Nearly 5,000 establishments now support 93,000 high-paying jobs. Illinois also ranks 4th nationally in venture capital investment, with companies attracting $11.1 billion between 2019 - 2023.
Lake County is well known for its top-ranked schools and talent pipeline. Local nonprofit Reading Power Inc. is amping up the success with high-dosage tutoring that is having a major impact. In its 20+ years of operating in Lake County, Reading Power has developed 15 programs across 12 schools, and helped more than 5,300 students fast-track their reading.
This school year, an impressive 72% of participants met grade level expectations and increased an average of 5 book levels. It's all thanks to 425 volunteers who have invested in shaping the next generation of Lake County leaders.
The Village of Round Lake Beach's economic development strategy to attract unique businesses, create new jobs, and support a high quality of life has paid off again - this time with a groundbreaking celebrating a new Pizza Ranch, the 9th of its kind in Illinois and the first suburban Chicago location.
Calling all employers, business owners, HR professionals, and Lake County residents! Don’t miss this opportunity to gain industry insights, connect with experts, and build partnerships that support sustainable growth in the hospitality and retail sectors.
📅 Date: Tuesday, March 11, 2025
📍 Location: Great Wolf Lodge, Gurnee, IL
💼 Cost: Free of Charge
🔹 What to Expect:
- Industry Insights: Key trends, wage & benefit strategies, and best practices
- Local Support & Resources: Access tools for workforce development
- Networking: Connect with businesses, agencies, and community organizations
Thanks to the Lake County Workforce Development Board, Job Center of Lake County, Visit Lake County, Village of Gurnee, Village of Libertyville, Village of Lincolnshire and Great Wolf Lodge for partnering with us on this unique event.
You're relatively new to your position - what excites you most about it?
Business expansion, relocation projects and investments are all up in Illinois. Companies are taking note of the momentum and tapping into the many opportunities that we have to offer. From our central location to strong financial footing, easy access to global markets and world-class leaders, we have so much to leverage when telling our story and showcasing Illinois as a prime place to do business. Collaboration is front and center, and we have the right players at the table to expand the economy.
Tell us a bit about how Team Illinois is advancing economic development.
“Team Illinois” is a coalition that brings together the Governor’s Office, the Illinois Department of Commerce and Economic Opportunity (DCEO), Intersect Illinois and countless utilities, private companies and EDOs (such as Lake County Partners) and regional entities like the Greater Chicagoland Economic Partnership (GCEP).
Serving as a coordinated and united front to advance Illinois’ business climate, this collaboration helps ensure the “Why Illinois” story is told – especially in industries with high-growth potential, such as life sciences, quantum computing, next-generation agriculture, advanced manufacturing, and clean energy. Click here to learn more about Team Illinois' efforts.
How is Illinois stoking growth in these key industries?
Illinois recently released a five-year economic growth plan that serves as a road map for economic development and harnesses the power of our state's unique advantages and attractive incentives. We want to make it easy for businesses to locate in Illinois, and we have a wide range of services that can help decision-makers navigate through the site selection process and find the talent that will supercharge their success.
