I have reviewed the minutes and they correctly represent the actions taken by the Commission. ______Matt Frank, Assistant Director of Community Development/Economic Development Manager

SCHAUMBURG BUSINESS DEVELOPMENT COMMISSION VILLAGE OF SCHAUMBURG PRIME STEAKHOUSE OCTOBER 10, 2016 ______

MEMBERS PRESENT Tim Gerhardt, Allpoints Inc. George Kalkounos, Chicago Prime Lisa Timbo, Formerly Renaissance Hotel Skip Barchfeld, Northwest Flyers Sandy Westlund-Deenihan, Quality Float Works Jeff Miller, Divine Signs Jim Idstein, Kayhan International Tony LaFrenere, Schaumburg Park District Mark Mrozinski, Gary Bublitz, Golden Corridor Family YMCA Jennifer Kyung, Zurich Insurance Steve Hovany, Strategy Planning Assoc. Joel Regier, American Chartered Bank Kaili Harding, Schaumburg Business Association Leo Lenaghan, Dearborn Construction

OTHERS PRESENT Mayor Larson George Dunham, Trustee Frank Kozak, Trustee Tom Dailly, Trustee Mark Madej, Trustee (See attendance sheet for additional attendees)

1. WELCOME – Mr. Gerhardt opened the meeting.

2. INTRODUCTION OF MEMBERS AND GUESTS

Mr. Gerhardt introduced new member, Jeff Miller of Divine Signs. SCHAUMBURG BUSINESS DEVELOPMENT COMMISSION October 10, 2016 Page 2 3. APPROVAL OF MINUTES

Ms. Timbo motioned to approve the meeting minutes from September 12, 2016. The motion was seconded by Mr. Lenaghan.

All Ayes. MOTION CARRIED

4. FEATURED BUSINESS OF THE MONTH –

Mr. Gerhardt stated that the featured business of the month selected was Zurich Insurance Group. Mr. Gerhardt mentioned that Ms. Kyung hosted a tour of Zurich’s new facility for members of the commission and said it was an incredible facility. Mr. Gerhardt gave a brief overview of the insurance firm. Mr. Gerhardt said Zurich has operated in Schaumburg since the 1980’s. Mr. Gerhardt indicated they have grown to be the largest single employer in Schaumburg employing over 2,500 employees. Mr. Gerhardt stated Zurich is actively involved in the community, and is regularly involved with local and national non-for-profit organizations and charities including the American Cancer Society, American Red Cross, Habitat for Humanity, Make-A-Wish Foundation, St. Jude Children’s Hospital, and the United Way. Locally, Zurich is significantly involved with the Schaumburg Business Association, The Prairie Center for the Arts, and the Schaumburg area school districts. Mr. Gerhardt introduced Ms. Jennifer Kyung of Zurich North America and presented her with a plaque. Ms. Kyung thanked SBDC members for participating in the tour of the facility, accepted the plaque on behalf of the company, and thanked the Commission for the recognition.

5. CLASS 6B REQUEST – MEOD, LLC

Mr. Leighty said recently we approved a 6B request for 101 State Parkway however they went out of business. Mr. Leighty indicated the new applicant – MEOD, LLC purchased the property as well as many of the former company’s assets. Mr. Leighty said MEOD, LLC is an engineering company that provides solutions for automated assembly and contract manufacturing. Mr. Leighty indicated they are proposing to make $600,000 of improvements to the facility including adding a mezzanine and building another floor for office space.

SCHAUMBURG BUSINESS DEVELOPMENT COMMISSION October 10, 2016 Page 3 Mr. Leighty said they plan on demonstrating significant community involvement by investing in Harper College, the Golden Corridor Advanced Manufacturing Partnership, Prairie Center for the Arts, and the Schaumburg Business Association. Mr. Leighty indicated they will be bringing 85 jobs to the village which is a combination of new jobs and consolidating employees from their Glendale Heights and Carol Stream facilities.

Mr. Leighty introduced Mr. Dave Showman of Nortech. Mr. Showman gave a brief history of the company. Mr. Showman said it was a benefit to them to maintain one facility with all three divisions of their company, and appreciated the opportunity to apply for the 6B. Mr. Showman indicated that there was a significant difference in the amount of taxes they pay in DuPage County vs. what they would pay in Schaumburg. He indicated it would be difficult manage the investment and stay in Schaumburg without the 6B. Mr. Showman said the 6B is critical to be able to consolidate and operate the business in Schaumburg. Mr. Leighty clarified that this is a renewal of Tisma’s previous application and said they would still need to meet the core criteria including job growth, company growth, community involvement, and investment. Mr. Leighty indicated they did meet the criteria. Mr. Gerhardt asked if there were any questions and there were none.

A motion was made by Mr. Lenaghan and seconded by Mr. Mrozinski to recommend approval of MEOD, LLC 6B renewal request. Mr. Leighty indicated this would go to the next FLAGG Committee meeting October 27th .

All Ayes. MOTION CARRIED

8. EDUCATIONAL TOPIC – NEXT LEVEL NORTHWEST INCUBATOR

Mr. Frank indicated a group of communities including Buffalo Grove, Mount Prospect, Rolling Meadows, Elk Grove Village, Schaumburg, Hanover Park, Hoffman Estates and Arlington Heights have gotten together over the past months to discuss how to make the northwest suburbs competitive. Mr. Frank said has lost over 20,000 jobs from 2012-2016, and the population has declined as well. He said there was discussion on how to stay relevant. Mr. Frank said by working together, it will encourage businesses to stay here, grow, and we will assist the Stage 2 businesses to mentor the next wave of businesses that come. He said it is a population of nearly 400,000, with over 20,000 businesses so there is plenty of opportunity to help. SCHAUMBURG BUSINESS DEVELOPMENT COMMISSION October 10, 2016 Page 4 Mr. Frank shared a presentation highlighting the mission of Next Level Northwest which is a collaborative regional business acceleration partnership. He said the core elements of the mission are to accelerate the growth of Stage 2 businesses within each community and the region, and to facilitate the ongoing learning that leads to continuous innovation and growth. Mr. Frank indicated this group would be non-profit, and funded by local municipalities.

Mr. Frank said this was the next step relevant to our community in helping us to sustain growth. Mr. Frank said it was a scholarship type program that included formal mentoring, so they would be looking for coaches. He indicated members of the commission as business leaders in the community would be ideal candidates for coaching.

Mr. Frank indicated the project team was still in the beginning stages of setting the program up and would be filing for the 501C3 status soon. He said the next stage would be assembling a team that the businesses can learn from and build a network. Mr. Frank the end goal would be that businesses vetted through the system will see 10-20% revenue increases. He also indicated the hope was to create more jobs in the northwest suburbs and strengthen the tax base.

Mr. Frank said it was a three year commitment for each community involved, and each community is vetting the program through the economic development commissions and Village Boards to ensure all are on board. He said this was brand new and has never been done in Illinois and should attract a lot of attention. Mr. Frank asked if there were any questions.

Mr. Gerhardt asked if the program has been successful or if there were any pilot programs, and Mr. Frank indicated Silicon Valley had a large innovative group that has a business acceleration program. Mr. Hovany said there was no transit support for Schaumburg and no other support to make this into what it could be. Mr. Frank said they were working on the transportation issue by talking with about how to get access off Meacham and 90 to plug the new TIF district.

Ms. Westland-Deenihan said she applauded the idea and said our state was in dire straits. She said our current Governor and past Governors have done nothing to incentivize businesses to stay in Illinois. Ms. Westland-Deenihan asked if Mr. Frank could forward a copy of the Powerpoint presentation to the Commission, and Mr. Frank said he would send it to everyone. Mr. Idstein asked how they would SCHAUMBURG BUSINESS DEVELOPMENT COMMISSION October 10, 2016 Page 5 attract new business, and Mr. Frank indicated there will be discussions on how to attract manufacturers and help them grow.

9. CONTINUING ITEMS – SCHAUMBURG BUSINESS ASSOCIATION UPDATE

Ms. Harding indicated Good Morning Schaumburg was scheduled for tomorrow, and Tim Smithe from Walter E. Smithe was the speaker. She said the Manufacturing Summit was scheduled for the end of this month. Ms. Harding mentioned that the mayors of Hoffman Estates, Elk Grove and Schaumburg would be speaking. She added that the Toast of Schaumburg would be celebrating their 15 year anniversary as an association was scheduled on October 21 at the Renaissance. Ms. Harding indicated attendance is expected to be over 400 people which would be the largest they have ever had. She added that the Commercial Real Estate Summit was on Wednesday. Ms. Harding said to check the SBA website for the calendar of events and encouraged all to attend.

Mr. Frank presented Ms. Timbo with a plaque and thanked her for her service to the community and the commission. Ms. Timbo thanked the commission, and expressed gratitude for the opportunity and experience.

10. NEXT MEETING – Monday, November 14, 2016

ADJOURNMENT

Mr. Lenaghan motioned to adjourn the meeting. The motion was seconded by Mr. Hovany. Meeting was adjourned at 7:00 p.m.

Respectfully submitted,

Vicki Bloomer Recording Secretary

Distribution: Village President and Board Village Clerk Village Manager