CHICAGO | Economic & Business Development

[marothisu]

It's good when your taxes actually go to something good...

[BorisMolotov]

Education starts at home with commitment from parents/guardians. When there is no help on that end (for a myriad of reasons) children are doomed from the start. I'm just not sure we can really do anything about that currently without starting to get into unethical territory.

[SIGSEGV]

Maybe some lessons from behavioral economics apply. Instead of just offering free birth control, birth control should be provided by default and one would have to opt out instead.

To make this more Chicago related, here's a link to Rahm's podcast with Economics Nobel Prize winner Richard Thaler, where the impact of behavioral economics on retirement plans is discussed (EDIT: actually, maybe not, maybe I mixed it up with another one...). https://soundcloud.com/chicagosmayor...al-nobel-prize

[marothisu]

I liked this OpEd and think there's a good amount of truth to it. It's written by a founder of West Loop Ventures and Hyde Park Angels (VC)

https://www.chicagobusiness.com/opin...os-amazon-loss

[IrishIllini]

Originally Posted by marothisu

I liked this OpEd and think there's a good amount of truth to it. It's written by a founder of West Loop Ventures and Hyde Park Angels (VC)

https://www.chicagobusiness.com/opin...os-amazon-loss

Surprised no one has commented on this. I found this OpEd to be interesting as well. It's very balanced and well written. We definitely need some fresh faces in both state/local politics and the business community. It's tough to be a contrarian though, especially when you're up against the machine.

[urbanpln]

Originally Posted by IrishIllini

Surprised no one has commented on this. I found this OpEd to be interesting as well. It's very balanced and well written. We definitely need some fresh faces in both state/local politics and the business community. It's tough to be a contrarian though, especially when you're up against the machine.

I'm not surprised at all. This type of attitude runs very deep in this City and region. It's in the blood stream of the region. There are a lot of people who want to change it, but it is a formidable challenge. Too many people benefit from this system and many more are infatuated by it. I also believe this type of attitude is slowly changing, although not fast enough.

I still see great potential in this City. That's why I continue to live here. I feel like I do my part to improve the social, racial, and physical environment through my work and community involvement. I've met tons of people who are working to change the mindset that exist in this region. Some of them are established politicians. Changing the political and business environment will probably take an economic revolution (some booming new industry is started here and takes off). I sure NYC had similar traits until the finance and media industries exploded in the 80's.

[the urban politician]

DHL building a 24k sf innovation center in the Chicago area, no idea how many jobs are involved:

https://www.chicagobusiness.com/logi...ses-e-commerce

[tjp]

Salesforce to add 1,000 jobs in new Chicago riverfront skyscraper

https://www.chicagotribune.com/busin...128-story.html



1,000 is the minimum they need to hire by 2023 to qualify for the tax credits. I'm assuming / hoping they'll be hiring many more considering they're increasing their square footage in the city from 200,000 to 500,000...

edit - i see this was already discussed in the Salesforce Tower thread.

[Randomguy34]

Separate from the Salesforce news, 2,000 new job expansions for 2018 and 2019 in fintech, supply chain, AI, and marketing.

Mayor Emanuel Announces Local Tech Companies Adding 2,000 Jobs in Chicago
https://www.cityofchicago.org/city/e...r/TechDay.html

[marothisu]

Posted in the general thread, but maybe it's better here

New ACS numbers are out, which means new community area populations for 2017. Lakeview is officially over 100K people now - 100,470 people. Near North, West, South, and the Loop together grew 4168 people from 2016 to 2017. That is 2.01% growth in a year - total population of over 211K now of those 4 areas. A big chunk of that was Near North at +2550 people, or about a 3% growth in that year.

Of the 77 community areas, 32 of them lost population while 45 of them gained population. Of the 32 that lost population, 7 of them lost less than 100 people each. Pullman for example lost 7 people - for many of these, the margin of error may cover it.

Top Growth CAs
1. Avondale: +7351 people (I think this is more of a correction considering the Census estimated Avondale lost 9704 people from 2015 to 2016 - so change from 2015 to 2017 is still -2353 people)

2. Near North Side: +2550 people
3. West Ridge: +2492 people
4. Belmont Cragin: +1801 people
5. Uptown: +1677 people
6. Norwood Park: +953 people
7. Garfield Ridge: +910 people
8. The Loop: +870 people
9. South Lawndale: +868 people
10. North Center: +847 people
11. Bridgeport: +843 people
12. Montclare: +792 people
13. East Side: +758 people
14. Clearing: +691 people
15. South Chicago: +662 people

Bottom CAs (losing population)
1. Austin: -2351 people
2. New City: -1532 people
3. Chicago Lawn: -1167 people
4. Englewood: -945 people
5. West Englewood: -869 people
6. West Town: -837 people
7. Woodlawn: -817 people
8. Irving Park: -811 people
9. West Elsdon: -722 people
10. O'Hare: -698 people
11. Greater Grand Crossing: -695 people
12. Logan Square: -679 people
13. Morgan Park: -657 people
14. West Lawn: -487 people
15. Rogers Park: -438 people


More to come..

[sentinel]

A close friend who works in the industry told me something potentially juicy yesterday: Netflix is scoping out a large warehouse not too far south from Cinespace's current location (cannot yet divulge actual location), in order to convert it to another studio space...and they want to have the lease for at least 5 years, so as to produce anywhere between 5-10 new shows. With the incoming Governor keen on extending tax credits for film production in Illinois for another 10 years, there could continue to be a thriving local film industry well into the late 2020s. Fox apparently loves filming here, and they are also looking to expand their lineup with a couple of new shows, slated to begin production in 2019-early 2020.

Oh and forgot this: he also said there are rumblings in the entertainment industry that some studios currently operating in Georgia are incredibly PISSED at the recent election for Governor there, and are actively looking at Chicago (and Toronto to a lesser extent) to shift major productions away from Atlanta. A lot of studios feel that Georgia state leadership and the GOP in general do not have their interests in mind, and would rather work north again, with or without tax credit incentives.

[marothisu]

Originally Posted by sentinel

A close friend who works in the industry told me something potentially juicy yesterday: Netflix is scoping out a large warehouse not too far south from Cinespace's current location (cannot yet divulge actual location), in order to convert it to another studio space...and they want to have the lease for at least 5 years, so as to produce anywhere between 5-10 new shows. With the incoming Governor keen on extending tax credits for film production in Illinois for another 10 years, there could continue to be a thriving local film industry well into the late 2020s. Fox apparently loves filming here, and they are also looking to expand their lineup with a couple of new shows, slated to begin production in 2019-early 2020.

Oh and forgot this: he also said there are rumblings in the entertainment industry that some studios currently operating in Georgia are incredibly PISSED at the recent election for Governor there, and are actively looking at Chicago (and Toronto to a lesser extent) to shift major productions away from Atlanta. A lot of studios feel that Georgia state leadership and the GOP in general do not have their interests in mind, and would rather work north again, with or without tax credit incentives.

Nice...potentially very good for Chicago. 5 to 10 new shows for 5+ years is pretty big. Really curious how far south of Cinespace. Potentially happier times for LVDW?

Hey, maybe some of those shows that take place in Chicago can actually be filmed in Chicago now?

[sentinel]

Originally Posted by marothisu

Nice...potentially very good for Chicago. 5 to 10 new shows for 5+ years is pretty big. Really curious how far south of Cinespace. Potentially happier times for LVDW?

Hey, maybe some of those shows that take place in Chicago can actually be filmed in Chicago now?

I know right?? Haha

He said near 31st...or thereabouts. Although, it's still unconfirmed..

[the urban politician]

Originally Posted by sentinel

A close friend who works in the industry told me something potentially juicy yesterday: Netflix is scoping out a large warehouse not too far south from Cinespace's current location (cannot yet divulge actual location), in order to convert it to another studio space...and they want to have the lease for at least 5 years, so as to produce anywhere between 5-10 new shows. With the incoming Governor keen on extending tax credits for film production in Illinois for another 10 years, there could continue to be a thriving local film industry well into the late 2020s. Fox apparently loves filming here, and they are also looking to expand their lineup with a couple of new shows, slated to begin production in 2019-early 2020.

Oh and forgot this: he also said there are rumblings in the entertainment industry that some studios currently operating in Georgia are incredibly PISSED at the recent election for Governor there, and are actively looking at Chicago (and Toronto to a lesser extent) to shift major productions away from Atlanta. A lot of studios feel that Georgia state leadership and the GOP in general do not have their interests in mind, and would rather work north again, with or without tax credit incentives.

Hmmmm...we hear a lot of rumors around here, so I don't want to get excited, but this could be some really good news. Lets hope.

Actually, I would like to see movies filmed here regularly. It would be nice for us to reach a point where actors feel they could fulfill their career without having to leave Chicago. I realize that we will never come close to having Hollywood, but perhaps having a thriving filming sector will at least make it possible for a larger community of full time actors to stay put.

[RedCorsair87]

I wouldn't be surprised. There are at least 2 new Xmas movies on Netflix filmed in Chicago atm. Also Widows in theaters now was also shot here. The city has never looked bigger and better. IMO it's the best looking major city in the country. Say what you will about the Transformers franchise, but TF3 is a major guilty pleasure of mine because of how stunning Chicago looks in the background.

[sentinel]

Originally Posted by the urban politician

Hmmmm...we hear a lot of rumors around here, so I don't want to get excited, but this could be some really good news. Lets hope.

Actually, I would like to see movies filmed here regularly. It would be nice for us to reach a point where actors feel they could fulfill their career without having to leave Chicago. I realize that we will never come close to having Hollywood, but perhaps having a thriving filming sector will at least make it possible for a larger community of full time actors to stay put.

Indeed, it's too soon to say, regarding the Netflix scoop, he should know more information after the new year.

Regarding Fox, that information is solid, as he is currently on his fifth season on a Fox show, and they are very eager to move forward with new show orders for 2019 and 2020 that will film here.

[LouisVanDerWright]

Nice, "Marshall Square" is about to get a whole lot more interesting, trust me...

Fox has a 35 year lease or something like that with Cinespace, they want to extract maximum value out of that resource. I would be shocked if Netflix is doing something only 5 years long unless it's like 5 years with several five year extensions. But they would get a much better deal for long term leasing.

[sentinel]

Originally Posted by LouisVanDerWright

Nice, "Marshall Square" is about to get a whole lot more interesting, trust me...

Fox has a 35 year lease or something like that with Cinespace, they want to extract maximum value out of that resource. I would be shocked if Netflix is doing something only 5 years long unless it's like 5 years with several five year extensions. But they would get a much better deal for long term leasing.

But I think the Fox lease deal was always contingent on whether or not they'd still be able to get state tax credits...which looks like it's a non-issue since they will be extended for many years to come..

Netflix is a weird goose, and I suspect the 5 year min is because their business model doesn't allow for the same type of extended season shows that network tv allows; Netfix can't count on advertiser or even syndication revenue because they rely almost exclusively on subscribers, which in turn affects their lineup, which in turn affects number of seasons of shows in their lineup. Not every show that they produce can be like Orange is the New Black, so I think that's a big underlying reason for the (supposed) 'shorter' 5 year lease...if it materializes at all.

[the urban politician]

Had The Walking Dead been filmed up here, Rick Grimes and the crew would've dealt with Walkers, Neegan the Saviors, and.......

Chicago winters...

[emathias]

Originally Posted by the urban politician

Had The Walking Dead been filmed up here, Rick Grimes and the crew would've dealt with Walkers, Neegan the Saviors, and.......

Chicago winters...

Yeah, zombies ain't lastin' past a winter.