2019 ced eye opener breakfast · 6/27/2019 · •investor relations ced investor benefits. ......
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2019 CED Eye OpenerBreakfast
June 27, 2019Tuscany Falls Banquet Hall
Village of Mokena
John GreulingPresident & CEO
About the Will CountyCenter for Economic Development
The CED is a private non-profit 501(c)(6) developmentcorporation formed in 1981
Funding for the CED comes from private and public Investors committed to the CED’s Missions and Principles
Our services are available for free to all private and public entities committed to creating a robust economic future for Will County
About the Will County Center for Economic Development
The mission of the Will County Center for Economic Development is to assist in:
• The retention and expansion of existing businesses
• The recruitment of new businesses, and
• The creation of new jobs and investment throughout Will County
CED Mission
The CED’s programs and services are based on the following principles:
• Defense of the Illinois and Will County Economies
• Competitiveness of Will County Businesses
• Diversification of the Economic Base
• Inclusive Economic Development
• Infrastructure Modernization
• Workforce Development
CED Guiding Principles
Real Estate Information: Comprehensive site and building data base
Economic Data & Research: Development activity & trends, population,
workforce, taxes, regulations, customized research
Incentives: Project & program eligibility and analysis
Government Guidance: Contacts and coordination with federal, state,
and local officials
Presence Where It Counts: Federal and state lobbying
CED Services to Businesses
Why Invest with the CED?
We rely on our strong network of Investors and community leaders to help us carry out our mission of making Will County one of the
nation’s leading economic hubs
As a CED Investor, you help us fulfill our mission
CED Investor Benefits
CED Investor BenefitsAs a CED Investor you are part of the most influential business organization in the Will County area, assisting major projects and developments, impacting public policies that affect local businesses, and contributing to the Illinois and Will County economy
CED Investor Benefits
CED Investor BenefitsMembership on one or more of the CED’s Board,
Committees, and Councils, including:
• Board of Directors
• Executive Committee
• Government Affairs Committee
• Will County Infrastructure Initiatives (Freight Advisory Council, I-80 Coalition)
• Economic Development Council
• Investor Relations
CED Investor Benefits
CED Investor Benefits
• Connections with private and public sector leaders to increase your Will County business opportunities
• Free or discounted registration at CED events and programs
• Receive our monthly edition of CED InFocus newsletter
• Priority access to all the CED’s business assistance programs to assist Investors and their clients with business expansion projects
• Regular contacts with the CED to ensure you are receiving a return on your CED investment
CED Investor Benefits
Economic Update
The State of the State – Illinois in 2019
Reinvesting in Illinois
I-80 labeled "signature'
projectIDOT chief presents I-80 plans
at Joliet forum
Illinois Remains a Global Powerhouse
116,000 new businesses formed in 2018 is 6th in the nation, and up 12% from 2017
Illinois Leads in Job Creation
Illinois is significantly outperforming its neighbor states in job creation after the recession.
And Unemployment is Historically Low
But challenges remain – Starting with population since 2010
-162,786
1. Texas
2. Florida
3. Tennessee
4. North Carolina
5. Indiana“Indiana…It has a very low tax burden and a regulatory environment that is somewhat favorable to business. And when you look at the state budget, there is no looming unfunded public-pension liability”- Dan Starr, CEO of Do It Best, to CEO Magazine
CEO Magazine: BEST States to do Business:
1. California
2. New York
3. ILLINOIS
4. New Jersey
5. Connecticut
CEO Magazine: WORST States to do Business:
“You cannot tax a society into prosperity, and all Illinois is doing is setting ourselves up to make a bad situation even worse”- David MacNeil, owner of WeatherTech, to CEO Magazine, while hinting that Florida is looking pretty good these days for his future industrial investment
The State of Will County
Economic Conditions in Will County
Population: 692,310 (2018, up 2% from 2010)
Unemployment Rate: 3.7% (April 2019 – Ties lowest April on record)
Median Household Income: $82,477 (2017, 5th – highest in State)
Job Growth: 8,450 New Jobs (Q2 2018 – Q2 2019)
Housing: 1,594 new building permits (2018, up 15% from 2017)
Keeping Young Residents
Illinois: 13.9%25 to 34 year olds
Keeping Young Residents
Cook Co: 16.5%25 to 34 year olds
Keeping Young Residents
Will Co: 11.6%25 to 34 year olds
Will County Job Creation
100,000
120,000
140,000
160,000
180,000
200,000
220,000
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Source: Bureau of Labor Statistics, QCEW Data
Will County Private Jobs 2001 - 2018
Recession
215,000 in 201837% job growth post-recession
123,000 in 2001
156,000 in 2009 recession trough
Will County Unemployment
Will County Job Creation, The Greuling Era
Will County continues to lead the State in job creation, but the rest of the State is starting to perform better, led by a resurgence in Cook County Jobs
Company Employment Industry
Amazon 7,000 E-commerce
Plainfield Schools 3,104 Education
Presence St. Joseph Med Ctr. 3,023 Health Care
Silver Cross Hospital 2,771 Health Care
Will County Government 2,314 Government
JJC 1,553 Education
WeatherTech 1,527 Manufacturing
Ozinga 1,500 Material Handling
Valley View 365 School Dist. 1,300 Education
West Liberty Foods 1,244 Food
Peacock Foods 1,200 Food
Stateville Correctional 1,168 Government
Southern Wine & Spirits 1,123 Food
Panduit 1,073 Manufacturing
Citgo Lemont Refinery 1,050 Energy
Ulta 1,036 Personal Products
Will County Top Employers
Residential Construction
Building permits were up in 2018, but remain well off pre-recession highs
Residential Sales
In spite of the increase in new construction, total sales are down each of the last two years as the County struggles with low inventory of existing homes.
Will County Multi Family Residential Construction
Will County continues to under produce multifamily inventory relative to our peers
CMAP Area Multifamily share of total new units
2014 - 2018
Cook 82%Illinois (statewide) 53%Lake 34%Kane 33%McHenry 32%DuPage 31%Will 16%Kendall 13%
Retail and Office Activity
Office vacancy rates hit an all-time low in 2018, at 6.6%
Retail vacancy remains well below historic average, but increased to 6.1% in 2018
Will County Industrial Inventory
1996: 51 million sf
2019: 184 million sf
2005: 101 million sf
Will County Industrial Vacancy
2018: 11.2%
2019: 10.0%
2003 – 2008 Average: 13.6%
Largest US Container Ports
2018 Rank North American port Location Coast Volume, TEU
1 Los Angeles California West 6,414,597
2 Long Beach California West 5,317,390
3 New York-New Jersey NY-NJ East 5,109,039
4 Will County Illinois Inland 3,500,0005 Savannah Georgia East 3,404,558
6 Vancouver, British Columbia Canada West 2,862,989
7 Northwest Seaport Alliance Washington West 2,389,335
8 Houston Texas Gulf 2,230,348
9 Manzanillo Mexico West 2,181,632
10 Virginia ports Virginia East 2,167,396
Source: JOC North American Port Rankings
Business Developments
2018 Chicago Market Top Deals
Chicago Industrial Market | Largest 2018 Lease Transactions
Tenant Size (sf) Location
Whirlpool Corporation 1,001,184 Joliet - Will County
S&S Activewear 750,314 Lockport - Will County
Kellogg's 705,661 Minooka
Berner Food 675,840 Rockford
Home Depot 588,233 Northlake
Chicago Market Largest Active Construction Projects
Chicago Industrial Market | Largest Active Construction Projects
Developer Size (sf) Location
Diageo 1,500,135 Plainfield – Will CountyLFI Real Estate 879,040 Monee - Will CountyCenterPoint Properties 826,755 Joliet - Will CountyUline 815,000 KenoshaPritzker Realty 782,000 West ChicagoClarion Partners/HSA 757,880 Shorewood - Will CountyPrologis 750,314 Lockport - Will CountyLogistics Property Co 748,300 KenoshaPrologis 705,661 MinookaCT Realty Investors 684,320 Romeoville - Will CountyCT Realty Investors 657,540 Romeoville - Will County
New Major Business Developments – 2nd Half 2018Company Building Size City Industry
Diageo 1,500,135 Plainfield Food/Beverage
NFI Industries 992,640 Joliet Consumer Goods
Valspar 604,158 Romeoville Home Goods
Simplicity Creative Group Inc 492,869 Shorewood Consumer Goods
Fairrington Transportation 417,090 Bolingbrook Transportation
RJW Transport 416,504 Romeoville Transportation
Kane is Able 371,994 Lockport Transportation
Old World Industries, LLC 354,400 Bolingbrook Automotive
Exel Logistics 330,269 Romeoville Transportation
FXE Warehouse LLC 299,520 Bolingbrook Transportation
Joliet Cold Storage 230,000 Joliet Food/Beverage
Turano Bakery 192,000 Bolingbrook Food/Beverage
Metropolitan Warehouse 191,400 Lockport Transportation
Mondi Group 171,812 Romeoville Packaging
Great Western Malting Co 125,000 Monee Food/Beverage
Kessler 90,100 University Park Pipe/Tubing
Cadence Pit Stop 77,000 Joliet Automotive
Mission Foods 61,200 Lockport Food/Beverage
Styleline Custom Cabinetry 25,200 Lockport Home Goods
Phoenix Fabrication & Supply 22,325 Peotone Metals Manufacturing
New Major Business Developments – Q1 2019
Company Building Size City IndustryGrainger 408,932 Joliet Industrial SuppliesLennox International 400,393 Romeoville Home GoodsBed Bath & Beyond 361,176 Bolingbrook Home GoodsSaddle Creek 287,709 Elwood TransportationNGL 283,866 New Lenox TransportationSaratoga Specialties 269,662 Bolingbrook Food/BeverageA&R Logistics 250,560 Joliet TransportationNovo Building Products 250,000 Channahon Home GoodsTouchpoint Logistics 206,983 Joliet TransportationSymbia Logistics 206,711 Bolingbrook TransportationAutomann USA Inc 202,582 New Lenox AutomotiveAmazon 153,350 Monee Production/PrintingSwap.com 132,123 Woodridge RetailWeatherTech 110,000 Bolingbrook ManufacturingWC EMA & Animal Control 18,000 Joliet Government Services
Novo Building Products - Channahon
250,000 square feet in new Channahon Route 6 Business Center
Industry leading manufacturer and distributor of mouldings, stair parts, doors, and specialty building products.
Diageo - Plainfield
1.5 million square feet
137 acres
Supports existing 525-job Diageo production facility in Plainfield
Project includes expansion of 143rd
Street west to Ridge Road
NFI/Hasbro - Joliet
Purchase to occupy
992,640 square feet
Silver Oaks Hospital – New Lenox
100-bed facility
Specializes in mental health and substance use disorder treatment
Joint venture between Silver Cross Hospital and US HealthVest
WeatherTech Expansion - Bolingbrook
Expansion of Bolingbrook headquarters
Premier automotive accessories and OEM auto supplier and manufacturer
Supports WeatherTech’s 1500+ employees in Bolingbrook
IDOC Inpatient Treatment Center - Joliet
$150 million investment
180,000 sf, 250-bed facility
400 jobs
Broke ground in 2019, to open in 2021
S&S Activewear - Lockport
750k sf build-to-suit industrial building
350 jobs
Will County headquarters company
Joliet Cold Storage Expansion - Joliet
230,000 sf of additional cold storage space
3rd phase of facility
Cold storage/food demand remains high
Avatar – University Park
New rail spur and expanded service
Will County headquartered company
Leading manufacturer in raw materials and ingredients used in the food, drug, and personal care industries.
Amazon Make-On-Demand Facility – Monee
Make-On-Demand Facility
Amazon’s 6th Will County facility
Up to 400 new jobs (250-300 off-peak)
153k square feet
Open July 2019
Rock Run Crossings - Joliet
Groundbreaking March 2019
Regal Cinemas project announced
IDOT completing phase II engineering for Route 59 interchange
Magid Glove Solar Project - Romeoville
The Midwest’s largest rooftop solar array
3.5 MW of power generated by 10,500 panels
Cadence Pit Stop - Joliet
77,000 sf new facility, expansion of Cadence Premier Logistics footprint
Serving newest technologies in transportation
Additional opportunities for technical training with local schools
Four Seasons - New Lenox
612 single-family residences on the 223.26-acre Teerling Nursery property
12,000 sf clubhouse facility and 1.65 miles of trails
Breaks ground 2019, models open and homes under construction in 2020
Highland Ridge - Lockport
New mixed use development
240 new residential units in 12 buildings
4 commercial lots with space for retail, restaurant, office, medical, hospitality
Transportation Initiatives
State Capital Bill
Will County Transportation Funding Includes:
$848 million for I-80 reconstruction
$162 million for South Suburban Airport I-57Interchange (Budget)
$6 million for Lewis Airport Control Tower
$3 million for Pinnacle Drive Extension in Romeoville
$2.5 million for Brandon Road Locks
$0.8 million for Route 53 Safety Improvements
Major Will County Transportation Projects
• Reconstruction of Interstate 80 (Ridge Road to US Route 30) - Funded
• Reconstruct Interstate 80 and U.S. Rte. 30 Interchange – Under Construction
• Houbolt Interchange & Bridge connecting Interstate 80 with CenterPoint Intermodal Center - Funded
• Reconstruct Interstate 55 and Weber Road Interchange – Under Construction
• Interstate 55 and Illinois Route 159 Interchange Access Project–
Phase 1&2 Engineering Funded
• Reconstruct U.S. Route 6 from Interstate 55 to Houbolt Rd. – No $$
Major Will County Transportation Projects
• Widen Interstate 55 south from I-80 to the County Line – No $$
• Managed Lanes on Interstate 55 from Interstate 355 to Interstate
90/94 – No $$
• Reconstruct Interstate Route 55 south from Weber Road to Interstate
Route 80 – No $$
• Reconstruct Interstate 55 and Lorenzo Road/Illinois Route 129
Interchanges – No $$
• Illiana Expressway connecting I-55, I-57 & I-65 – On Hold
Major Will County Transportation Projects
www.i-80coalition.com
I-80 Coalition – Purpose and Objectives
The purpose of the I-80 Coalition is to accelerate the completion of the “I-80 Project” by the end of 2023. The coalition will accomplish its purpose by:
Engaging a broad group of concerned and interested stakeholders in a grass roots campaign.
Becoming well-informed of all current and possible ways to complete the “I-80 Project”.
Sharing all available information and research with public and private decision makers.
Funding a public information and lobbying initiative to influence a positive decision making pathway to complete the project.
I-80 Project/Study Area
Des Plaines River Bridge
Des Plaines River Bridge Preferred Alternative
New Realigned
Bridges over the
DPR
Existing Bridges
Removed
Houbolt Parkway Extension
What Keeps John Up At Night?
Signs of a softening economy
Global tariff wars and impacts on the regional manufacturing and agriculture sectors
Warren Buffett’s Warning:
“Companies should shy away from making long-term investments in states (like Illinois) that have rung up huge public pension liabilities, because sooner or later taxes will have to go up.”
Lack of a plan to solve the state pension crisis
What Keeps John Up At Night?
“Escape from Illinois” horror movie – young people fleeing the state
Answering the “where will I get my workers?” question
Corn/soy bean planting
Lock closures due to flooding
2020 lock closures due to repairs
What Keeps John Up At Night?
• Watching the housing boom in Lake County, Indiana
• Water Supply – where did it go, who knew, and when did they know it?
• A bridge on I-80 or I-55 being closed (or failing!!)
• Why can’t we recruit an Olive Garden to Joliet?
• Why aren’t more companies benefitting from Will County’s growth investors in the CED?
What Keeps John Up At Night?
What Keeps John Up At Night?
What Keeps John Asleep At Night?
What Keeps John Asleep At Night?
• Working for one of the best Economic Development organizations in the Country – The CED
• Having a tremendous staff at the CED – a big reason for our success!
• WILL COUNTY leading the region in new job creation, industrial development and business expansion
What Keeps John Asleep At Night?
• Private sector investment confidence in the local economy
• Strong local and county government leadership that balances budgets and invests in the future
• Will County as a dynamic place to live, work and play
• The quality of health care, education, recreational facilities and community services makes WILL COUNTY one of the best places for businesses and people in the Midwest.
What Keeps John Asleep At Night? ReBuild Illinois $$$$$$$
• Funding commitment from the state to rebuild I-80 and replace the Des Plaines River bridges!
• Funding for the Air Traffic Control Tower at Lewis University Airport to safely land John’s Learjet.
What Keeps John Asleep At Night?
• Funding to study how to stop the Asian Carpat Brandon Locks
CED Carp Committee
• Increased funding for our colleges and universities to provide education, training and lifelong learning opportunities for our labor force.
What Keeps John Asleep At Night?
Thank you!
CED Board Members and INVESTORS like you that support our Mission!!
Please plan to see us at our upcoming events:
Economic Development Boot CampJuly 17th
Village of Frankfort
Annual Report to InvestorsDecember 6th
Clarion Hotel - Joliet