Goal:
Enhance Economic Opportunities
STRATEGIC STATEMENT: Foster balanced growth and a diverse economy to provide living wage jobs, housing, and
economic opportunities.
Strategy: Improve the economic climate and economic
readiness of Lake County.
Action A: Develop and implement a business visitation program to
identify and address emerging business retention opportunities and
threats.
Action B: Utilize business intelligence and market research to
enhance and align workforce development strategies with projected
local industry job growth.
Action C: Foster collaboration to create a highly effective network
that provides companies with timely assistance.
Action D: Cultivate a more direct engagement of the Governor and
Department of Commerce and Economic Opportunities in Lake
County’s economic development strategies.
Action E: Align economic opportunities with county and municipal
infrastructure investment strategies.
Strategy: Promote and encourage redevelopment
opportunities throughout the county to maximize use of
existing infrastructure.
Action A: Work with target communities to encourage new and
innovative development methods and offer assistance with data
and information on retention and redevelopment opportunities.
Action B: Identify barriers to retention and redevelopment and
assess the resources available for stimulating redevelopment.
Strategy: Increase collaboration and cooperation with
other units of local government to cultivate integrated
economic development.
Action A: Engage communities, civic organizations, and businesses
to discuss local and regional economic development strategies.
Action B: Lead a countywide initiative to continuously evaluate and
pursue a competitive incentives framework.
Action C: Encourage development that incorporates a balance
between housing and non-residential development through greater
collaboration with governmental entities.
Strategy: Increase marketing and awareness of desirable
locations in Lake County to facilitate the expansion of
existing companies and to attract out of region
companies looking to locate in Lake County.
Action A: Work through Lake County Partners on Comprehensive
Economic Development Strategy (CEDS) process to align community
economic development goals with available sites, infrastructure
needs, and long-term viability.
Action B: Engage community participation in increasing the
number of developable sites by aligning each community’s
economic development vision with their inventory of available
sites/buildings.
Action C: Continue working with the IL Rte 173 Corridor
communities on infrastructure planning to make the I-94/Rte 173
area “shovel ready.”
Action D: Continue working with the communities in the Central
Range area on economic development opportunities.
Strategy: Market Lake County as a business location to
targeted industries that have a significant investment in
Lake County.
Action A: Implement the CEDS in collaboration with Lake County
Partners in order to maximize the effectiveness of existing and
potential resources in retaining jobs, growing existing businesses,
and attracting investment and development.
Action B: Identify specific companies in target industries to actively
recruit for expansion and/or relocation.
Action C: Support Lake County Partners’ efforts to create target
industry recruitment and retention marketing materials.
Action D: Deliver on the value proposition for Lake County in five
areas:
• Talent – Can Lake County supply the long-term workforce needed
to serve existing businesses, new companies locating in the region
and new, high growth enterprises?
• Market Access – Can Lake County maintain and expand the
infrastructure and transportation services necessary for companies
to move their goods and ideas around the world?
• Value – Can Lake County maintain a competitive cost structure
while increasing quality of life and the physical infrastructure
necessary to provide companies with the best return on
investment?
• Innovation – Can Lake County dramatically accelerate job growth
by leveraging its institutional and private sector research and
development capacity?
• Outreach and Business Development – Is the Lake County story
being told to business leaders at home and around the world?