Economic

Development Partnership Council

2013 has been an exciting and very successful year for the Economic Development Partnership program. As the Partnership continued to grow and position itself as a leading economic development organization in the Chicago metropolitan area and the Midwest, our communities attracted new companies representing a wide range of sectors that contributed to the already diverse and vibrant business environment in Greater Oak Brook. Many existing businesses also grew and expanded their presence in Oak Brook and Oakbrook Terrace.

In 2013, Partnership staff participated in major conferences and events and established new contacts with commercial real estate representatives. As a result, a record number of brokers attended the Third Annual Greater Oak Brook Commercial Real Estate Luncheon. The Partnership also hosted nineteen international trade representatives from various nations that joined us for a presentation and tour of the area. The Partnership continued to work on strengthening our talented workforce while assisting existing businesses with specific needs and requests.

Through the hosting of eight building fairs, staff enabled new connections between office employees in Greater Oak Brook and local hotels, restaurants, retailers and other businesses. Partners and staff continued to develop a strategy for new transportation options in the area and assisted in the work of the pedestrian access plan. Staff also supported our local hotels in attracting new meetings and conferences to the area, efforts which culminated in hosting the Second Annual Meeting Professionals Luncheon in November 2013.

We are very thankful for the support received from business leaders, local landlords and landlord representatives and elected officials and municipal staff and truly look forward to working with you in 2014.

Economic Development Partnership Council-2014 Economic Development Initiatives:
• Continue to work to retain and attract businesses
• Support initiatives that aim to improve transportation and pedestrian access
• Support commercial development efforts and infrastructure improvements that expand commerce
• Expand key partnerships and strengthen existing ones
• Begin publishing an annual Greater Oak Brook Business Journal with substantive, researched articles analyzing local business trends and industries
• Expand outreach to young workers by producing new workforce
• and jobs video highlighting why Greater Oak Brook is a great place to work
• Organize a Small Businesses Council and highlight and award Greater Oak Brook’s Top Small Businesses

Over the past year, the Economic Development Partnership achieved another record number of business relocations, expansions and retentions for Oak Brook and Oakbrook Terrace. It was also a successful year for meeting and convention recruitment and retention, and for the development of new initiatives and activities that will further support local economic development goals. Here is an overview of the work performed.

YEAR IN REVIEW HIGHLIGHTS
Maintained the highest office and retail occupancy rates of any community in the Chicago suburbs
Engaged a record number (more than 800) of new of?ce and retail tenant representatives via meetings, events, written correspondence and regular electronic communication
Assisted the largest 2013 attraction projects in Oak Brook and Oakbrook Terrace
Prepared incentives proposals and used new incentives to attract businesses to Greater Oak Brook
Provided community and property tours, as needed, for prospective office and retail tenants
Hosted the Third Annual Commercial Real Estate Luncheon, which attracted a record number (100) tenant representatives, landlord representatives and key municipal leaders. A panel of 6 speakers, including companies that have recently signed a new lease or renewed a lease in Greater Oak Brook and municipal and Partnership staff, offered testimonials and information on assistance and incentives
Hosted the Second Annual Experience Oak Brook Luncheon, which attracted 40 meeting planners from international, national and Chicagoland associations and organizations
Presented eight building fairs that reached a total of 6,120 employees in Greater Oak Brook. The objective of the building fairs was to keep Greater Oak Brook’s current office tenants and their employees engaged and spending dollars in our communities and promoting Greater Oak Brook’s hotels, restaurants, retailers and other businesses
Worked with landlords and landlord representatives to market Greater Oak Brook’s properties to prospective office and retail tenants in the Chicagoland, around the nation and internationally. Partnership staff continued to utilize the website, printed publications and social media to market available space
Introduced new tools: new Available Properties printed brochures, new electronic Commercial Real Estate Newsletters and new Commercial Opportunity E-blasts
Participated in targeted conferences and events and provided information to potential tenants, site selectors and office and retail tenant representatives
Presented two international events that aimed to inform international trade representatives about Greater Oak Brook’s advantages and amenities and to also share with local companies information about international trade opportunities.
Strengthened existing and established new relationships with regional, national and international economic development organizations and trade offices
Continued to work with partners and with the City and Village to develop a comprehensive transportation plan for Greater Oak Brook
Engaged a targeted group of young professionals and hosted them for an Emerging Leaders in Commercial Real Estate Networking event
Recruited gifts from Greater Oak Brook companies for Welcome and Appreciation packets that were delivered to new businesses and to businesses that renewed their leases in Greater Oak Brook.


Top row from left to right: Jeff Mann, CBRE; Mike Zawaski, Radiological Society of North America; Jeffrey Krusinski, Krusinski Construction; …..; Edward Harrington, CenterPoint Properties; Charles Ungaro, Ace Hardware; Ken Greene, Comcast; Bob Kallien, Village of Oak Brook; Dan Wagner, Inland Real Estate Group of Companies; Cathy Bushman, Tiffany & Co.; Chris Johnson, DoubleTree Hotel Chicago-Oak Brook; David Niemeyer, Village of Oak Brook; Mihaela Dragan, City of Oakbrook Terrace; Valentina Tomov, Greater Oak Brook Chamber of Commerce and Economic Development Partnership; Chuck Fleming, Oakbrook Center; Mike Van Zandt, NAI Hiffman; Brian Rady, Public Policy Council; Jeffrey Kennedy, Pedestrian Access Committee, Village of Oak Brook; Art Osten, Village of Oak Brook; Dennis Greco, City of Oakbrook Terrace; Tracy Mulqueen, Greater Oak Brook Chamber of Commerce

Bottom row left to right: William Baltutis, TMA Lake-Cook (Guest Speaker); Bob Knott, SWC Technology Partners; Matthew Mulvihill, Reel Club; Simon Fricker, Le Meridien Hotel Oak Brook; Lina Shah, Coldwell Banker; John Baar, Village of Oak Brook; President Gopal Lalmalani, Village of Oak Brook; Bryan Gay, Choose DuPage (Guest Speaker); Nicholas Zito, Choose DuPage (Guest Speaker); Jason Ciavarella, TMA Lake-Cook (Guest Speaker).