CHICAGO | Economic & Business Development - Page 227

galleyfox · #**4521** Posted **Apr 27, 2022, 1:17 PM**

Quote:

Cybersecurity firm adds office space
A cybersecurity software company based in Tel Aviv is increasing its presence in Chicago.

The company, based in Tel Aviv, opened a Chicago office last year but recently tripled its space, leasing 7,500 square feet at 550 W. Van Buren St.

Coro has 67 employees in Chicago, mostly in sales. It expects to add an additional 100 this year, with plans to reach 200 workers in 2023.

https://www.chicagobusiness.com/john-ple...firm-based-tel-aviv-leases-space-chicago

bnk · #**4522** Posted **Apr 28, 2022, 1:59 PM**

United Airlines adding 1000 local jobs. Even ramp workers making 90K

https://chicago.suntimes.com/business/20...light-attendant-technician-ohare-airport

Kind of old news, they had a job fair April 13th, but I'm sure they are still hiring.

https://www.united.com/ual/en/us/fly/company/career/chicago-career-fair.html

twister244 · #**4523** Posted **May 5, 2022, 4:24 PM**

Well Shit.... I just got a WSJ notification that Boeing is leaving Chicago for Arlington, VA.......

the urban politician · #**4524** Posted **May 5, 2022, 4:40 PM**

^ It was only a matter of time. Government contracting is a HUGE business for them

Kngkyle · #**4525** Posted **May 5, 2022, 4:40 PM**

Quote:

Originally Posted by twister244

Well Shit.... I just got a WSJ notification that Boeing is leaving Chicago for Arlington, VA.......

The Lightfoot legacy continues. The opposite of Rahm in almost every way. Complete disregard for the CTA and zero interest in attracting or retaining businesses.

marothisu · #**4526** Posted **May 5, 2022, 4:43 PM**

Quote:

Originally Posted by Kngkyle

The Lightfoot legacy continues. The opposite of Rahm in almost every way. Complete disregard for the CTA and zero interest in attracting or retaining businesses.

I think they've been weighing a move for a few years now. In all honesty, it makes sense. But it sucks for Chicago to lose that.

the urban politician · #**4527** Posted **May 5, 2022, 4:44 PM**

^ But at least we get to keep our word salad of justice, equity, diversity, and inclusion!

Reality is, though, I suspect even with Rahm Boeing might have left. At least we got to keep them for 21 years.

If it's any consolation, there were very few jobs here from Boeing, and that never changed. Always just a hundred or two, mostly executive suite people.

Handro · #**4528** Posted **May 5, 2022, 4:47 PM**

The tax credits were to last 20 years when they moved 20 years ago. Boeing stopped trying to be a leader in aviation 20-30 years ago and are all about the $$ now. The original move to Chicago was a part of that change in direction.

twister244 · #**4529** Posted **May 5, 2022, 4:50 PM**

Quote:

Originally Posted by Kngkyle

The Lightfoot legacy continues. The opposite of Rahm in almost every way. Complete disregard for the CTA and zero interest in attracting or retaining businesses.

Yeah.... I get that Boeing was probably going to leave (based on the discussion here), but LL should be trying to fill that gap with someone else.

animositisomina · #**4530** Posted **May 5, 2022, 4:52 PM**

Boeing never really had a large presence in Illinois/Chicago. I know the jobs here are/were all high-paying executive positions, but they have a larger presence in 10+ other states. I was hoping they'd add more manufacturing jobs here and outside of adding a few in the Metro East 10 years ago, they never really expanded their presence in the state in the past 20+ years following the HQ move.

Via Chicago · #**4531** Posted **May 5, 2022, 4:53 PM**

this always felt like a bragging rights HQ than a meaningful local employer. everyone likes the big logo slapped up on the side of the building and to be able to say "bOeInG iS bAsEd iN cHiCaGo", but at the end of the day i dont think too many people are going to notice one way or the other. the notion the state of the CTA or any other local issues are playing a role in this decision is silly IMO. Chicago never made a ton of sense for them in the first place, i always found it to be an odd fit.

Handro · #**4532** Posted **May 5, 2022, 4:54 PM**

Quote:

Originally Posted by Via Chicago

this always felt like a bragging rights HQ than a meaningful local employer

This exactly.

marothisu · #**4533** Posted **May 5, 2022, 5:06 PM**

Quote:

Originally Posted by animositisomina

Boeing never really had a large presence in Illinois/Chicago. I know the jobs here are/were all high-paying executive positions, but they have a larger presence in 10+ other states. I was hoping they'd add more manufacturing jobs here and outside of adding a few in the Metro East 10 years ago, they never really expanded their presence in the state in the past 20+ years following the HQ move.

Just want to point out that just because they're moving HQ doesn't mean every single high ranking executive that lives in the Chicago area will move. Even at my company, there's a major division HQ'd in Chicago but the CEO and a few other execs are in NYC, while there's some others in Chicago, and others in Florida and California. When you get to large companies like Boeing, you'll find this is the case.

animositisomina · #**4534** Posted **May 5, 2022, 5:14 PM**

Interesting article from back in September about how Boeing's HQ had become a "Ghost Town":

https://www.reuters.com/business/aerospa...-ghost-town-priorities-shift-2021-10-07/

Quote:

Chicago, Cook County and Illinois awarded Boeing more than $60 million in tax and other incentives over 20 years to relocate. Those credits have expired or will expire at year-end, though Boeing will receive 2021 funds next year, the spokesperson said.

The incentives, which were temporarily swept up in a trade spat with Europe's Airbus over mutual claims of unfair support, required Boeing to keep 500 full-time employees at the office.

Boeing reported 513 full-time employees in Chicago for 2020, a city spokesperson said.

Boeing also employs thousands of people in Chicago and the Metro East region in southern Illinois near St. Louis, a state spokesperson said.

But analysis last year by the Better Government Association, which scrutinizes Illinois state decisions, found that Boeing fell short of the 500-employee mark in at least four years.

"Numbers reported by the company to the state and city differ, have never been audited, and in some years fell short of the public target," it said.

The indirect impact from Boeing employees in the Chicago area had been pegged at $4.3 billion over 20 years, Pam McDonough, a former director of the Illinois Department of Commerce and Community Affairs, said in a LinkedIn article last year.

"These large projects are complicated and strategic but do result in tremendous benefits both financial and civic."

the urban politician · #**4535** Posted **May 5, 2022, 5:24 PM**

Quote:

Originally Posted by marothisu

Just want to point out that just because they're moving HQ doesn't mean every single high ranking executive that lives in the Chicago area will move. Even at my company, there's a major division HQ'd in Chicago but the CEO and a few other execs are in NYC, while there's some others in Chicago, and others in Florida and California. When you get to large companies like Boeing, you'll find this is the case.

Exactly. Nowadays HQ are just not as important as they once were.

It even doesn't matter where the CEO lives, as often they can work remotely from the company offices.

What matters is the skyscrapers and the cuisine

Via Chicago · #**4536** Posted **May 5, 2022, 5:33 PM**

it would be devastating if they were actually emptying out an entire skyscraper, but im not even sure they fill an entire floor

Steely Dan · #**4537** Posted **May 5, 2022, 5:39 PM**

Quote:

Originally Posted by Kngkyle

The Lightfoot legacy continues.

this is not LL's doing.

rumors of boeing moving their HQ again have been swirling for some time now.

their meager HQ C-suite footprint here in the windy always felt rather tenuous at best. they slapped their logo up on a building along the river, they did a few "good corporate citizen" sponsorships, and otherwise had a pretty minimal impact on this town's overall worth other than a CTB bragging rights feather in the cap.

And given the company's numerous recent failings, maybe we're better off no longer being associated with the brand.

ChiMIchael · #**4538** Posted **May 5, 2022, 6:06 PM**

Even if this shouldn’t have a big impact, the doomsday community is gonna have a field day with this.....

marothisu · #**4539** Posted **May 5, 2022, 6:06 PM**

Quote:

Originally Posted by Steely Dan

this is not LL's doing.

No, you forgot. Everything is the fault of whatever mayor is in office at the time especially the judicial system which is independent of the executive branch.

It's kind of obvious that boeing just wants their tax breaks. They moved here to get them and now that it's running out and apparently Chicago doesn't want to shell out millions to keep them - they'll go to Virginia.

Kngkyle · #**4540** Posted **May 5, 2022, 7:55 PM**

I get that this Boeing case is a little unique and Lightfoot nor Rahm could have likely done anything to stop it, but my point was more in general. What has Lightfoot done to attract business to Chicago? What has Lightfoot done to improve transit in Chicago? What has Lightfoot done to strengthen the economic engine of our region?

I'm listening.

I get that there wasn't a better alternative in the previous election and it doesn't look like there is going to be a better alternative in the next election, so we are likely stuck with what we got. But what we got ain't good.