CHICAGO | Economic & Business Development

[Via Chicago]

Originally Posted by urbanpln

(1) The access to top notch talent. He said in the eyes of Amazon the best talent is a 24 year old EE grad from MIT. He goes on to explain that top talent isn't concern about cost of living, and that cost of living only matters when you are in your 30's and begin accumulating things, (i.e. homes, kids, and dogs). He said that Amazon doesn't really care about middle managers (older workers), and they know younger talent will pile into five bedroom apartments in Brooklyn (Gowanus) and D.C. (Adams Morgan).

(2) His second and strongest prediction is that what matters most is where does a 53 year old billionaire (Bezos) want to spend most of his time. He said that Mr. Bezos already have homes in D.C. and NYC.

I hoping he's wrong, but this guy has a winning record in making predictions about business, especially in the Tech world. I hope he's wrong, but his logic makes since to me. Check out his quick analysis on Youtube ("Amazon HQ2:The Winner Is....")

If Chicago does not land Amazon, I hope it causes the politicians and citizens in this region to wake up. Chicago is too much of a jewel to not be managed right.

even assuming that were true, how could you blame chicago's "management"? yes, the secret it out....MIT is not located in Chicago. i suppose if its a stringent requirement to be located next to MIT, Chicago will not be your choice. and secondly, bezo's housing preferences have little if nothing to do with any of this, and even if they somehow did, that is indicative of Chicago's "mismanagement" how? that whole angle is being blown way out of proportion, and this also isnt some unilateral decision. there is a board of directors, auditing committees, etc for a reason.

if it dosent go to NY does that mean NY is managed poorly? you guys need to get out of your own parochial bubbles and realize that its a big world out there and not every crown jewel is going to always drop out of the sky and land in your lap. that isnt somehow an indictment on the overall health of the city. but at this stage of the game, everyone is guessing and doing so without any sort of inside information.

[the urban politician]

^ I think Chicago's "management" isn't helping the situation in what is supposedly a very competitive situation. When Chicago loses, I wouldn't say that is the sole factor to blame, but it certainly doesn't help.

[Justin_Chicago]

FourKites raises $35 million as trucking turns to Big Data

FourKites, a fast-growing software provider to companies that ship goods by truck, has raised another $35 million.

It's a big haul for the company, which raised $13 million from Bain Capital Ventures in 2016. FourKites is riding a wave of customer growth, as well as an acceleration from trucking customers demanding real-time information about shipping. Part of that comes from an increase in two-day and same-day delivery from e-commerce companies such as Amazon. But another catalyst is a new federal law that requires U.S. truck drivers to use electronic devices to log how much time they're spending behind the wheel. FourKites integrated its software into such devices.

Article: http://www.chicagobusiness.com/artic...n-in-fourkites

[urbanpln]

Originally Posted by the urban politician

^ I think Chicago's "management" isn't helping the situation in what is supposedly a very competitive situation. When Chicago loses, I wouldn't say that is the sole factor to blame, but it certainly doesn't help.

I didn't use the best words, but I meant the political powers in this state, region, and city. Politicians who do not operate in the best interest of the progress of this city or region(socially and economically). This is aimed at all of the crooks (democrats and republicans) that operate like it's still the good old days. Shaking down developers and flexing their power for god knows what.

[marothisu]

Every single city/metro area has positive and negative aspects - every metro area has its issues. Honestly, I hate the attitude that many in Chicago think that Chicago is the only place that has problems - as if places like LA and NYC don't have their own. Sure, some maybe be more serious than others, but the general attitude is very naive and ignorant. There's no such thing as a perfect location - including one for somebody trying to spend billions of dollars to have a 50,000 person office complex. I certainly don't know which of the things Amazon or any other company thinks are absolute bad deal breakers and frankly nobody else here does either. Yeah, I think the state's financial situation is a negative, but I also don't think Chicago would have made the top 20 if it was a massive deal breaker. It wasn't just other metro areas that are down that got denied the top 20 such as Detroit and Baltimore, it was also very economically viable areas like Houston, Minneapolis, and San Diego who didn't get it either. At the end of the day, sure it might end up being a deal against some of the other top places, but the fact that Chicago is still in this thing shows that it's not as big of a deal as many believe. I honestly don't think Chicago would have made top 20 cut if they thought it was a massive dealbreaker.

[the urban politician]

https://www.businesswire.com/news/ho...o-Headquarters

[bnk]

New Chicago Amazon website

http://www.chicagoisallin.com/

[bnk]

https://www.chicagobusiness.com/real...in-post-office


February 22, 2018

Post Office developer picks up another site nearby

601W bought a 4.5-acre site west of the Old Main Post Office at 717-727 S. Desplaines St.

The developer overhauling the Old Main Post Office has added another property three blocks west of the massive office project, expanding its portfolio in an area it hopes will turn into a major corporate destination.
A venture of New York-based 601W paid $34 million this month to acquire the 4.5-acre site at 717-727 S. Desplaines St. from St. Louis-based data center developer Ascent, Cook County property records show.
The deal comes almost five years after Ascent bought the land and the vacant former Grainger warehouse on the site for $27 million, with a vision to turn it into a data center.
But that plan never materialized. Instead, Ascent has sold it to a developer that has been adding to its land bank near the hulking post office building as it prepares to open its doors later this year.

Assembling property surrounding the 2.8-million-square-foot post office gives 601W more control over its surroundings to both develop ancillary properties and prevent other land owners from putting up buildings it doesn't want nearby. The value of the land surrounding the post office could also appreciate if 601W delivers on its vision for the building.
The development site could also be marketed as a complementary piece for prospective post office tenants, ...

[marothisu]

Originally Posted by bnk

New Chicago Amazon website

http://www.chicagoisallin.com/

LOL.....interesting..

Originally Posted by bnk

https://www.chicagobusiness.com/real...in-post-office


February 22, 2018

Post Office developer picks up another site nearby

601W bought a 4.5-acre site west of the Old Main Post Office at 717-727 S. Desplaines St.

The developer overhauling the Old Main Post Office has added another property three blocks west of the massive office project, expanding its portfolio in an area it hopes will turn into a major corporate destination.
A venture of New York-based 601W paid $34 million this month to acquire the 4.5-acre site at 717-727 S. Desplaines St. from St. Louis-based data center developer Ascent, Cook County property records show.
The deal comes almost five years after Ascent bought the land and the vacant former Grainger warehouse on the site for $27 million, with a vision to turn it into a data center.
But that plan never materialized. Instead, Ascent has sold it to a developer that has been adding to its land bank near the hulking post office building as it prepares to open its doors later this year.

Assembling property surrounding the 2.8-million-square-foot post office gives 601W more control over its surroundings to both develop ancillary properties and prevent other land owners from putting up buildings it doesn't want nearby. The value of the land surrounding the post office could also appreciate if 601W delivers on its vision for the building.
The development site could also be marketed as a complementary piece for prospective post office tenants, ...

Good. That area is so weird. It would be awesome to see it developed into something a little more than what it is right now.

[Vlajos]

A Silicon Valley software company is setting up shop in Chicago, drawn to the region's tech talent, not sales.

ServiceNow, which makes software that businesses use to automate tasks such as IT administration, plans over the next two years to hire 150 engineers, developers, designers and other tech workers to build products here.

http://www.chicagobusiness.com/artic...neering-center

[the urban politician]

Originally Posted by Vlajos

A Silicon Valley software company is setting up shop in Chicago, drawn to the region's tech talent, not sales.

ServiceNow, which makes software that businesses use to automate tasks such as IT administration, plans over the next two years to hire 150 engineers, developers, designers and other tech workers to build products here.

http://www.chicagobusiness.com/artic...neering-center

I predict a lot of companies will do this, realizing that it’s really not worth it to pay a premium for all that fancy MIT talent for more than just a handful of people working on the most cutting edge projects.

And besides, UIUC is also one of the top engineering schools in the nation although I’ve heard its rankings have slipped a bit.

[marothisu]

Originally Posted by the urban politician

I predict a lot of companies will do this, realizing that it’s really not worth it to pay a premium for all that fancy MIT talent for more than just a handful of people working on the most cutting edge projects.

And besides, UIUC is also one of the top engineering schools in the nation although I’ve heard its rankings have slipped a bit.

I don't know why all my posts in response to this were moved to the Off Topic/Everything else thread, and this wasn't but I just want to say it again lightly: The thought that Silicon Valley is somehow full of MIT talent is very, very, very far from the truth.

[the urban politician]

I just thought of a new branding commercial for tourism to Chicago. Something a bit tacky, which is kind of the point:

Start with the word “Chicago”, then cut out ‘cago’ and have a beautiful woman with a foreign accent say “You had me at Chi”

Show images of Chicago, then once again end it with the above, but this time with a different beautiful woman saying it.

I love this idea!

[the urban politician]

Interesting article about the Life Sciences boom in the Chicago area:

https://www.bisnow.com/chicago/news/...ew-space-85652

[Tom In Chicago]

Moved all off topic discussion to the politics, current events and everything else thread. . .

. . .

[Kenmore]

isn't site selection just a chicago booster org?

[the urban politician]

Originally Posted by Kenmore

isn't site selection just a chicago booster org?

And what did your research on this topic reveal?

[Vlajos]

Originally Posted by Kenmore

isn't site selection just a chicago booster org?

Originally Posted by the urban politician

And what did your research on this topic reveal?

Yeah, I'm sure an industry magazine based in Georgia is a Chicago booster.

[MayorOfChicago]

ATT currently announcing a 500 employee “platinum” call center on the northwest side. I started to kinda roll my eyes at call center, but they said wages starting at $18 which is fairly solid for that industry.

[Vlajos]

Originally Posted by MayorOfChicago

ATT currently announcing a 500 employee “platinum” call center on the northwest side. I started to kinda roll my eyes at call center, but they said wages starting at $18 which is fairly solid for that industry.

http://www.chicagotribune.com/busine...306-story.html