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Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members<br />Welcome<br />to the <br...
Ingredients for Organizational Success<br />Enhancing Economic Vitality    Advocating for Business     Creating Opportunit...
Our Mission<br />Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members<br />
Chamber Board of Directors<br />Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Memb...
Chamber Staff<br />Jeanette Mihalec, <br />Vice President<br />Membership<br />Leo Nelson, President<br />Michael O’Kelley...
Board of Directors<br />Executive Committee<br />Governance Committee<br />Elgin Development Group<br />Ambassador Club<br...
X-Factor<br />Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members<br />
Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members<br />Thanks to our Volunteer...
Class Exercise<br />Choosing a U.S. location<br />
Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members<br />Partnership Goals:<br /...
Improve the quality of life and standard of living for Elgin residents
Create a diverse and vibrant local economy
Generate desirable employment opportunities</li></li></ul><li>Elgin Development Group<br />Key Initiatives<br /><ul><li>Bu...
Enhancing Elgin
Transportation & Development
Workforce Development</li></li></ul><li>Business Retention, Recruitment &  Expansion<br />Staying in touch and reaching ou...
Enhancing Elgin<br />Proclaiming the positive aspects and quality of life in the Elgin area through an image and branding ...
Transportation & Development<br />Transportation<br />Focusing on critical land use and transportation issues as the Elgin...
Workforce Development<br />Fostering communication between business, government and educational entities to help build a d...
Elgin Development Group<br />Key Initiatives<br /><ul><li>Business Retention, Recruitment </li></ul>	and Expansion<br /><u...
Transportation & Development
Workforce Development</li></li></ul><li>The American Workforce:  Our Hopes, Our Voice, Our Future<br />The Elgin Story<br ...
Changes in Workforce Skills Needs Across Fifty Years<br />Unskilled<br />12%<br />Skilled<br />20%<br />Professional<br />...
Do we have a skilled workforce to compete globally?<br />Government<br />Business & Industry<br />Education<br />Developin...
Community Support to Workforce Development<br />City of Elgin <br />Chamber of<br />Commerce<br />Illinois Dept. of  Emplo...
Creating Commonality<br />Speaking the same language<br />Uniform Goals<br />Eliminate Redundancy<br />Understanding and D...
Identifying, Measuring and Improving Workforce Skills <br />for the Jobs of the Future<br />Workkeys is a registered trade...
WorkKeys® Skill Areas<br /><ul><li>Reading for Information*
Applied Mathematics*
Locating Information*
Applied Technology
Teamwork
Observation
Listening
Writing
Business Writing</li></ul>* 85% of ALL occupations utilize there skills<br />
TM<br />2009<br />
National Career Readiness Certificate <br />Levels & Employability<br />Core employability skills for approximately 30% of...
How Does It Work?<br />College Ready/Workforce Ready<br />Redirecting the unemployed<br />Improving the incumbents<br />
WorkKeys Identifies Skill Gaps<br /><ul><li>By comparing the job and individual profiles, the skills gap can be identified...
KeyTrain Helps to Fill Skill Gaps<br />KeyTrain provides self-paced curriculum to help individuals fill their skill gaps<b...
Many new hires have no experience<br />Hundreds of hours of training required<br />Investment in new hires is significant<...
Basic math skills (measurement, metric conversion, weights, dimensions)<br />Ability to follow written instruction<br />Lo...
Current internal testing consumes time, resources, and is costly to buy and administer<br />The NCRC eliminates and replac...
Going Forward<br />Local Initiatives<br />EAC Workforce Development Committee<br />1,000 Skilled Workers<br />ECC Key Trai...
The Future in Illinois<br />Illinois NCRC Alliance<br />Group of Educators, Employers, Government, and WIB representatives...
How do I get involved?<br />Recognizing the NCRC<br />Understanding your company needs<br />Profiling<br />Testing in othe...
Elgin Development Group<br />Key Initiatives<br /><ul><li>Business Retention,  Recruitment & Expansion
Enhancing Elgin
Transportation & Development
Workforce Development</li></li></ul><li>Visit at the Siemen’s Wind Turbine Plant in Elgin, IL<br />
Business Retention & Recruitment Committee<br />Mission: Retain, facilitate expansion and attract businesses to the Elgin ...
Survey the Elgin business community to identify concerns /challenges and gauge overall sentiment<br />
Foster relationships with brokers and site selectors in order to promote the benefits of an Elgin location<br />
Quickly establish “hot buttons” for companies considering Elgin and address these factors in order of priority.  Site sele...
Labor
Real estate inventory
Access to expressways
Incentives
Proximity to residential areas</li></li></ul><li>Provide introductions to assist company and broker/site selectors with th...
Enhance communication amongst corporations of similar origins (i.e. German, Japanese, etc)<br />
Keys to the Committee’s Success<br />Low municipal and county taxes<br />Access to expressways<br />Strong and diversified...
Elgin Development Group<br />Key Initiatives<br /><ul><li>Business Retention, Recruitment </li></ul>	and Expansion<br /><u...
Transportation & Development
Workforce Development</li></li></ul><li>4Q10<br />© Copyright Metrostudy 2011<br />
4Q10<br />Source:  Bureau of Labor Statistics<br />© Copyright Metrostudy 2011<br />National EconomyU.S. Total Employed - ...
4Q10<br />Source:  Bureau of Labor Statistics<br />© Copyright Metrostudy 2011<br />National EconomyU.S. Total Employed - ...
National Economy<br />National Single-Family Permits - Annual Trend<br />4Q10<br />Source:  U.S. Census Bureau<br />© Copy...
National Economy<br />U.S. Housing Production - Year by Year Totals (SF & MF)<br />4Q10<br />Source:  U.S. Census Bureau<b...
National Economy<br />U.S. Housing Production - Year by Year Totals (Single-Family only)<br />4Q10<br />Source:  U.S. Cens...
National Economy<br />Housing Market - Top Ten States Ranked by Single Family Permits<br />Illinois @ #19 with 8,052 SF Pe...
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Elgin Area Chamber / Development Group

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Presentation to Elgin Area Leadership Academy February 2011

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Transcript of "Elgin Area Chamber / Development Group"

  1. 1. Enhancing Economic Vitality Advocating for Business Creating Opportunities for Members<br />Welcome<br />to the <br />Elgin Area <br />Leadership Academy <br />Economic Development Session<br />February 5, 2011<br />
  2. 2. Ingredients for Organizational Success<br />Enhancing Economic Vitality Advocating for Business Creating Opportunities for Members<br />
  3. 3. Our Mission<br />Enhancing Economic Vitality Advocating for Business Creating Opportunities for Members<br />
  4. 4. Chamber Board of Directors<br />Enhancing Economic Vitality Advocating for Business Creating Opportunities for Members<br />Executive Committee<br /> John Hurlbut, Hurlbut & Hurlbut P.C. Chair of the Board<br />  Michael Shales, Shales McNutt, LLC Chair Elect of the Board<br /> Susan Angell-Case, Baird and Warner Vice Chair of Membership<br /> Mary Martini, Sherman Hospital Treasurer<br /> Michael McKay, Edward Jones Investments Immediate Past Chair of the Board<br /> Leo Nelson, Elgin Area Chamber Secretary<br />Board of Directors Larry Dry, Provena Saint Joseph Hospital  <br /> Charles Falls, Demi & Cooper Advertising  <br /> Kim Gilmore, Gilmore Marketing Concepts Inc.<br /> Patrick Hayes, Fabric Images Inc.<br /> Tonya Hudson, Downtown Neighborhood Association<br /> Chris Huecksteadt, MetroStudy  <br /> Dale Lonis, Elgin Symphony Orchestra<br /> Todd Olsen, National City Bank  <br /> Dave Rock, IHC Construction Companies, LLC  <br /> Dr. David Sam, Elgin Community College  <br /> Eric Smith, Hoffer Plastics Corporation<br /> Jack Sorenson, U.S. Shelter, LLC<br /> Sean Stegall, City of Elgin<br /> Pat Szpekowski, PmS advertising, inc.  <br /> Jim Thomason, Grand Victoria Casino  <br /> Dr. Jose’ Torres, School District U-46  <br /> Mary Catherine Walsh, Cuisine America Inc. Catered Events  Jennifer Whiteside, Chase Card Services<br />
  5. 5. Chamber Staff<br />Jeanette Mihalec, <br />Vice President<br />Membership<br />Leo Nelson, President<br />Michael O’Kelley<br />Vice President<br />Economic Development<br />Terry Gajewski,<br />Vice President <br />Finance/Information Systems <br />Catherine Smith<br />Administrative Assistant        <br />Carol Gieske,<br />Vice President<br />Communications and Special Events<br />Pat Tindle <br />Administrative Coordinator<br />Bob Malm <br />Challenge 21<br />Campaign Director <br />
  6. 6. Board of Directors<br />Executive Committee<br />Governance Committee<br />Elgin Development Group<br />Ambassador Club<br />Elgin Area Leadership Academy<br />Golf Committee<br />Hablamos Español Expo Committee<br />Retention Committee<br /> President’s Council<br /> Business Retention/Recruitment Committee<br /> Workforce Development Committee<br /> Enhancing Elgin Committee<br />Transportation Committee<br />Enhancing Economic Vitality Advocating for Business Creating Opportunities for Members<br />MembershipCouncil<br />
  7. 7. X-Factor<br />Enhancing Economic Vitality Advocating for Business Creating Opportunities for Members<br />
  8. 8. Enhancing Economic Vitality Advocating for Business Creating Opportunities for Members<br />Thanks to our Volunteers!We appreciate their contribution of time and expertise to help us to serve the business community.<br />Paula Amenta<br />Susan Angell-Case<br />Patty Arroyo<br />Dawn Ashley<br />David Bear<br />Mark Billings<br />Kimberly Bless<br />Jackie Bolger<br />Lynne Bosley<br />Kelly Brown<br />Charles Cassell<br />John Cassidy<br />Diane Cooper<br />Fred Coppes<br />Wendy Covich<br />Scott Damisch<br />Jerry Deering<br />Nidia Delgado<br />Carol DePue<br />Tom Devona<br />Larry Dry<br />Mary Dulabaum<br />Jim Durante<br />Dale Dwyer<br />Nathaniel Edmond<br />Jerry Edwards<br />David Essex<br />Charles Falls<br />Kathy Fester<br />Brian Fletcher<br />Joe Follrath<br />Dan Fox<br />Kenneth Franzese<br />Michael Frisco<br />Jaime Garcia<br />Heather Gates<br />Nancy Gentile<br />Marie Gildersleeve<br />Kim Gilmore<br />Donna Grimmett<br />Gordon Gromer<br />Peggy Gundrum<br />Karla Guzman<br />Pat Hayes<br />Sofia Hedberg<br />James Hills<br />Richard Hitchcock<br />William Hoffer<br />Christopher Huecksteadt<br />Cathy Hurlbut<br />Richard Jakle<br />Rise Jones<br />Thomas Kallay<br />David Kaptain<br />William Karsten<br />John Katzenbach<br />Barb Keselica<br />Jay Kilgore<br />Barbara Kininmonth<br />Carolyn Kirk-Likou<br />Ginger Knapp<br />Cynthia Kolich<br />Bill Kowalski<br />Rich Kruth<br />Demetrius Kyles<br />Ian Lamp<br />Dale Lonis<br />Tonya Lucchetti-Hudson<br />Roy Lukowski<br />Mary Martini<br />Mark Mastrorocco<br />Jorge Mauricio<br />Michael McKay<br />Tina Mengel<br />Deborah Miller<br />Javier Montoya<br />Susan Moylan<br />Steve Munson<br />Cherie Murphy<br />Michael Murschel<br />Simon Nussbaum<br />Diane O'Connor<br />Susan Olafson<br />Todd Olsen<br />David Patzelt<br />Lee Plasmier<br />Chris Priester<br />John Prigge<br />Sharon Prizy<br />Denise Raleigh<br />Tracy Ramsay McDonnell<br />Toya Randall<br />Scott Reining<br />Mark Richards<br />Thomas Rickert<br />Mary Robb<br />Richard Robinson<br />Dave Rock<br />Krisilee Rothaug<br />Sara Sabo<br />David Sam<br />Pam Saylor<br />George Schober<br />Edward Schock<br />Aaron Sellers<br />Jack Shales<br />Dana Slattery<br />AJ Smith<br />Michael Sobel<br />Jerry Sorensen<br />Jack Sorenson<br />John Steffen<br />Sean Stegall<br />Mary Ann Stephens<br />David Strahl<br />Steve Super<br />Pat Szpekowski<br />Jim Thomason<br />Steve Thoren<br />Jose Torres<br />Jackie Tredup<br />Jacquie Vinz<br />Mary Catherine Walsh<br />
  9. 9. Class Exercise<br />Choosing a U.S. location<br />
  10. 10. Enhancing Economic Vitality Advocating for Business Creating Opportunities for Members<br />Partnership Goals:<br /><ul><li>Provide a solid tax base to support quality municipal and educational goals
  11. 11. Improve the quality of life and standard of living for Elgin residents
  12. 12. Create a diverse and vibrant local economy
  13. 13. Generate desirable employment opportunities</li></li></ul><li>Elgin Development Group<br />Key Initiatives<br /><ul><li>Business Retention, Recruitment & Expansion
  14. 14. Enhancing Elgin
  15. 15. Transportation & Development
  16. 16. Workforce Development</li></li></ul><li>Business Retention, Recruitment & Expansion<br />Staying in touch and reaching out to businesses through retention surveys<br />Hosting round tables with opportunities for networking and meeting with government & education officials<br />Encouraging exporting and trade as ways to expand business<br />Promoting the Elgin area as a preferred business location<br />Bringing in new businesses – creating jobs and investments <br />in land, buildings and equipment<br />Targeting retail development for shopping convenience and to capture sales tax revenue<br />
  17. 17. Enhancing Elgin<br />Proclaiming the positive aspects and quality of life in the Elgin area through an image and branding campaign.<br />
  18. 18. Transportation & Development<br />Transportation<br />Focusing on critical land use and transportation issues as the Elgin area continues to grow and prosper<br />Working with government officials to improve the existing roadway system<br />Exploring new strategic transportation corridors in the western growth area<br />
  19. 19. Workforce Development<br />Fostering communication between business, government and educational entities to help build a diverse and technologically talented workforce<br />Enhancing workforce quality through skill building in partnership with Elgin Community College<br />Developing stronger school/business partnerships to improve the skill set of entry level workers<br />Continuing to implement WorkKeys® – a national career readiness certification program<br />
  20. 20. Elgin Development Group<br />Key Initiatives<br /><ul><li>Business Retention, Recruitment </li></ul> and Expansion<br /><ul><li>Enhancing Elgin
  21. 21. Transportation & Development
  22. 22. Workforce Development</li></li></ul><li>The American Workforce: Our Hopes, Our Voice, Our Future<br />The Elgin Story<br />A community involved………………..<br />
  23. 23. Changes in Workforce Skills Needs Across Fifty Years<br />Unskilled<br />12%<br />Skilled<br />20%<br />Professional<br />20%<br />Skilled<br />68%<br />Unskilled<br />60%<br />Professional<br />20%<br />1955<br />2005<br />
  24. 24. Do we have a skilled workforce to compete globally?<br />Government<br />Business & Industry<br />Education<br />Developing Strategy<br />
  25. 25. Community Support to Workforce Development<br />City of Elgin <br />Chamber of<br />Commerce<br />Illinois Dept. of Employment Security<br />Elgin <br />Community College<br />Kane County<br />Department of<br />Employment & Education/<br />WIB<br />U-46 Sch Dist<br />Career & <br />Technical Guidance<br />Workforce<br />Grand <br />Victoria Foundation<br />Pace Bus <br />UnitedWay<br />Business & Manufacturing<br />Centro de Informacion<br />
  26. 26. Creating Commonality<br />Speaking the same language<br />Uniform Goals<br />Eliminate Redundancy<br />Understanding and Developing<br /> Workforce Skills<br />Core<br />Soft<br />Job<br />
  27. 27. Identifying, Measuring and Improving Workforce Skills <br />for the Jobs of the Future<br />Workkeys is a registered trademark of ACT, Inc<br />KeyTrain is a trademark of Thinking Media<br />
  28. 28. WorkKeys® Skill Areas<br /><ul><li>Reading for Information*
  29. 29. Applied Mathematics*
  30. 30. Locating Information*
  31. 31. Applied Technology
  32. 32. Teamwork
  33. 33. Observation
  34. 34. Listening
  35. 35. Writing
  36. 36. Business Writing</li></ul>* 85% of ALL occupations utilize there skills<br />
  37. 37. TM<br />2009<br />
  38. 38. National Career Readiness Certificate <br />Levels & Employability<br />Core employability skills for approximately 30% of jobs<br />Core employability skills for approximately 65% of jobs<br />Core employability skills for approximately 85-90% of jobs<br />Core employability skills for approximately 99% of jobs<br />
  39. 39. How Does It Work?<br />College Ready/Workforce Ready<br />Redirecting the unemployed<br />Improving the incumbents<br />
  40. 40. WorkKeys Identifies Skill Gaps<br /><ul><li>By comparing the job and individual profiles, the skills gap can be identified</li></ul>6<br />Skills Gap<br />5<br />5<br />5<br />Skills Gap<br />4<br />4<br />4<br />4<br />4<br />4<br />Individual<br />3<br />3<br />3<br />3<br />3<br />3<br />Job Profile<br />Applied<br />Mathematics<br />Reading for<br />Information<br />Locating<br />Information<br />
  41. 41. KeyTrain Helps to Fill Skill Gaps<br />KeyTrain provides self-paced curriculum to help individuals fill their skill gaps<br />6<br />6<br />5<br />5<br />5<br />5<br />KeyTrain<br />4<br />4<br />4<br />4<br />4<br />4<br />Individual<br />3<br />3<br />3<br />3<br />3<br />3<br />Job Profile<br />Applied<br />Mathematics<br />Reading for<br />Information<br />Locating<br />Information<br />
  42. 42. Many new hires have no experience<br />Hundreds of hours of training required<br />Investment in new hires is significant<br />Succession plan of technical talent<br />Quality requirements more stringent <br />Current Challenges<br />
  43. 43. Basic math skills (measurement, metric conversion, weights, dimensions)<br />Ability to follow written instruction<br />Locating Information (quality plans, prints, labels)<br />Mechanical aptitude<br />Soft Skills (initiative, honesty, punctuality, cooperation, desire to learn)<br />English comprehension<br />Typical Skills Gaps<br />
  44. 44. Current internal testing consumes time, resources, and is costly to buy and administer<br />The NCRC eliminates and replaces the process, streamlining selection time<br />Results in a 43% reduction in selection time and eliminates testing burden on HR<br />Candidate Selection<br />
  45. 45. Going Forward<br />Local Initiatives<br />EAC Workforce Development Committee<br />1,000 Skilled Workers<br />ECC Key Train Lab<br />U46 Testing of Juniors and Seniors<br />
  46. 46. The Future in Illinois<br />Illinois NCRC Alliance<br />Group of Educators, Employers, Government, and WIB representatives<br />Heartland Conference – March 2011<br />Midwest consortium of workforce development advocates<br />Elgin presentation<br />Annual ACT National Conference – April 2011<br />Elgin presentation<br />
  47. 47. How do I get involved?<br />Recognizing the NCRC<br />Understanding your company needs<br />Profiling<br />Testing in other areas<br />Contact the Elgin Area Chamber<br />
  48. 48. Elgin Development Group<br />Key Initiatives<br /><ul><li>Business Retention, Recruitment & Expansion
  49. 49. Enhancing Elgin
  50. 50. Transportation & Development
  51. 51. Workforce Development</li></li></ul><li>Visit at the Siemen’s Wind Turbine Plant in Elgin, IL<br />
  52. 52. Business Retention & Recruitment Committee<br />Mission: Retain, facilitate expansion and attract businesses to the Elgin Community<br />
  53. 53. Survey the Elgin business community to identify concerns /challenges and gauge overall sentiment<br />
  54. 54. Foster relationships with brokers and site selectors in order to promote the benefits of an Elgin location<br />
  55. 55. Quickly establish “hot buttons” for companies considering Elgin and address these factors in order of priority. Site selection factors:<br /><ul><li>Taxes
  56. 56. Labor
  57. 57. Real estate inventory
  58. 58. Access to expressways
  59. 59. Incentives
  60. 60. Proximity to residential areas</li></li></ul><li>Provide introductions to assist company and broker/site selectors with their evaluation.<br />State of Illinois contacts<br />City of Elgin contacts<br />Banks<br />Developers / Landlords<br />Sources of labor<br />Elgin Community College (training programs)<br />Foreign Corporate Communities<br />Architects / Designers<br />
  61. 61. Enhance communication amongst corporations of similar origins (i.e. German, Japanese, etc)<br />
  62. 62. Keys to the Committee’s Success<br />Low municipal and county taxes<br />Access to expressways<br />Strong and diversified labor base<br />Existing, high quality, state-of-the-art real estate inventory<br />Proximity to O’Hare<br />Strong foreign investment (European, Asian)<br />Incentive programs<br />Pro-business municipality (expedited permitting)<br />
  63. 63. Elgin Development Group<br />Key Initiatives<br /><ul><li>Business Retention, Recruitment </li></ul> and Expansion<br /><ul><li>Enhancing Elgin
  64. 64. Transportation & Development
  65. 65. Workforce Development</li></li></ul><li>4Q10<br />© Copyright Metrostudy 2011<br />
  66. 66. 4Q10<br />Source: Bureau of Labor Statistics<br />© Copyright Metrostudy 2011<br />National EconomyU.S. Total Employed - Total Number of Jobs<br />
  67. 67. 4Q10<br />Source: Bureau of Labor Statistics<br />© Copyright Metrostudy 2011<br />National EconomyU.S. Total Employed - Total Number of Jobs<br />
  68. 68. National Economy<br />National Single-Family Permits - Annual Trend<br />4Q10<br />Source: U.S. Census Bureau<br />© Copyright Metrostudy 2011<br />
  69. 69. National Economy<br />U.S. Housing Production - Year by Year Totals (SF & MF)<br />4Q10<br />Source: U.S. Census Bureau<br />© Copyright Metrostudy 2011<br />
  70. 70. National Economy<br />U.S. Housing Production - Year by Year Totals (Single-Family only)<br />4Q10<br />Source: U.S. Census Bureau<br />© Copyright Metrostudy 2011<br />
  71. 71. National Economy<br />Housing Market - Top Ten States Ranked by Single Family Permits<br />Illinois @ #19 with 8,052 SF Permits, DOWN -3.7%<br />4Q10<br />Source: Metrosearch USA<br />© Copyright Metrostudy 2011<br />
  72. 72. Chicagoland Market<br />Chicagoland Region - Year by Year Jobs Gained & Lost<br />4Q10<br />Source: Illinois Department of Employment Security<br />© Copyright Metrostudy 2011<br />
  73. 73. Chicagoland Market<br />SF Resale Housing Market - Annual Sales & Active Listings<br />4Q10<br />Source: Illinois Association of Realtors<br />© Copyright Metrostudy 2011<br />
  74. 74. Chicagoland Market<br />SF Resale Housing Market - Median Price Monthly Trend<br />Down 6.9% from November, 2009<br />Down 1.1% from Previous Month<br />4Q10<br />Source: Illinois Association of Realtors<br />© Copyright Metrostudy 2011<br />
  75. 75. Chicagoland Market<br />Six County Area - Properties with New Foreclosure Filings by Quarter<br />4Q10<br />Source: Woodstock Institute<br />© Copyright Metrostudy 2011<br />
  76. 76. Chicagoland Market<br />Foreclosure Filings - Submarkets with 500+ Foreclosures in 2009<br />4Q10<br />Source: Woodstock Institute<br />© Copyright Metrostudy 2011<br />
  77. 77. Chicagoland Market<br />Annual New Homes Started - Year by Year<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  78. 78. Chicagoland Market<br />Year to Date Housing Starts - 2009 & 2010 Comparison by County<br />-14%<br />-10%<br />-53%<br />-31%<br />-20%<br />-8%<br />18%<br />-44%<br />-2%<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  79. 79. Chicagoland Market<br />Finished Vacant New Home Inventory - Quarterly Trend<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  80. 80. Chicagoland Market<br />Annual New Home Starts & Lot Inventory - Annual Trend<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  81. 81. Chicagoland Market<br />Vacant Develop Lot Inventory - 2009 & 2010 Comparison by County<br />-7%<br />-12%<br />-6%<br />-4%<br />1%<br />-5%<br />-3%<br />2%<br />-6%<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  82. 82. Chicagoland Market<br />Vacant Develop Lot Inventory - Months of Supply by County<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  83. 83. Chicagoland Market<br />Municipality Ranking - Ranked by Annual New Home Starts<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  84. 84. Chicagoland Market<br />Builder Ranking - Top 15 Home Builders by 2010 Annual Closings<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  85. 85. Elgin Market<br />Annual New Homes Started - Year by Year<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  86. 86. Elgin Market<br />Annual New Home Starts & Closings - Historical Trend<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  87. 87. Elgin Market<br />Standing New Home Inventory - Historical Trend<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  88. 88. Elgin Market<br />Annual New Home Starts & Lot Inventory - Annual Trend<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  89. 89. Elgin Market<br />Annual New Home Starts & Lot Inventory - By Price Range<br />4Q10<br />Source: Metrostudy<br />© Copyright Metrostudy 2011<br />
  90. 90. Summary<br />Extended Period of Unemployment Likely<br />Job Creation will Lag in the Midwest<br />Prices Reaching Bottom/Still Little Demand<br />New & Resale Home Inventory Low<br />Lot Inventory - Fewer Quality Lots Remain<br />2,500 Starts in 2010, 2011, Look to 2012<br />4Q10<br />© Copyright Metrostudy 2011<br />
  91. 91. Enhancing Economic Vitality Advocating for Business Creating Opportunities for Members<br />Thank you Don, Dan, and Class Participants <br />To learn more about the Chamber visit us on line <br />Our Websiteelginchamber.com<br />EDG Blog<br />elgindevelopmentgroup.blogspot.com<br />Chamber Blog<br />elginareachamber.blogspot.com<br />Facebook Page<br />elginareachamber<br />
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