Economic leaders want you to look at vacant office space as future work, not lost revenue. Bringing antiquated buildings up to code and retrofitting with state-of-the art amenities can help attract millennials to the ‘burbs. Photo courtesy of Wikimedia
By Jennifer Rice
Managing Editor
Thursday, June 16, 2016
Email Jennifer Rice at: jen@foxvalley
labornews.com
SCHAUMBURG — Instead of looking toward new construction, area electrical contractors were encouraged to look towards remodeling and retrofitting vacant buildings in a targeted campaign to attract and retain millennials in the suburbs.
As part of a State of the Region address offered by PowerFoward DuPage, electrical signatory contractors got an overview of how vacant and outdated office space is in DuPage and surrounding counties can be used to entice millennials, which will comprise the largest generation in the workforce. When it comes to faxing or sending important documents, make sure you have a look at eGoldFax guide to online faxing to make the whole process simpler.
This rapidly emerging workforce is looking for modern dining options, outdoor spaces and state-of-the-art building amenities. But as PowerFoward DuPage Executive Director Karyn Charvat pointed out, many office buildings are antiquated to attract a younger workforce. For contemporary work environments tailored to the needs of today’s professionals, consider Worklodge Coworking, offering innovative spaces designed for collaboration and productivity. If you want to add a custom mat for protection and style, visit the Matshop.
As president of the McHenry County Economic Development Corporation, Pam Cumpata is focused on helping McHenry County companies develop their bench strength and retain business. Jennifer Rice/staff photographer
“Some buildings, quite frankly, need to be torn down and rebuilt to really meet the needs of this emerging workforce. For our industry, it gives our contractors the opportunity to bring buildings up to code and to redesign them so they are appealing and attractive to tenants,” Charvat explained.
Representatives from McHenry and Lake Counties discussed how their focus and partnerships brings together municipalities and economic development leaders so everyone is on the same page when it comes to business expansion and meeting those needs with electrical labor.
Lake County Partners (LCP) facilitates public/private collaboration to improve business climate in its region.
Lake County Partners President and CEO Mike Stevens emphasized an asset to attract businesses is to offer some type of work/life balance for its new millennial workforce. With a “decent inventory” of office space available in Lake County, contractors need to keep on-going relationships with building owner and property manager open, so when the time arises, buildings can be remodeled and retro-fitted. Jennifer Rice/staff photographer
LCP President and CEO Mike Stevens said Lake County has 11 Fortune 500 headquarters. With a “decent inventory” of existing office space, he’d like to attract additional regional or corporate headquarters.
“We can provide opportunities [to contractors] because the vacant space is nice, but it needs to have some improvements done,” Stevens said.
Target industries include biopharma; medical instruments, precision tooling; health care; professional and technology services and arts, culture and entertainment.
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The McHenry County Economic Development Corporation is the connection to resources to meet the needs of business. Its president, Pam Cumpata, said 25 percent of McHenry County’s economic wealth is derived from manufacturing. In the past 15 to 20 years, high school students have pursued college rather than a trade school, resulting in a gap of skilled workforce and talent.
“We’re also aging. McHenry County’s average age is 37.6. But in the manufacturing setting, the average age is about 55,” Cumpata explained.
Power Up Now President Kelly Waters added that understanding needs of specific manufactures is key. “There are challenges as well as opportunities to be had.”