How can we encourage new investment in older industrial communities? One Chicago Southland-area organization has figured it out.
One of the problems facing older companies in traditional industrial communities is finding the next person to run them.
If it’s not passed down from one generation to the next, as was often the case in years gone by, who’s going to do it?
Enter the Southland Development Authority (SDA), a nonprofit business organization designed to grow the economy of Chicago’s South Suburbs.
The SDA is preparing to host its second annual ACHIEVE Summit, a three-day event featuring keynote speaker sessions, workshops, a live deal showcase connecting investors with legacy businesses and real estate opportunities, and networking designed to help entrepreneurs become part of the Southland community.
With its primary focus on collaboration and networking, the summit is designed to strengthen the local entrepreneurial ecosystem and create sustainable economic pathways for those seeking new investment opportunities.
Every day, roughly 10,000 baby boomers retire, and many of them own businesses without a clear succession plan,” said Bo Kemp, CEO of the Southland Development Authority and the Founder of the Achieve Summit. “That creates both a risk for communities and a real opportunity for new entrepreneurs to step in and carry those businesses forward.”
Over the course of three days (June 4-6) at the Wind Creek Chicago Southland, this year’s summit is poised to amplify themes such as connecting founders with capital, showcasing transformative business stories, supporting economic mobility, and fostering partnerships among public, private, and community stakeholders.
What else does the SDA do?
Launched in 2019 by business, civic, and political leaders across the Southland, the SDA brings the resources and capacity to accomplish transformative, inclusive economic growth for the region by focusing on investment in industry, workforce, housing, and communities.
It has quickly established itself as a vital platform for fostering discussion about the future of entrepreneurship and economic opportunity, particularly in the Chicago Southland region.
“Over the past five years, the SDA has built an economic engine that supports 45 municipalities, which together serve over 700,000 residents,” said SDA Marketing Manager Sara Altwal.
Their mission has evolved into turning historically underinvested communities into attractive, investable markets.
Since its inception, the SDA has reached remarkable milestones, including supporting 3,600+ businesses and creating over 480 jobs.
They have driven over $211 million in actualized and projected economic impact, deployed more than $12 million in capital, and activated around 260 acres of developable land across 198 properties.
The ACHIEVE Summit aims to translate this extensive groundwork into actionable partnerships and opportunities for attendees during this event.
Themes focused on empowerment and transformation
Key themes at this year’s summit center on the critical need to connect entrepreneurs with the resources they need to thrive.
One notable theme is “entrepreneurship through acquisition”, which addresses the often-overlooked path of business ownership through acquiring existing businesses instead of starting anew.
This focus is especially relevant, as many baby boomer entrepreneurs—approximately 10,000 of whom retire each day—are seeking successors to their businesses.
Moreover, the summit emphasizes the inclusion of minority entrepreneurs and women in the acquisition space. The SDA is collaborating with the Women’s Business Development Center (WBDC) to inspire and empower women entrepreneurs to consider business acquisitions.
Altwal noted, “We aim to create a live marketplace where potential buyers can see what businesses in the south suburbs are available and connect with banks or other resources they may need.”
For attendees, this marketplace provides a unique opportunity to forge connections that might take years to establish elsewhere. “Building relationships is crucial in business; at the summit, we condense what could take a year into just a few days,” added Altwal.
Making business connections
During the summit, attendees will have the chance to explore various businesses available for acquisition.
Altwal mentioned that many of these opportunities may arise from community owners looking to sell due to retirement or a desire to pursue new ventures.
“This is essential for securing the legacies of these businesses and ensuring they don’t close their doors forever,” she explained.
Moreover, the summit functions like a “matchmaking service” for businesses.
“We help bridge the gap between owners wishing to retire and aspiring entrepreneurs who want to take ownership,” she said.
Last year, the summit successfully facilitated numerous introductions between potential buyers and sellers, showcased a curated list of businesses available, and provided comprehensive support throughout the sale process.
An exciting second edition
This year marks the second ACHIEVE Summit, following the inaugural 2025 event that featured a keynote address from Daymond John, founder and CEO of FUBU and star of ABC’s Shark Tank. This year’s keynote will be delivered by Marcus Lemonis, an entrepreneur and investor, best known as the host of FOX’s The Fixer and the former star of CNBC’s The Profit.
The summit aims to build on last year’s success by further enhancing networking opportunities and facilitating meaningful discussions among attendees.
“It’s not just about closing deals; it’s about creating a network of support that lasts long after the summit ends,” said Altwal.
Events like the ACHIEVE Summit play a crucial role in revitalizing local communities, fostering economic mobility, and enabling business owners to pass on their legacies to the next generation of entrepreneurs.
By facilitating partnerships among diverse stakeholders, including public entities, private investors, and community organizations, the summit exemplifies a collaborative approach to economic development.
By nurturing an environment where entrepreneurs can connect, share ideas, and explore acquisition opportunities, the ACHIEVE Summit plays a pivotal role in shaping the future of business in the Chicago Southland.
It not only promotes the growth of local enterprises but also fosters a community spirit aimed at collective economic prosperity.
