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Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members Welcome to the  Elgin Area  Leadership Academy  Economic Development Session February 5, 2011
Ingredients for Organizational Success Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members
Our Mission Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members
Chamber Board of Directors Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members Executive Committee 	John Hurlbut, Hurlbut & Hurlbut P.C. 		Chair of the Board  	Michael Shales, Shales McNutt, LLC		Chair Elect of the Board  	Susan Angell-Case, Baird and Warner		Vice  Chair of Membership   	Mary Martini, Sherman Hospital		Treasurer  	Michael McKay, Edward Jones Investments 	Immediate Past Chair of the Board  	Leo Nelson, Elgin Area Chamber		Secretary Board of Directors	Larry Dry, Provena Saint Joseph Hospital	  	Charles Falls, Demi & Cooper Advertising	  	Kim Gilmore, Gilmore Marketing Concepts Inc. 	Patrick Hayes, Fabric Images Inc. 	Tonya Hudson, Downtown Neighborhood Association 	Chris Huecksteadt, MetroStudy	  	Dale Lonis, Elgin Symphony Orchestra 	Todd Olsen, National City Bank	  	Dave Rock, IHC Construction Companies, LLC	  	Dr. David Sam, Elgin Community College	  	Eric Smith, Hoffer Plastics Corporation 	Jack Sorenson, U.S. Shelter, LLC 	Sean Stegall, City of Elgin 	Pat Szpekowski, PmS advertising, inc.	  	Jim Thomason, Grand Victoria Casino	  	Dr. Jose’ Torres, School District U-46	  	Mary Catherine Walsh, Cuisine America Inc. Catered Events 	Jennifer Whiteside, Chase Card Services
Chamber Staff Jeanette Mihalec,  Vice President Membership Leo Nelson, President Michael O’Kelley Vice President Economic Development Terry Gajewski, Vice President  Finance/Information Systems  Catherine Smith Administrative Assistant         Carol Gieske, Vice President Communications and Special Events Pat Tindle  Administrative Coordinator Bob Malm  Challenge 21 Campaign Director
Board of Directors Executive Committee Governance Committee Elgin Development Group Ambassador Club Elgin Area Leadership Academy Golf Committee Hablamos Español Expo Committee Retention Committee  President’s Council  Business Retention/Recruitment Committee  Workforce Development Committee  Enhancing Elgin Committee Transportation Committee Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members MembershipCouncil
X-Factor Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members
Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members Thanks to our Volunteers!We appreciate their contribution of time and expertise to help us to serve the business community. Paula Amenta Susan Angell-Case Patty Arroyo Dawn Ashley David Bear Mark Billings Kimberly Bless Jackie Bolger Lynne Bosley Kelly Brown Charles Cassell John Cassidy Diane Cooper Fred Coppes Wendy Covich Scott Damisch Jerry Deering Nidia Delgado Carol DePue Tom Devona Larry Dry Mary Dulabaum Jim Durante Dale Dwyer Nathaniel Edmond Jerry Edwards David Essex Charles Falls Kathy Fester Brian Fletcher Joe Follrath Dan Fox Kenneth Franzese Michael Frisco Jaime Garcia Heather Gates Nancy Gentile Marie Gildersleeve Kim Gilmore Donna Grimmett Gordon Gromer Peggy Gundrum Karla Guzman Pat Hayes Sofia Hedberg James Hills Richard Hitchcock William Hoffer Christopher Huecksteadt Cathy Hurlbut Richard Jakle Rise Jones Thomas Kallay David Kaptain William Karsten John Katzenbach Barb Keselica Jay Kilgore Barbara Kininmonth Carolyn Kirk-Likou Ginger Knapp Cynthia Kolich Bill Kowalski Rich Kruth Demetrius Kyles Ian Lamp Dale Lonis Tonya Lucchetti-Hudson Roy Lukowski Mary Martini Mark Mastrorocco Jorge Mauricio Michael McKay Tina Mengel Deborah Miller Javier Montoya Susan Moylan Steve Munson Cherie Murphy Michael Murschel Simon Nussbaum Diane O'Connor Susan Olafson Todd Olsen David Patzelt Lee Plasmier Chris Priester John Prigge Sharon Prizy Denise Raleigh Tracy Ramsay McDonnell Toya Randall Scott Reining Mark Richards Thomas Rickert Mary Robb Richard Robinson Dave Rock Krisilee Rothaug Sara Sabo David Sam Pam Saylor George Schober Edward Schock Aaron Sellers Jack Shales Dana Slattery AJ Smith Michael Sobel Jerry Sorensen Jack Sorenson John Steffen Sean Stegall Mary Ann Stephens David Strahl Steve Super Pat Szpekowski Jim Thomason Steve Thoren Jose Torres Jackie Tredup Jacquie Vinz Mary Catherine Walsh
Class Exercise Choosing a U.S. location
Enhancing Economic Vitality    Advocating for Business     Creating Opportunities for Members Partnership Goals: ,[object Object]
Improve the quality of life and standard of living for Elgin residents
Create a diverse and vibrant local economy
Generate desirable employment opportunities,[object Object]
Enhancing Elgin
Transportation & Development
Workforce Development,[object Object]
Enhancing Elgin Proclaiming the positive aspects and quality of life in the Elgin area through an image and branding campaign.
Transportation & Development Transportation Focusing on critical land use and transportation issues as the Elgin area continues to grow and prosper Working with government officials to improve the existing roadway system Exploring new strategic transportation corridors in the western growth area
Workforce Development Fostering communication between business, government and educational entities to help build a diverse and technologically talented workforce Enhancing workforce quality through skill building in partnership with Elgin Community College Developing stronger school/business partnerships to improve the skill set of entry level workers Continuing to implement WorkKeys¼ – a national career readiness certification program
Elgin Development Group Key Initiatives ,[object Object],	and Expansion ,[object Object]
Transportation & Development
Workforce Development,[object Object]
Changes in Workforce Skills Needs Across Fifty Years Unskilled 12% Skilled 20% Professional 20% Skilled 68% Unskilled 60% Professional 20% 1955 2005
Do we have a skilled workforce to compete globally? Government Business & Industry Education Developing Strategy
Community Support to Workforce Development City of Elgin Chamber of Commerce Illinois Dept. of  Employment Security Elgin  Community College Kane County Department of Employment & Education/ WIB U-46 Sch Dist Career &  Technical Guidance Workforce Grand  Victoria Foundation Pace Bus  UnitedWay Business & Manufacturing Centro de Informacion
Creating Commonality Speaking the same language Uniform Goals Eliminate Redundancy Understanding and Developing     Workforce Skills Core Soft Job
Identifying, Measuring and Improving Workforce Skills  for the Jobs of the Future Workkeys is a registered trademark of ACT, Inc KeyTrain is a trademark of Thinking Media
WorkKeysÂź Skill Areas ,[object Object]
Applied Mathematics*
Locating Information*
Applied Technology
Teamwork
Observation
Listening
Writing
Business Writing* 85% of ALL occupations utilize there skills
TM 2009
National Career Readiness Certificate  Levels & Employability Core employability skills for approximately 30% of jobs Core employability skills for approximately 65% of jobs Core employability skills for approximately 85-90% of jobs Core employability skills for approximately 99% of jobs
How Does It Work? College Ready/Workforce Ready Redirecting the unemployed Improving the incumbents
WorkKeys Identifies Skill Gaps ,[object Object],6 Skills Gap 5 5 5 Skills Gap 4 4 4 4 4 4 Individual 3 3 3 3 3 3 Job Profile Applied Mathematics Reading for Information Locating Information
KeyTrain Helps to Fill Skill Gaps KeyTrain provides self-paced curriculum to help individuals fill their skill gaps 6 6 5 5 5 5 KeyTrain 4 4 4 4 4 4 Individual 3 3 3 3 3 3 Job Profile Applied Mathematics Reading for Information Locating Information
Many new hires have no experience Hundreds of hours of training required Investment in new hires is significant Succession plan of technical talent Quality requirements more stringent  Current Challenges
Basic math skills (measurement, metric conversion, weights, dimensions) Ability to follow written instruction Locating Information (quality plans, prints, labels) Mechanical aptitude Soft Skills (initiative, honesty, punctuality, cooperation, desire to learn) English comprehension Typical Skills Gaps
Current internal testing consumes time, resources, and is costly to buy and administer The NCRC eliminates and replaces the process, streamlining selection time Results in a 43% reduction in selection time and eliminates testing burden on HR Candidate Selection
Going Forward Local Initiatives EAC Workforce Development Committee 1,000 Skilled Workers ECC Key Train Lab U46 Testing of Juniors and Seniors
The Future in Illinois Illinois NCRC Alliance Group of Educators, Employers, Government, and WIB representatives Heartland Conference – March 2011 Midwest consortium of workforce development advocates Elgin presentation Annual ACT National Conference – April 2011 Elgin presentation
How do I get involved? Recognizing the NCRC Understanding your company needs Profiling Testing in other areas Contact the Elgin Area Chamber
Elgin Development Group Key Initiatives ,[object Object]
Enhancing Elgin
Transportation & Development
Workforce Development,[object Object]
Business Retention & Recruitment Committee Mission: Retain, facilitate expansion and attract businesses to the Elgin Community
Survey the Elgin business community to identify concerns /challenges and gauge overall sentiment
Foster relationships with brokers and site selectors in order to promote the benefits of an Elgin location
Quickly establish “hot buttons” for companies considering Elgin and address these factors in order of priority.  Site selection factors: ,[object Object]
Labor
Real estate inventory
Access to expressways
Incentives
Proximity to residential areas,[object Object]
Enhance communication amongst corporations of similar origins (i.e. German, Japanese, etc)
Keys to the Committee’s Success Low municipal and county taxes Access to expressways Strong and diversified labor base Existing, high quality, state-of-the-art real estate inventory Proximity to O’Hare Strong foreign investment (European, Asian) Incentive programs Pro-business municipality (expedited permitting)
Elgin Development Group Key Initiatives ,[object Object],	and Expansion ,[object Object]
Transportation & Development
Workforce Development,[object Object]
4Q10 Source:  Bureau of Labor Statistics © Copyright Metrostudy 2011 National EconomyU.S. Total Employed - Total Number of Jobs
4Q10 Source:  Bureau of Labor Statistics © Copyright Metrostudy 2011 National EconomyU.S. Total Employed - Total Number of Jobs
National Economy National Single-Family Permits - Annual Trend 4Q10 Source:  U.S. Census Bureau © Copyright Metrostudy 2011
National Economy U.S. Housing Production - Year by Year Totals (SF & MF) 4Q10 Source:  U.S. Census Bureau © Copyright Metrostudy 2011
National Economy U.S. Housing Production - Year by Year Totals (Single-Family only) 4Q10 Source:  U.S. Census Bureau © Copyright Metrostudy 2011
National Economy Housing Market - Top Ten States Ranked by Single Family Permits Illinois @ #19 with 8,052 SF Permits, DOWN -3.7% 4Q10 Source:  Metrosearch USA © Copyright Metrostudy 2011

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Elgin Area Chamber / Development Group

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