What's Happening?
Lake County has experienced a significant surge in business investments, with companies investing $633 million in capital projects in 2025. This marks the largest annual investment in the county's history,
contributing to a five-year total of $1.83 billion. The growth is largely driven by expansions in manufacturing, pharmaceuticals, and high-tech plastics sectors. Notable contributions include Fortune Brands' expansion in Deerfield and AbbVie's $195 million plant in North Chicago. The county's GDP grew by 3.2%, surpassing national estimates. Lake County was also recognized as one of the top 10 counties in the U.S. for job creation and industry expansion.
Why It's Important?
The substantial investment in Lake County underscores its growing economic significance and attractiveness to major corporations. This growth not only boosts local employment, with 862 new jobs created and 1,333 retained, but also enhances the county's economic resilience. The influx of capital and expansion of industries like pharmaceuticals and manufacturing position Lake County as a key player in these sectors. The recognition by Site Selection Magazine further elevates its profile, potentially attracting more businesses and investments, thereby strengthening the local economy and providing more opportunities for residents.
What's Next?
With the ongoing investments and expansions, Lake County is poised for continued economic growth. The focus will likely remain on supporting the manufacturing and pharmaceutical sectors, which are key drivers of the county's economy. The local government and business development organizations may continue to foster a conducive environment for business growth, leveraging the county's strategic location and skilled workforce. Future developments could include further expansions by existing companies and new investments from other sectors seeking to capitalize on the county's economic momentum.
