Expert: Grants, tax breaks could lure millennials to Lake County
A demographics expert on Friday told a large crowd of Lake County business representatives and elected officials that property-tax breaks and college grants are among the tools they can use to attract talented young people to the region.
Matt Carmichael also suggested apartment or condominium developments built near retail shops and commuter train stations also can lure members of the millennial generation to Lake County.
Carmichael was the keynote speaker at the Big Event, an annual gathering organized by the Lake County Partners economic development group. About 500 people attended the get-together at the Lincolnshire Marriott Resort.
Carmichael spent much of his presentation talking about ways to lure millennials to Lake County.
He suggested communities consider covering a new homeowner's first property-tax bill if they want to attract young residents. He also said communities could offer college grants that would require recipients to live in the town after graduation as a way to keep talented young people from moving away.
Carmichael, of Oak Park, said that town's efforts to build residential towers near amenities and commuter train stations could be duplicated elsewhere. Mundelein is among the Lake County towns already making such plans.
"Lake County has what they are looking for," Carmichael said of millennials. "Give them a reason for coming here."