World Business Chicago celebrates regional economic development with the seven county partners who together make up the Great Chicagoland Economic Partnership
World Business Chicago celebrates regional economic development with the seven county partners who together make up the Great Chicagoland Economic Partnership

Kane County Revs Up the Engine on Economic Development

Kane County Connects Staff 3/6/2023 8:00AM

Kane County is the only large county in a 100-mile radius of itself without an economic development organization - but that’s about to change.

Kane County is about to embark on two economic development initiatives; a countywide organization for economic planning and a regional partnership to attract national and international markets. The goal for both is to identify economic needs and foster cooperation to maximize use of resources and outreach when attracting businesses and industries to Kane County.

The County has received funding for the first initiative to create a public/private organization that would centralize efforts to bring new opportunities for growth, additional sources of tax revenue and job creation for its 30 municipalities. Organizations such as these are vital to promote, attract and retain businesses to keep the area economy competitive and sustainable. Currently, five of those communities (Aurora, Elgin, South Elgin, Montgomery and Sugar Grove) have local economic development organizations that have gone it alone to work on the initiatives the larger organization would contribution to.

Tony Luncenko, Director of Elgin Development Group, said during a meeting of the Kane County Committee of the Whole, they have been implementing several of the initiatives outlined by the County, but would welcome and are fully supportive of a countywide economic development organization. “We are behind the eight ball. We are the only county left without a countywide economic development organization and we could use your help.” said Luncenko

The acting President/CEO of Invest Aurora, Loretta Daly, echoed the support for a countywide organization focused on economic development pointing to the importance of regional planning. “Seeing Kane County step to the plate, wanting to create an economic development organization for the entire County is more than a step in the right direction and is something we in Aurora would whole heartedly support,” said Daly.

Another regional opportunity Kane County is joining is the newly created Greater Chicagoland Economic Partnership (GCEP) that brings together a seven-county region and the city of Chicago. The partners are charged with coordinating a global identity which will market Kane County and other regional partners in national and international markets as a place to grow a business.

Greg Bedalov President and CEO of Choose DuPage, indicated there is a great need for the Chicago region to come together. “Of all the regions of significant size in the U.S., Chicago was the slowest to recovery post pandemic and punched below its weight? for longer than any other region,” said Bedalov. “One of the primary reasons is because we work in silos from an economic development perspective. The creation of the GCEP is designed to tear down those silos.”

Both of these endeavors are expected to give Kane County high impact with maximum efficiencies when it comes to economic development today, tomorrow and years into the future.

For more details, you are encouraged to take the time to watch the lively and informational presentation CLICK HERE on the initiatives Kane County is leading when it comes to changing the direction on economic development.

Tags: Around Town Business Community Economy Education Featured
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