McHenry Market Pulse: Are businesses exporting? If not why???

· The last couple of posts I’ve written about the evolving and dynamic nature of economic development, internet sales competing with brick and mortar stores, globalism and interrelationship between the City of McHenry economy and Chicago….I also mentioned an initiative by The State of Illinois Department of Commerce and Economic Opportunity, Illinois Community College Board and Illinois Community College Council of Presidents in cooperation with regional workforce investment boards hosting ten public forums as part of a statewide effort which will result in a Five-Year Workforce Investment Strategic Plan…

· Another initiative, Metro Chicago Exports www.MetroChicagoExports.com, is a regional endeavor between the City of Chicago/World Business Chicago and Cook, DuPage, Kane, Kendall, Lake, McHenry and Will counties. The primary focus of this collaborative effort is two-fold: increase exporting from small and medium-sized businesses and maintain and increase regional employment growth.

· I had the opportunity to attend a roundtable discussion, hosted by the McHenry County Economic Development Corporation, and representatives from Metro Chicago Exports gave an invigorating vibrant presentation about global consumption, painted a clear picture of the tremendous value, importance and need to do business internationally!!!!!!!!!!! Why???

· In 2000, global middle class consumption outside of the United States equaled $17 trillion, by 2020 this number is projected to be $35 trillion and increase dramatically in the decades to follow. In 2012 $66 billion of goods and services were exported from the Chicago Metropolitan Region, which ranked fourth amongst all United States metropolitan areas however Chicago does not fare nearly as well in exports as a proportion of total product output. Why is this so critical? For every $1 billion in exports 5,690 jobs are created so increasing export production is paramount to sustaining and creating additional employment for our City and region.

· Metro Chicago Exports began in September 2014 and is a two-year pilot project with its two main goals being: increasing exports from small and medium-sized companies and supporting regional job growth. Metro Chicago Exports is a free service to assist companies seeking to enter, expand and succeed in the international marketplace. They will also be launching a micro-grant program to assist businesses as part of this effort.

· Stay tuned for additional information on this and other initiatives, training opportunities and seminars on customs and export controls and additional regional economic efforts…..I will be doing my best promoting this and other similar efforts and programs to City employers but I encourage you to pass this information on….

· Below is contact information for Metro Chicago Exports:

Thomas Hulseman, Managing Director (312) 589-5789 and Kelsey Schrenk, Program Manager (312) 589-5773; www.MetroChicagoExports.com

Please feel free to contact me directly about this or other programs, seminars, assistance with business growth and expansion, etc. I can provide resources, contact information, facilitate a meeting or whatever it takes to promote economic development in the City of McHenry!!!!!!!!!

Please continue to provide feedback, submit questions and comments because economic development is a community-wide effort!!!!!!!

Coming in future blog posts:

What are economic development clusters and value chains?
What are SIC, SOC and NAICS codes and what were/are they used for?
What factors do non-retail businesses consider when thinking about relocating?
How do brick and mortar businesses remain competitive with on-line businesses?
Chicago Metro Metal Consortium..
Customs and Export Controls and Sanctions Compliance Seminar….
Illinois Small Business Development and International Trade Center…
Comprehensive Economic Development Strategy Update…
What are Class A, B and C spaces?
Franchising? What is it? What companies offer it and what challenges are associated with attracting a retailer which operates exclusively using franchising?
Future trends in economic development: “market segmentation;“ “pop-up” stores; “placemaking/third places” and “creating an experience”….
Challenges associated with economic development…