Working Together to Build a Strong Economy is Important for the Entire Community.

Everything that we all do individually is important to making the community what it is. Economic growth is something that we need to work on together to meet the challenges and win the competition to build and maintain a strong local economy.

Why Businesses Should Be Valued:
Harger Inc.

The Harger project is a great example of multiple districts recognizing the value of local business and working together to retain a local business and allow that business to expand here in Grayslake.

Harger's Grayslake location serves as their corporate headquarters as well as a manufacturing site.  Harger was looking at available options to relocate & expand their business. They had incentive offers from the State of Wisconsin if they were willing to relocate.

The Village, Park District, Library District, and Fire Protection District worked together on a 7-year property tax abatement agreement with Harger that provided the opportunity for the business to remain in Grayslake and also to expand its building by 30% to accommodate an increased demand for their products.

Business development creates new non-residential tax base for schools and others

Harger’s expansion alone resulted in an estimated $74,000 (pre-abatement) in additional property tax dollars that are distributed among all the local districts.

Business development creates jobs locally and provides products and services locally 

By staying in Grayslake, Harger can continue to be a customer in the local economy.  The use of local products and services strengthens the local economy. Harger’s purchasing records found that their total economic impact on the Lake County and Grayslake economies amounts to an estimated $6.9 million per year.

Businesses create a demand for local housing, increasing property values & home price sales for residents

Retaining Harger retained 80 local jobs & the expansion allowed Harger to increase their employment by 25% (20 new jobs).  Keeping and adding local jobs has a positive benefit on the local housing market.

As you can see, businesses have a positive impact on the entire community. That’s why working together for a strong economy is Everyone’s Business!

23%

The median single-family sale price in the greater Village of Grayslake area has increased 23% since 2019.

Source: MLS, COSTAR, LoopNet Data

GRAYSLAKE ITEMS OF INTEREST