Economic Development Commission

Economic Development Commission Meeting Minutes Date: May 21, 2025 Location: ISTP, 8045 Lamon Avenue, Conf. Room A/B EDC MEMBERS PRESENT: Michael Rosen, Chair Marc Battista, Maegan Akers, Barbara Carley, Jeremy Gleason, Brian Levinson EDC MEMBERS ABSENT: Howard Meyer, Vice-Chair, Steve Franklin, Lynn Nolan, Scott Gendell, Nathan Norman, and Trustee Pure Slovin STAFF PRESENT: Mayor Ann Tennes John Lockerby, Village Manager Johanna Nyden, Comm. Dev. Director Rodney Tonelli, Economic Vitality Manager OTHERS PRESENT: Richard Requena, Chicago Tribune Rebecca Motley, World Business Chicago Elizabeth Gichana, Intersect Illinois Max Zwolan, JLL (I) CALL TO ORDER A quorum being present, Chair Rosen called the meeting to order at 8:39 AM. (II) APPROVAL OF MEETING MINUTES FROM April 16, 2025 A motion was made by Commissioner Levinson to accept the draft minutes of the April 16, 2025 meeting. Second by Commissioner Carley. The motion passed by unanimous voice vote. (III) NEW BUSINESS – Life Science Market Discussion Rod introduced guest presenters Rebecca Motley, Elizabeth Gichana and Max Zwolan. Chair Rosen asked that they address impacts of COVID funding ending and federal policy changes under the current administration at some point during their presentation. Rebecca Motley discussed the uncertainty in the industry space, mentioning the loss or pull back on grants that early stage companies rely on. She expressed optimism though on the continued growth of the sector in Illinois. She cited extra interest from International companies and recent exposure at Select USA. R&D at the universities is a concern depending on NIH funding. Motley and Gichana gave a powerpoint presentation highlighting trends and data related to the life science market space and Chicagoland’s position. Chair Rosen referenced a bright spot in bio-manufacturing form international companies. Commissioner Carley asked about Skokie data points that help market the ISTP. Max Zwolan presented the strengths of the ISTP and Chicago market: space for growth; available spaces; uniqueness of ISTP; price competitive compared to Chicago or Evanston; strength of existing tenants; employment base; Northwestern connectivity. Document Number: 627745 Document Name: Economic_Development_Commission_Meeting_Minutes_May_21_25  Commissioner Akers asked about tenants that don’t select ISTP. Max stated they usually already have a strong tie to downtown Chicago and that market has expanded to offer many more options than 10 years ago, more competition. Motley discussed challenge of retention as there is more funding in the industry on the coasts. Chair Rosen discussed the I-Bio conference and the possibility of bringing it back to Chicago. John Lockerby asked about the benefit of connecting with other research universities in Chicago. Max Zolwan encouraged the idea, but advised to stay closer to Northwestern. Chair Rosen discussed amenities companies look for such as existing/available space, loading space, like minded users, campus flavor and amenities. Elizabeth Gichana discussed market growth in the region and identified other stakeholders and properties that have developed. Commissioner Carley discussed the importance of maintaining the Northwestern connection. Motley discussed the level of service given to assist with permits. Chair Rosen discussed the Out of Space event at ISTP and the connection between science and music. Gichana discussed the level of service that universities provide to companies versus non- university properties. She also advised to attend industry events to build network and identify prospects. Zwolan discussed the capital challenges in the build-to-suit market. He identified bio- manufacturing and advanced manufacturing as strong target areas. Chair Rosen asked about lessons to learn from Fulton Market projects. Zwolan says that Fulton locations have been successful in attracting science companies. Stated that the live, work, play of the neighborhood attracts and retains talent for companies. He also referenced having available built space to move into, which is also the case in Skokie. Motley discussed the Women in Bio group and advised exploring hosting different groups in the market space. Commissioner Akers discussed strengthening the relationship between Westfield Old Orchard and the ISTP. (IV) OLD BUSINESS There was no old business. Document Number: 627745 Document Name: Economic_Development_Commission_Meeting_Minutes_May_21_25 (V) COMMUNICATIONS a. Village Staff Rod reminded the commission that future meetings would be at 4:30 PM. b. EDC Members Chair Rosen reminded everyone that the July meeting will be held at Old Orchard to focus on retail recruitment. (VI) PUBLIC COMMENT There was no public comment. (VII) ADJOURNMENT A motion to adjourn was made by Commissioner Gleason and a second from Commissioner Akers. The motion was unanimously approved and the meeting adjourned at 10:00 AM. Respectfully submitted, Rod Tonelli, Economic Vitality Manager Document Number: 627745 Document Name: Economic_Development_Commission_Meeting_Minutes_May_21_25