There’s still time to nominate business leaders for induction into the new Lawrence Business Hall of Fame.

The selection committee meets Wednesday, so get your suggestions in soon, said Dale Willey, chairman of the hall’s steering committee.

“Time is of the essence,” Willey said Monday, addressing 120 members of the Lawrence Rotary Club at Alvamar Country Club.

Willey, president of Dale Willey Automotive, said the first three inductees would be chosen from among nominations received by Wednesday. Two laureates will be living; one will be inducted posthumously.

A permanent home for the hall could be announced later this month, Willey said.

Inductees will be recognized during a black-tie event in September. Proceeds will finance Junior Achievement programs, which teach young people about business and economics, the challenges of the free enterprise system and the importance of staying in school.

Chuck Warner, a retired bank president, is looking forward to the hall honoring business leaders who give back to the community.

“When I was working, it was hard to get the bankers in the early days to do their work, because they were on so many (community) boards,” said Warner, who retired a few years ago after 20 years in the business. “This is a good way to recognize business people for that.”

For more information about the hall and how to nominate someone for induction, visit LawrenceBusinessHallofFame.org.