CHICAGO | Economic & Business Development

[Kenmore]

it's definitely not going to happen, not only does the company have a trash rep and word that means little, the president pimping this out as a win is also a serial liar.

[bnk]

Well if it does happen its only going to be 3 times the size of the Pentagon. And 5 times the size of the Boeing plant in Everett.





http://www.chicagobusiness.com/artic...efits-illinois

July 27, 2017

What Illinois stands to gain from losing huge Foxconn factory



Illinois may have lost the big Foxconn prize to Wisconsin, but the Kenosha area is close enough to the state line that big job and investment opportunities exist here, and the state will move aggressively to grab them.
That's the word from Mark Peterson, the new head of Intersect Illinois, the public/private economic development unit formed by Gov. Bruce Rauner.
In an interview, Peterson did not deny that Illinois would have liked to have won, and made a bid for, the Taiwanese company's LCD factory, which promises to create 3,000 jobs initially and as many as 13,000 eventually. He suggested much of the motivation was political, quipping, "I don't think it's a coincidence that (the location) happens to be in the district of the speaker of the (U.S.) House," Paul Ryan.
But the Kenosha area is so near that there's a lot of potential for Illinois job-seekers and suppliers.

And the benefits Illinois derives from Wisconsin's deal comes without having to pay out a reported $3 billion in incentives.
"When you need that many people and a company ramps up as fast as Foxconn intends, it will be difficult for Wisconsin to meet all of their needs," Peterson said. "The reality is, it's a pretty short trip for people (who live) in Lake and McHenry counties, or even Cook. We have a lot of people that can benefit."
"Employers are agnostic about where people live," Peterson added. "They (just) want quality."
PLUGGING IN
In that vein, Intersect Illinois already has been talking with county officials about how to plug local folks into Foxconn Technology Group's talent search, and has had preliminary talks with the company that likely will be followed by a fuller discussion later this year, he said.
"We want to talk to them about what they need," he says. "What can we do to customize (through worker training and other programs)?"
The state also may facilitate a connection between Foxconn and Northwestern University, Peterson said. Foxconn likes to work with academic institutions, and engineering-heavy NU "has a lot of things that could be beneficial."
Overall, he said, Illinois "is thrilled" that the facility will be located nearby.

SUPPLIER POTENTIAL

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[Kngkyle]

I think we will see many more big announcements like this especially when it's getting closer to 2020 and in swing states. I also expect almost none of them to actually happen, or a dramatically scaled down version at best. Which is probably for the best given the mammoth size of the subsidies being handed out to land these PR 'wins' for Trump.

[the urban politician]

The more I read about Foxconn, the more this news makes me giggle. This is clearly not going to happen, at least at the level they are making us expect. I'm going to ignore this news until shovels are in the ground.

[ardecila]

Originally Posted by Kngkyle

I think we will see many more big announcements like this especially when it's getting closer to 2020 and in swing states. I also expect almost none of them to actually happen, or a dramatically scaled down version at best. Which is probably for the best given the mammoth size of the subsidies being handed out to land these PR 'wins' for Trump.

Yes, Trump is finding out that it's easier to just buy good news with taxpayer money, than to actually solve the systemic problems affecting the economy.

[IrishIllini]

Did Foxconn provide a timeline for when the plant would open?

[marothisu]

Originally Posted by the urban politician

The more I read about Foxconn, the more this news makes me giggle. This is clearly not going to happen, at least at the level they are making us expect. I'm going to ignore this news until shovels are in the ground.

I showed my girlfriend (who's from China) this type of news and she just kind of laughed. She has mentioned more than once that Foxconn is a terrible company to work for and has a really bad reputation in Asia as an employer.

I'm frankly more concerned with the supplier network which I think would benefit Chicago. The thing is that some of these suppliers might not need to be right next to there too - really depends on what they do. Some like to be on the campus or next door but some are within a few hours drive. There is a huge IBM office/factory in southern Minnesota but I know that some of the suppliers chose to set up shop in the Minneapolis area, which is 75+ miles away and some even further in Wisconsin (still in the Minneapolis area). Some actually rented out space at the IBM facility itself, but they were maybe providing them bigger components. For example, Hitachi providing hard drives for servers might be right there, but the company who's supplying various chips might be somewhere else to also tap into other markets.

We'll see what happens here if anything ever comes of this.

[the urban politician]

Originally Posted by IrishIllini

Did Foxconn provide a timeline for when the plant would open?

Some time between now and never

[Vlajos]

Cloud company iManage adds room for 100 more employees in Chicago headquarters

http://www.chicagotribune.com/busine...31-column.html

[Justin_Chicago]

Freelance marketplace Upwork opens Chicago office, expects staff of 100

The massive freelancer site Upwork opened an office this week in Chicago that it expects will employ 100 people by the end of next year as it caters to continued growth in demand for freelance work.

Upwork, based in Silicon Valley, has about 12 million freelancers using its platform to find jobs, and it adds 12,000 more daily, said Eric Gilpin, senior vice president of enterprise at Upwork and head of the Chicago office. About 5 million employers have sought on-demand talent on the site.

The Chicago office, on North Desplaines Street in the Fulton River District, will house a customer-facing team focused on large clients with many freelance workers, a fast-growing segment of Upwork's customer base, which use the service not only to find skilled freelancers but also to manage contracts, track work, make payments and ensure compliance with laws around classifying workers as independent contractors. The jobs will include inside and outside sales, customer support and back-office roles.

article: http://www.chicagotribune.com/busine...801-story.html

[Justin_Chicago]

Chicago ties with Orlando as top choice for convention planners

Move over Cubs, Chicago is also the champion when it comes to the choice locale for destination meetings, conferences and conventions, according to a new survey.

Sixty-seven percent of the meeting planners queried in the survey chose Chicago, which tied with Orlando, Fla., as the top conference destination. The survey, conducted by research and marketing firm STR, queried planners of large meetings consisting of 1,000-plus attendees.

The city is well-regarded by meeting planners for its safe environment, cleanliness, attractiveness, ease of access and value, according to STR.

A majority of meeting planners also take into consideration other factors at convention centers including adequate seating, reasonable rental rates, helpful staff and adequate hotel rooms nearby, the survey said.

After Chicago and Orlando, the top destinations for meeting planners were Washington, D.C., with votes from 66 percent of planners, San Diego with 64 percent and Las Vegas with 62 percent. Survey respondents could vote for more than one destination.

What meeting planners shy away from when it comes to choosing conference locations are environmental deterrents, such as locations that are unsanitary or unsafe, and bad publicity, according to the survey.

The survey did not address which factors make Chicago a magnet for conferences and conventions. But David Whitaker, CEO of Choose Chicago, the city's tourism arm, said that the acknowledgment, while thrilling, is no surprise.

"It's not something that's a one-year phenomenon, this is a position and brand that has been well-established and nurtured for decades," Whitaker said.

"Clearly when people think of Chicago and they think of McCormick (Place) they think of one of the top convention centers and towns in the country," he added.

Last year, Chicago hosted 78 meetings, including 31 major conventions, meaning that there were at least 3,000 hotel rooms blocked for the event.

article: http://www.chicagotribune.com/busine...803-story.html

[the urban politician]

^ Good news.

I think Chicago will regain its crown as convention king. One of the reasons is the rebounding local economy, but also the consolidation of HQ's here, the renewed investment around McCormick, and the simple fact that Chicago is head and toes above Orlando in regards to things to do. Yes we don't have Disney World and Universal Studios, but I'm thinking that the city experience will win out in the end with your typical conventioneer. Especially in this day and age where companies are scrutinizing expense accounts more, making it less common for people to bring along their whole families. If I were going to a convention alone as a Mom or Dad would I go to Orlando or Chicago?

Even Vegas has a disadvantage. I would rather go to Chicago alone than to Vegas. Vegas is all about groups of friends. Meanwhile your solo conventioneer in Chicago can sightsee, go on a boat ride, stroll the waterfront, take in great museums, shop & dine, etc

[rgolch]

Originally Posted by the urban politician

^ Good news.

I think Chicago will regain its crown as convention king. One of the reasons is the rebounding local economy, but also the consolidation of HQ's here, the renewed investment around McCormick, and the simple fact that Chicago is head and toes above Orlando in regards to things to do. Yes we don't have Disney World and Universal Studios, but I'm thinking that the city experience will win out in the end with your typical conventioneer. Especially in this day and age where companies are scrutinizing expense accounts more, making it less common for people to bring along their whole families. If I were going to a convention alone as a Mom or Dad would I go to Orlando or Chicago?

Even Vegas has a disadvantage. I would rather go to Chicago alone than to Vegas. Vegas is all about groups of friends. Meanwhile your solo conventioneer in Chicago can sightsee, go on a boat ride, stroll the waterfront, take in great museums, shop & dine, etc

What's more is, Chicago has a more serious business image, making it seem more legit for work related conferences. But let's be clear, it looks like the study is just a survey. It remains to be seen if that translates into more actual conventioneers coming in......

[marothisu]

June employment statistics are out for Chicago:

* Number of people in the labor force increased by 30,385 people from May 2017 to June 2017.

* Number of people in the labor force is down compared to June 2016, but still higher than any month in the 3 years prior to the recession by a minimum of 25,000 people.

* The growth in labor force between January 2017 and June 2017 was 1.9%. Same time period in 2016 was 2.3%. Similar, but not doing as well.

* Number of employed persons increased by 15,360 people from May 2017 to June 2017.

* The number of employed persons has increased 34,620 since January 2017 or 2.7%. Between January 2016 and June 2016, that increase was 31,688 or 2.5%. Similar growth, but doing a little better than the same time period in 2016 in this regard.


* Unemployment rate jumped up 0.9%, but is still 1.3% lower than June of 2016 and still 0.7% lower than January

* Along with the above, the number of unemployed persons jumped up 14,000 people but it is still nearly 10,000 people below what January 2017 was and 20,000 people under what June 2016 was.


If you are curious how LA and NYC were? They also had increases in unemployment and also labor force and employed persons. Chicago had bigger raw number (and thus percentage) increases from May to June compared to LA and NYC though in regards to labor force and employment. LA's labor force only grew about 2600 people from May to June.




Here's my thoughts about this from a Chicago perspective: Good increase in people with jobs (who they are? who knows) and people in the labor force, and it looks like a bunch of people who previously weren't in the labor force and without jobs (discouraged workers) have now entered the labor force. This is a good sign and will be interesting to see what the numbers are in the next few months.

[Chi-Sky21]

Just curious. How do they track (discouraged workers) and when they start looking for work again?

[marothisu]

Originally Posted by Chi-Sky21

Just curious. How do they track (discouraged workers) and when they start looking for work again?

I think there's another way. My statement was more of that I'm inferring it based on the data. The labor force increased, as did the employment. When discouraged workers re-enter the labor force, it usually brings an uptick in both unemployment and labor force. In Chicago's case (and other growing cities), the number of employed persons went up too which is why I think all of this together means that previously discouraged workers are re-entering the labor force. As the employment went up by so much, it probably encouraged people that jobs are out there for them right now which could have led a bunch to re-enter the labor market, but as unemployed persons.

I'm not sure how they track who is actually discouraged versus who is retired and what not, but there is such a thing as labor participation rate. For example the percentage of people in the labor force versus the total number of people in that geography in certain age brackets (like 16 to 65 or something like that).

[the urban politician]

Originally Posted by Chi-Sky21

Just curious. How do they track (discouraged workers) and when they start looking for work again?

^ See how many people are in the local bars at 3 o'clock in the afternoon on Tuesday?

[Steely Dan]

Originally Posted by the urban politician

^ See how many people are in the local bars at 3 o'clock in the afternoon on Tuesday?

go earlier. 3 o'clock is miller time for a lot of guys in the trades who like to do 7-3 shifts when they can get them.

[emathias]

Originally Posted by the urban politician

...
Even Vegas has a disadvantage. I would rather go to Chicago alone than to Vegas. Vegas is all about groups of friends. Meanwhile your solo conventioneer in Chicago can sightsee, go on a boat ride, stroll the waterfront, take in great museums, shop & dine, etc

One of our executives has said flat out that he won't sign off on anyone going to a Vegas convention because it seems to encourage bad behavior on the trip by employees. He said he's had to fire two otherwise stellar managers because of behavior at Vegas conventions, the kind of behavior that leaves the Company open to expensive, embarrassing lawsuits.

[marothisu]

Originally Posted by emathias

One of our executives has said flat out that he won't sign off on anyone going to a Vegas convention because it seems to encourage bad behavior on the trip by employees. He said he's had to fire two otherwise stellar managers because of behavior at Vegas conventions, the kind of behavior that leaves the Company open to expensive, embarrassing lawsuits.

Vegas is the most overrated "city" in America. Even someone like me who actually likes certain aspects of gambling doesn't like Vegas. The nightlife is overrated too for the most part.