What's Happening?
Lake County has experienced a significant surge in business investment, with companies investing $633 million in capital projects in 2025, marking the largest annual investment in the county's history. Over the past five years, a total of $1.83 billion has been spent on building and improving facilities. This growth is largely attributed to the efforts of Lake County Partners, a not-for-profit business development organization, which reported that the county's capital investment exceeded $1 billion for the first time in 2023. Key contributors to this growth include major expansions by companies such as Fortune Brands and AbbVie. Fortune Brands expanded its Deerfield headquarters, while AbbVie announced a $195 million plant in North Chicago.
The county also saw the creation of 862 new jobs and the retention of 1,333 jobs, contributing to a 3.2% GDP growth, outpacing the national average.
Why It's Important?
The substantial investment in Lake County underscores its growing appeal as a business hub, particularly in sectors like pharmaceuticals, metal devices, and high-tech plastics. This economic boom not only enhances the local job market but also strengthens the county's position as a competitive location for business expansion. The influx of capital and job creation is likely to have a positive ripple effect on the local economy, increasing demand for housing, services, and infrastructure. Additionally, the county's recognition as one of the top 10 counties in the U.S. for job creation and industry expansion highlights its strategic advantages, such as proximity to Chicago and a highly educated workforce. This growth trajectory could attract further investments and bolster the county's economic resilience.
What's Next?
Looking ahead, Lake County is poised to continue its upward economic trend. The ongoing expansions by major companies and the development of new facilities suggest sustained job growth and economic activity. The county's focus on developing a skilled workforce through partnerships with local educational institutions and businesses will be crucial in meeting the demands of expanding industries. As more companies recognize the benefits of operating in Lake County, further investments in infrastructure and community development are anticipated. This could lead to enhanced public services and improved quality of life for residents, making the county an even more attractive place for businesses and families alike.
