Project would have far-reaching benefits

As we all know, the nation is currently experiencing an economic downturn. Despite the current conditions, Lake County has an economic opportunity that will create an estimated 9,800 jobs for our area. The project, which would be located in Grayslake at Route 83 and Peterson Road, will generate new economic activity when construction begins and, at build out, new economic revenue from the project is projected to have a value of $2.3 billion annually.

The proposed project is called Cornerstone of Grayslake and it will include the development, over a 12-year period, of 3.5 million square feet of office, light industrial, and research and development facilities, and about 635,000 square feet of quality retail space. The construction of the development will generate $54.7 million in surplus revenues for three area school districts during the 12-year development period and millions of dollars more annually thereafter. The project will contribute financially to the construction of millions of dollars in road improvements.

This is a truly unique opportunity. In these economic times and for the future benefit of all of Lake County, we need to seize this opportunity by providing the needed approvals and show unequivocal support so this economic expansion project can move forward. > >

Phil Harris

Chairman

Grayslake Economic Development Commission