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Economic Outlook Luncheon 2016

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How much will the U.S. economy grow during 2016? Will inflation increase or decrease? What will happen to the unemployment rate? How did the economy perform in 2015 and what factors caused it to perform the way it did? What do these trends and predictions mean for your business and community?

These questions and more will be addressed by Federal Reserve Bank Senior Economist Bill Strauss at DCEDC’s 2016 Economy Outlook Luncheon. The event will be held at Faranda’s Banquet and Conference Center from 11:00 am to 1:00 pm on Thursday, March 17.

Strauss is particularly qualified to evaluate trends and forecast economic performance because he organizes the Fed’s Economic Outlook Symposium and Automotive Outlook Symposium each year while analyzing the performance of both the Midwest economy and the manufacturing sector. In addition, he conducts industrial and manufacturing roundtables throughout the year.

Last year, Strauss projected that employment would grow moderately while unemployment would decrease. Inflation would be restrained while manufacturing growth would be above trend, including buying equipment and building facilities in order to produce more. These forecasts came to fruition in DeKalb County which logged significant industrial expansion during 2015.

The annual Economic Outlook Luncheon is one of the most well-attended business events of the year. DCEDC members interested in sponsoring may contact Karen Hoyle via email hoyle@dcedc.org, or by phone @ 815-895-2711. Online reservations for the event are accepted now through March 10th at http://dcedc.org/events.

 

DeKalb Target Distribution Center to More Than Double Employment by Spring

Employment at the DeKalb Target Corporation Distribution Center (located at 1111 Macom Drive) is set to more than double by May 2016, according to company officials, when the facility undergoes a $50 million transformation into an Upstream Distribution Center (UDC). The UDC will specialize in the distribution of difficult-to-forecast merchandise and serve one-third of Target locations within the United States. Current employment at the facility is approximately 350 individuals, but the expansion is expected to increase employment at the facility to 800+. This April/May, the company will be hiring for a variety of positions with competitive wages: warehouse workers, powered equipment operators, operations team members (packaging/shipping), mechanics, clerical, and leadership.

Please visit http://www.Target.com/careers for hiring information.

For additional details, please read the Daily Chronicle article: Target to more than double its workforce by May

DeKalb County Enterprise Zone CERTIFIED

Per a resolution from Director Jim Schultz of the Illinois Department of Commerce & Economic Opportunity (DCEO), the DeKalb County Enterprise Zone HAS BEEN CERTIFIED as of 12/17/15. As designated Zone Administrator, the DeKalb County Economic Development Corporation will work with DCEO and the Illinois Department of Revenue to establish administrative procedures for operating the Zone and qualifying beneficiaries. Further information about Zone administration will be posted on this website in January under our “Site Selectors” drop down menu or by clicking here.

For further information or questions, please contact DCEDC Executive Director Paul Borek.

Construction Update on the New 3M Distribution Center

Construction continues on the new $40 million 3M distribution center in Park 88 by Venture One Real Estate and Clayco. Recent progress includes pouring of the foundation and installation of concrete wall panels. When complete, this 987,000 sq. ft. project will bring 3M’s total development in the City of DeKalb to 2.5 million sq. ft.

NEW Commercial/Industrial Property Listings Fee Schedule and Submission Procedure

Effective January 4, 2016, DCEDC will implement a fee schedule for industrial and commercial property listings on our website.

DCEDC Members:
$0.00 charge per listing, per year.
$0.00 charge for Change/Update to the listing.

Non-Member:
$25.00 charge, per listing, per year.
$10.00 charge for Change/Update to the listing, each occurrence.

NEW Listing Procedure Information: All property listings and future listing changes will be submitted online to streamline our listings move to our LocationOne online property database. We thank you in advance for your patience and assistance with this transition. This move will improve the overall property search experience. The old listings page is no longer available. Please visit “Available Sites & Buildings” under our “Site Selectors” dropdown menu to find the new forms and LocationOne databases.

If you have questions, please contact us.

Business Expansion/Visitation Program

DCEDC is conducting a Business Retention/Expansion Visitation Program with the help of ComEd and the Illinois Manufacturing Excellence Center (IMEC) designed to support local industry and to improve the business environment throughout the county.  Our goal is to learn what it will take to retain, nurture and expand DeKalb County businesses.  The program involves visits to local firms, where we will conduct interviews to identify concerns, needs and opportunities.  A proven survey tool will be used to organize information gathered.  Our specific objectives are to:

  1. Learn about the strengths and weaknesses of the local business environment.
  2. Identify and react to business expansion opportunities and retention threats.
  3. Communicate available business development resources.
  4. Enhance communication between businesses and local leaders.

All of the information shared, is considered strictly confidential.  Visits will begin in June and conclude in early 2015.  It is our hope that we will have 60 appointments secured with at least 50 completed surveys.  If you are interested in helping DCEDC or participating, please contact us at 815-895-2711, or by email to:  borek@dcedc.org or hoyle@dcedc.org. To see ComEd’s Fact Sheet for June 2015: “Electricity Attributes Enhance the Illinois Business Climate” click here.

Why DeKalb County?

The competitive advantages of DeKalb County are recognized by industry. During the past three years, 19 industrial firms relocated to, or expanded in DeKalb County. In 2010, the county accounted for 28% of all industrial development that occurred in the Chicago Metro Area, while representing only 1% of the region’s population. To learn why you should invest in DeKalb County click here.

DCEDC Initiatives

Manufacturing and Industry Employers: Take Advantage of Workforce Training and Career Development Programs

Wanted: Manufacturers to Guide/Benefit from Skills Training – Accelerated training in Welding, Safety, CNC, Logistics and Mechatronics (Equipment Service and Repair) will being provided to 133 workforce candidates in DeKalb and surrounding counties.

Safety/Sustainability Training and Consulting Services are available free-of-charge to companies with 100 or fewer employees.

Industrial Career Development – The DeKalb Ogle County Industrial Workforce Consortium’s Industrial Workforce Coordination Pilot Program is off to a great start.

Click Here to learn more about these opportunities to enhance your workforce.

Contributor Benefits

  • Reduced rates to attend DCEDC Events

  • Sponsor opportunities to market your business @ select events

  • Self-Managed company profile on the dcedc website

  • Listed in select print materials

  • Listing on the DCEDC Website

  • Eligible to participate in social media channel promotions

  • Access to event presentation materials

  • No Charge for Members to list Commercial or Industrial Real Estate Sites and Buildings under our available Inventory

  • Invitation to attend DCEDC’s Annual Business Meeting Luncheon

  • Contributions to DCEDC are eligible to be tax deductible*

  • Supporting  DCEDC’s public/private partnership will further enable us to retain/expand existing business and industry, and attract sustainable and diversified economic growth in DeKalb County.