CHICAGO | Economic & Business Development

[marothisu]

Originally Posted by the urban politician

That data from China is odd. It was one of the largest gainers from 2010-2017 but one of the largest losers from 2016-17?

If you look at the city numbers, you'll see this pattern for a bunch of countries (tho maybe not as drastic as China). 2016 you 2017 would have a sizable drop but still above 2010 or barely below. It's almost like a correction. Sometimes I seem to think that the 5 year is more accurate but not sure..

[rgolch]

Marothisu, you're like the spyguy of the economics thread .

Every time I see a thread update with your name on it, I know I'm getting some goodies.

[tjp]

Originally Posted by marothisu

If you look at the city numbers, you'll see this pattern for a bunch of countries (tho maybe not as drastic as China). 2016 you 2017 would have a sizable drop but still above 2010 or barely below. It's almost like a correction. Sometimes I seem to think that the 5 year is more accurate but not sure..

That's discouraging. I was under the impression the city's Chinese population was steadily growing, but it actually it appears to be stagnant. . . Maybe the growth in the areas around Chinatown being offset by losses from other parts of the city?

[the urban politician]

Originally Posted by tjp

That's discouraging. I was under the impression the city's Chinese population was steadily growing, but it actually it appears to be stagnant. . . Maybe the growth in the areas around Chinatown being offset by losses from other parts of the city?

^ That's not what Marothisu is saying.

He's saying that there was probably a correction made by ACS, and that it probably reflected in the 2017 figures. 2016 may have been overestimated, that's all.

[tjp]

Originally Posted by the urban politician

^ That's not what Marothisu is saying.

He's saying that there was probably a correction made by ACS, and that it probably reflected in the 2017 figures. 2016 may have been overestimated, that's all.

But I believe he's still saying that the population of people from China is still only at about 2010 levels?

[marothisu]

Originally Posted by the urban politician

^ That's not what Marothisu is saying.

He's saying that there was probably a correction made by ACS, and that it probably reflected in the 2017 figures. 2016 may have been overestimated, that's all.

Yep. I think it was a correction. It's been steadily increasing. I think we'll see this better in a few months with the 5 year ACS.

[marothisu]

By the way on this Chinese thing again...the "Chinese alone" population (born anywhere in the world) population of the city increased 1873 people from 2016 to 2017. It increased by 14,244 people from 2011 to 2017 in the city.

Asian alone born anywhere in the world, 2011 to 2017 changes for Chicago city
Chinese: +14,244 people
Indian: +9651 people
Filipino: +6281 people
Other Asian: +6010 people
Vietnamese: +2939 people
Korean: +338 people
Japanese: -1007 people

Asian alone born anywhere in the world, 2016 to 2017 changes for Chicago city
Other Asian: +6000 people
Filipino: +4729 people
Korean: +2077 people
Chinese: +1873 people
Vietnamese: -270 people
Japanese: -2402 people
Indian: -2800 people

Asian alone born anywhere in the world, 2011 to 2017 changes for Chicago MSA
Indian: +49,839 people
Other Asian: +21,068 people
Chinese: +13,826 people
Filipino: +8232 people
Vietnamese: +6457 people
Japanese: +547 people
Korean: -12,027 people

Asian alone born anywhere in the world, 2016 to 2017 changes for Chicago MSA
Filipino: +5009 people
Other Asian: +3707 people
Korean: +2940 people
Vietnamese: +2913 people
Chinese: +891 people
Indian: -1174 people
Japanese: -4026 people

[twister244]

I thought for sure you Chicago folks would have been all over the news about Amazon making a second visit to the South Loop.......

http://www.chicagotribune.com/busine...926-story.html

I would have posted this in the HQ2 thread, but I believe that's still locked. Pretty big news as this is the first I have heard of a second visit to any of the top 20 cities, unless I am mistaken.

[SIGSEGV]

There's some action in the 78 thread.

[marothisu]

Originally Posted by twister244

I thought for sure you Chicago folks would have been all over the news about Amazon making a second visit to the South Loop.......

http://www.chicagotribune.com/busine...926-story.html

I would have posted this in the HQ2 thread, but I believe that's still locked. Pretty big news as this is the first I have heard of a second visit to any of the top 20 cities, unless I am mistaken.

Realistically it's good news, but also doesn't mean it's a lock. I expect a company who is going to invest a few billion in a city and also build a bunch of new buildings is going to visit the places they are truly interested in more than once. I'm very sure that Chicago was not the only city they visited more than once. However, I also wouldn't be surprised to see some cities visited only once that they determined weren't of interest anymore.

[rgolch]

Originally Posted by marothisu

Realistically it's good news, but also doesn't mean it's a lock. I expect a company who is going to invest a few billion in a city and also build a bunch of new buildings is going to visit the places they are truly interested in more than once. I'm very sure that Chicago was not the only city they visited more than once. However, I also wouldn't be surprised to see some cities visited only once that they determined weren't of interest anymore.

I dunno.... I still feel like a Rahm departure means HQ2 is a lot less likely for Chicago. But as others have suggested, there may be significant Amazon satellite sites in addition to HQ2. I'd be willing to bet Amazon will significantly increase it's presence in Chicago in the coming years.

[sukwoo]

Originally Posted by rgolch

I dunno.... I still feel like a Rahm departure means HQ2 is a lot less likely for Chicago. But as others have suggested, there may be significant Amazon satellite sites in addition to HQ2. I'd be willing to bet Amazon will significantly increase it's presence in Chicago in the coming years.

Amazon would be smart to distribute more of its office sites across various political jurisdictions. They will probably have a bullseye on them for anti-trust violations in the future, and having more Congressmen and Senators in their pocket will come in handy.

[LouisVanDerWright]

Originally Posted by rgolch

I dunno.... I still feel like a Rahm departure means HQ2 is a lot less likely for Chicago. But as others have suggested, there may be significant Amazon satellite sites in addition to HQ2. I'd be willing to bet Amazon will significantly increase it's presence in Chicago in the coming years.

Or Rahm is leaving because he knows we are going to get it and will walk into the 2020 presidential race saying "I stuck it to Trump on immigration, I lowered the budget deficit from $680 million to $90 million, and I got every single corporate relocation ever to Chicago including the biggest one ever: Amazon.

You would think Amazon wouldn't like this, but since everyone else likes to postulate that Bezos wants to locate in DC so he can "be by the politics" (which is a moronic line of reasoning) I'll throw this out there:

Rahm is going to not only leave office while he is wayyyy ahead fresh off winning Amazon, but he's also going to give Bezos all the entitlements he leaves just before leaving office at literally no political cost to himself since he's not even running in exchange for Bezos, who obviously makes business decisions based on his political leanings ( ) backing his run for president in DC, in SF, and with the Washington Post.

Bezos shouldn't care about whether Rahm continues to be Mayor because once he gets the entitlements and Related starts work on permits and development costs start stacking up, it will be damn near impossible for any future elected officials to revoke those entitlements as it will constitute a taking and trigger a lawsuit the city will almost certainly lose.


Chew on that, if it's fair to speculate that Bezos would locate based off where he bought a house, then it's fair to speculate that he would locate based on propelling a political ally to the oval office. Talk about a way to avoid anti-trust action...

[Donnie77]

Something tells me Boeing is going to need a new office tower in Chicago!

http://www.thedrive.com/the-war-zone...t-trainer-deal

Sure this is just pure speculation but this would be the perfect thing to get the Tribune tower moving!

[Baronvonellis]

Originally Posted by LouisVanDerWright

Chew on that, if it's fair to speculate that Bezos would locate based off where he bought a house, then it's fair to speculate that he would locate based on propelling a political ally to the oval office. Talk about a way to avoid anti-trust action...

Haha, that's genius if it's true, if anyone could pull something off it's Rahm! I've been watching the show The Borgias lately. About the super devious Pope Alexander VI in 1492. Him and his son practically invented Machiavellian politics. And it's said Machiavelli wrote The Prince about the popes son Cesare Borgia as he was contemporary of Cesare.

Anyway, it's so interesting how politics in the 15th century involved poisoning your political enemies who got in the way! Imagine if Rahm had become Mayor by poisoning Daley! And then Bill Daley then tried to poison Rahm now! Politics seems so tame now, compared to the literal life or death politics they played back then. Or if you disagreed with the Governor in Springfield you would send an army to knock down his castle and persuade him with your army and cannons! If you lost in politics you also lost your life!
Imaging the chaos the people must have felt back then, with armies marching across Illinois anytime there was a political disagreement!

[marothisu]

Originally Posted by Donnie77

Something tells me Boeing is going to need a new office tower in Chicago!

http://www.thedrive.com/the-war-zone...t-trainer-deal

Sure this is just pure speculation but this would be the perfect thing to get the Tribune tower moving!

Boeing's HQ in Chicago is merely a small csuite office. This would not add many people if it adds any at all.

[F1 Tommy]

Originally Posted by marothisu

Boeing's HQ in Chicago is merely a small csuite office. This would not add many people if it adds any at all.

Very true. What Illinois should be going after is the factory that builds the new trainers. I can see them ultimately partly being built at the plant or an addition to the plant in St louis.

[marothisu]

Chicago unicorn Avant is hiring 50 software engineers, forming a new company for banks that use its lending tech

http://www.chicagotribune.com/busine...921-story.html

[quote]Chicago-based online lender Avant is launching a new company to oversee the services it provides to banks and aiming to hire 50 tech employees in the next year to help grow the software offering.

Amount, as the company will be called, provides technology to banks, powering their lending activity, running online fraud prevention and helping with compliance, among other services.[quote]

Avant and Amount will be separate businesses under the Avant holding company, Goldstein said. The two businesses will share Avant’s Loop headquarters. The company employs about 550 people, all but 100 of whom are in Chicago. It plans to bring on about 50 additional software engineers in the next year.

--


HomeAdvisor Is Opening A New Sales Office in Chicago At WeWork

https://www.americaninno.com/chicago...ago-at-wework/

HomeAdvisor, the online marketplace that connects homeowners with home-improvement professionals, is opening a new sales office in Chicago at one of the largest co-working companies.

The Golden, Colo.-based company announced Tuesday that its office will span two WeWork locations in River North. Initially, HomeAdvisor will move into the WeWork at 20 W. Kinzie St. in October, but will expand into the neighborhood’s newest location at 515 N. State St. when it opens in November.

HomeAdvisor says it is now hiring for sales roles in the Chicago offices, planning to open with about 25 to 50 employees.

[marothisu]

I calculated 6+ figure earning households by MSA for 2017 and also change since 2010. Table is B19001 from the 1 year ACS (2017)

MSAs by 6+ Figure Earning Households
1. New York MSA: 2,786,292 households
2. Los Angeles MSA: 1,50,1291 households
3. Chicago MSA: 1,154,635 households
4. Washington DC MSA: 1,099,082 households
5. San Francisco MSA: 867,579 households
6. Dallas MSA: 819,261 households
7. Boston MSA: 794,490 households
8. Philadelphia MSA: 780,658 households
9. Houston MSA: 730,740 households
10. Atlanta MSA: 635,930 households

MSAs by Change in 6+ Figure Earning Households from 2010 to 2017
1. New York MSA: +705,462 households
2. Los Angeles MSA: +412,375 households
3. Chicago MSA: +306,507 households
4. Dallas MSA: +288,440 households
5. San Francisco MSA: +279,821 households
6. Houston MSA: +244,118 households
7. Seattle MSA: +239,684 households
8. Washington DC MSA: +233,553 households
9. Boston MSA: +218,831 households
10. Atlanta MSA: +217,723 households

[the urban politician]

^ Chicago seems to be doing sorta par for the course here. Not great, but not bad