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