Suburban business leaders express optimism about 2015

The Route 53 extension, investing in our workforce and what a new governor will mean to Lake County were key topics addressed Thursday at a business outlook forum.

The Daily Herald Business Ledger, in partnership with the GLMV Chamber of Commerce, presented Business Outlook 2015 at Doubletree by Hilton in Mundelein. More than 100 business leaders attended the event, the first forum of its kind to be held in Lake County.

Sharing their views on what to expect as we head into 2015 were Lake County Board Chairman Aaron Lawlor; Greg Pinter, executive vice president with Lake Forest Bank & Trust, a Wintrust Community Bank; and Robert "Bo" Steiner of the U.S. Small Business Administration.

"We have a lot of businesses trying to remain lean and efficient because of uncertainty in the economy," Pinter said. He added that businesses are optimistic about Gov.-elect Bruce Rauner and that they are trying to "survive and thrive."

Pinter said the auto and health care industries are doing well, pointing especially to long-term care health facilities.

In real estate, he said multifamily is hot right now while the condo market is tight. "Housing is still soft and we are seeing drops in mortgage applications," he said. He added that competition is common in the banking industry, and that consolidation will continue.

Meanwhile, Lawlor addressed how it is critical to invest in the workforce, adding that it's a positive sign that Lake County's labor participation rate is going up.

"It takes a village," he said, pointing to a recent meeting between Mundelein High School and Medline. "The high schools and even middle schools have to look at the needs of the employers."

Lawlor said one of the hottest topics in the county now is the proposed extension of Route 53. "We are much further ahead on this than ever before," he said.

And Steiner from the SBA said he is optimistic as we move toward the new year. The trends that he sees for small business are "how we look at the supply chain, financing and the Affordable Care Act."

Lawlor also expressed optimism about the year ahead. "A key factor is that people are spending again," he said.

He noted a strong recovery in foreclosures and that building permits are showing a "nice recovery" in Lake County.

Business leaders who attended the event said they found the information helpful.

"The speakers were informative," said Dale Perrin, executive director of the Lake Zurich Chamber of Commerce. "I'm thrilled that it was held here in Lake County."

Sponsors for the event include Wintrust Commercial Banking, American Slide Chart/Perrygraf, Lake County Partners and AM 560 The Answer.