Elgin a nexus of small and large companies creating a dynamic economic ecosystem
The Elgin Development Group (EDG), a division of the Elgin Area Chamber of Commerce, in partnership with the city of Elgin, is the economic development organization that helps existing business grow, attracts new businesses, and assists entrepreneurs.
“Whether encompassing entrepreneurs, startup businesses, minority or women-owned, veterans or disabled individuals, medium, or long-standing large businesses, the EDG is the concierge for business and prepared to provide the needed resources to meet the needs,” said Tony Lucenko, group director.
“Through our extensive network of partners such as Elgin Community College, Judson University, Fox Valley SCORE, Small Business Development Center, Gail Borden Public Library, and others, Elgin has the ability to channel our efforts for the betterment of the entire community,” Lucenko said.
The EDG directly supports the strategic priorities of the city of Elgin by providing new and existing business support, aligning the workforce for tomorrow’s jobs, improving the transportation network, and providing an enhanced quality of life.
The city of Elgin is the sixth-largest community in Illinois with a population of 114,000 people and a diversity of businesses ranging from the owner working out of their home to family-owned restaurants to multibillion-dollar corporations. A vibrant community with a rich history, the coexistence of small and large companies in the city creates a dynamic economic ecosystem, where innovation and tradition intertwine.
EDG had identified Elgin’s four largest sectors as manufacturing, health care, education, and professional services. Home to thousands of businesses, Elgin prides itself on having a long tradition of supplying an educated and skilled workforce to long-standing companies such as Middleby Marshall, Motorola Solutions, Chase Card Services and Elgin Sweeper Company. Advocate Sherman Hospital and Ascension Saint Joseph Hospital are excellent health care providers that also serve as an economic engine to the area.
Elgin’s growth has come as a result of many businesses discovering the advantages of doing business in Elgin, as existing businesses continue to flourish. Our skilled workforce and location gives us an advantage that businesses are looking for when hiring.
EDG collaborates with the city, educational institutions including Elgin Area School District U-46, community organizations, and businesses on workforce development. These strategic partnerships focus on preparing the next generation of workers through targeted training programs, educational initiatives and apprenticeships. By aligning the skills of the workforce with the needs of our local businesses, Elgin ensures a constant flow of employees into available jobs.
The demand for commercial space has been tremendous in recent years as new retailers and industries continue to covet the area. EDG conducts a regular analysis of vacancy rates with industrial and retail vacancy rates near historic lows as people and developers continue to buy properties and build new commercial ventures. Elgin experienced some 3 million square feet of new construction in the last few years that has brought with it the growth of a number of new businesses, workers, tax revenues, and people.
“Elgin small businesses are the backbone of our local economy and entrepreneurs have fueled growth,” said Carol Gieske, president and CEO of the Elgin Area Chamber of Commerce. “Our diversity in businesses and demographics has helped Elgin create a portfolio that is resilient to swings in the economy,” she says.
Elgin historically has been a center for business for more than 100 years. The proximity to O’Hare International Airport, major transportation systems like I-90, and skilled workforce are the perfect blend to sustain Elgin into the future.
The community works well together, has a thriving arts scene, is home to the Elgin Symphony Orchestra, enjoys many festivals, and an excellent quality of life.
Economic development in Elgin has been as much about business as it has been about the people. Elgin is known as the “City in the Suburbs” because it has built itself on offering anything anyone would ever need without ever having to leave the community, such as an education, career path, recreational opportunities, and health care.
• Tony Lucenko is director of the Elgin Development Group.