McHenry development group receives magazine honor

The McHenry County Economic Development Corp. has been named one of the nation's top 20 economic development groups of 2007 by the industry publication Site Selection, officials announced Monday.

The group earned the distinction with a 2007 performance that included its participation in 17 corporate facility projects representing $92 million in capital investment and 1,702 new jobs, said Ron Starner, director of publications and general manager of Site Selection publisher Conway Data.

The ranking is the result of an evaluation that considers total capital investment, number of jobs created, value of jobs created, regional impact and competition for the project to locate elsewhere, among other factors.

The organization received an Honorable Mention designation for its 2007 efforts, placing it among the 10 groups just outside the publication's top 10 of the year.

"This says a lot about McHenry County and its dynamic local economy and proactive collaborative efforts," organization President Walter Packard said.

World Business Chicago was the only other Illinois-based organization to appear in the top 20.

The organization is a private-public advocacy group that works to attract new business and investment to the county as well as helps existing businesses to remain and expand.