CHICAGO | Economic & Business Development

[the urban politician]

Nice, but I'm really eager to hear about any news about Salesforce

[Baronvonellis]

Have they said where google would put that Operations Center? Would it be a new tower, that's alot of people!

[bnk]

BTW Sam Zell you suck




https://www.biztimes.com/2018/indust...enosha-county/



Chicago logistics company purchases nearly 50 acres in Kenosha County
Plans call for two industrial buildings totaling 1 million square feet


by Corrinne Hess October 29, 2018, 12:09 PM
A Chicago-based logistics company purchased nearly 50 acres of land just west of Interstate 94 in Kenosha County where it plans to build two industrial buildings totaling 1 million square feet.

Site plan submitted to the City of Kenosha in March.
A subsidiary of Logistics Property Company, LLC purchased 44.3 acres at 3902 128th Ave. in the city of Kenosha from J&L Drissel LLC for $5.7 million, a 2.3 acre property in the town of Paris at 12443 38th St. from the Marvin and Dolores Drissel Revocable Trust for $620,000 and a 1.8 acre property for $600,000 from Ronald Wallace, according to state records.
The land is located just west of Interstate 94 and south of the Uline and Amazon facilities in Kenosha.
In March, a subsidiary of Logistics Property Company submitted a petition to annex the Town of Paris parcels into the City of Kenosha and rezone the land to allow for the construction of two manufacturing and distribution facilities.
The first proposed building is located along the west frontage road. Documents submitted to the city show it is 717,600 square feet. The second building, located directly west, would be 288,000 square feet.

...

[the urban politician]

^ Economic development could not be more mind-numbingly boring to look at than what's going on in SE Wisconsin when driving up I-94

Good that the jobs are coming, but I will miss the view of those green plains as far as the eye can see

[left of center]

Originally Posted by the urban politician

^ Economic development could not be more mind-numbingly boring to look at than what's going on in SE Wisconsin when driving up I-94

Good that the jobs are coming, but I will miss the view of those green plains as far as the eye can see

That's fine, let the rural land between Milwaukee and Chicago continue to develop and urbanize until it joins into one seamless metropolitan area.

[Investing In Chicago]

Originally Posted by left of center

That's fine, let the rural land between Milwaukee and Chicago continue to develop and urbanize until it joins into one seamless metropolitan area.

But why would that be a good scenario - that is a lot of sprawl. I'd much rather see some sort of green belt/rural land exist between the 2 metro's.

[LouisVanDerWright]

Originally Posted by Investing In Chicago

But why would that be a good scenario - that is a lot of sprawl. I'd much rather see some sort of green belt/rural land exist between the 2 metro's.

It's not really though, industrial and logistics cannot locate in city centers anymore, the land isn't there to do it. These facilities are being built on the fringes of what is already a very densely developed industrial ring around Chicago. It's not sprawl if there's literally nowhere else you can practically put it, it's not like this is the announcement of a 2,000 tract housing development. Go drive down 294 to see what this corridor will turn into. If there is anywhere we should be locating massive industrial complexes it's between Milwaukee and Chicago because then it is as centrally located to as many workers and markets as possible. Better here than out by Aurora...

[the urban politician]

^ But that's just it, it will encourage sprawl.

At least in Chicagoland we have Metra, and we have housing next to the Metra, and we have a demand for housing next to Metra. We have suburban downtowns which are variably appealing to people, and people are increasingly choosing to live near them to access Metra.

But Wisconsin is stuck in 1996. Other than some really forward-thinking stuff they did in downtown Kenosha a while back, all they really know how to do there is build sprawl-y, auto-oriented crap everywhere you look. Racine, for example, is one of the shittiest communities EVER, I know, I lived there. It has a nice downtown that thankfully was not allowed to die, but development continues further and further from the core and near I-94 where you get to gaze at some of the most suburban shit-holery ever. Even while the mall and older shopping centers further east are nearly vacant or in foreclosure, new ones are being built further west, despite the fact that the population is flat.

It's textbook bad planning, and in many Wisconsin towns they really don't care, they just want the jobs.

Anyhow, yes there will be a massive distribution/industrial complex between north Chicagoland and SE Wisconsin along I-94, but in the end it's the same old ugly sprawl with little to show for it in the end.

[Chi-Sky21]

Much easier to go east/west across country from Aurora than from Kenosha

[the urban politician]

Originally Posted by Chi-Sky21

Much easier to go east/west across country from Aurora than from Kenosha

Doesn't matter, Illinois doesn't have Scott Walker....

It's the bending over backwards for business that many of these companies want

[IrishIllini]

Originally Posted by LouisVanDerWright

It's not really though, industrial and logistics cannot locate in city centers anymore, the land isn't there to do it. These facilities are being built on the fringes of what is already a very densely developed industrial ring around Chicago. It's not sprawl if there's literally nowhere else you can practically put it, it's not like this is the announcement of a 2,000 tract housing development. Go drive down 294 to see what this corridor will turn into. If there is anywhere we should be locating massive industrial complexes it's between Milwaukee and Chicago because then it is as centrally located to as many workers and markets as possible. Better here than out by Aurora...

Industrial facilities like Foxconn in SE Wisconsin are concerning (to me at least) because the potential for environmental degradation is high. Lake, Kenosha, and Racine counties aren't necessarily an outdoorsman's paradise, but they are arguably the most pristine natural areas within an hour of Chicago. Not saying I wouldn't have those concerns in Aurora and the Fox River, but there's less to f*** up out that way.

[Investing In Chicago]

Originally Posted by IrishIllini

Industrial facilities like Foxconn in SE Wisconsin are concerning (to me at least) because the potential for environmental degradation is high. Lake, Kenosha, and Racine counties aren't necessarily an outdoorsman's paradise, but they are arguably the most pristine natural areas within an hour of Chicago. Not saying I wouldn't have those concerns in Aurora and the Fox River, but there's less to f*** up out that way.

This.

[bnk]

Foxconn is where it’s at because it will use a massive amount of water from Lake Michigan

[IrishIllini]

My understanding is Foxconn needed to be near the Great Lakes solely because of the amount of water consumed. An unfortunate amount of fresh water will be lost to evaporation for production at the facility.

It sounds like Foxconn wanted to get as close to O'Hare as physically possible, but Illinois' bid must have been uncompetitive so they went to the next best place - southeastern Wisconsin.

Is there legal standing for communities in Illinois that will be adversely impacted by the facility? What about the Great Lakes states and Canada?

[moorhosj]

Originally Posted by bnk

Foxconn is where it’s at because it will use a massive amount of water from Lake Michigan

Except Waukeshaw is actually fully outside the basin:

At issue with both Waukesha and Foxconn is an exemption that allows limited diversions outside the basin for “a group of largely residential customers that may also serve industrial, commercial, and other institutional operators.”

Waukesha, a city of 70,000 west of Milwaukee, lies fully outside the basin but is within a county that straddles the meandering subcontinental divide that separates areas of the Midwest that drain into the Great Lakes from those where water flows toward the Mississippi River. Foxconn’s plant would be built on top of the divide.

[marothisu]

Chicago software firm raises $20 million

https://www.chicagobusiness.com/fina...ses-20-million

Backstop Solutions, a Chicago-based company with 220 employees, has attracted $20 million in new financing from investors with industry experience.

..

Backstop has been building its business selling software to institutional and alternative investors like family offices, foundations, hedge funds, endowments and pension funds since it was founded in 2003. Co-founder Clint Coghill, a former hedge fund manager, is the company’s CEO and chairman.

The $20 million infusion follows a year in which Backstop’s client roster rose to 800 institutional and alternative investment firms, from the low to mid 700s previously, spokesman Robert Baumann said.

Backstop also has offices in New York, San Francisco, London and Hong Kong. Baumann declined to say whether the private company is currently profitable or to specify its annual revenue.

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U of I joins U of C quantum computing partnership

https://www.chicagobusiness.com/john...ng-partnership

The University of Illinois at Urbana-Champaign is teaming up with the University of Chicago, Argonne National Laboratory and Fermilab on quantum computing research.

..

U of I, which has its own quantum research effort underway in Urbana-Champaign, is joining U of C’s Chicago Quantum Exchange, which also includes the two national labs. The partnership announced today by U of C and U of I would bring together a nucleus of more than 100 scientists and engineers at a time when quantum computing is starting to attract money and attention. A potential pool of $1.3 billion in federal research funding looks good to cash-starved research universities.

[marothisu]

Tech companies double Chicago office space in four years

https://www.chicagobusiness.com/john...idio%5D=472693

Tech companies today occupy almost twice as much office space in Chicago as they did in 2014, thanks to continued growth by both homegrown startups and big players from outside the market.

Altogether, the sector's tenants now occupy 13.5 million square feet in the central business district, according to research firm CBRE, which tracks the 30 largest U.S. markets.

...

Chicago is among the most popular markets for tech companies on the coasts looking to expand, according to CBRE.

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San Francisco-based tech companies have added about 1.5 million square feet in Chicago, just behind Boston and Austin.

..

There are signs the growth may be cooling, however. The number of jobs at tech companies in Chicago increased 9.6 percent in 2016 and 2017, down from 22.1 percent growth in 2015 and 2014. It’s one of several markets to see such a slowdown.

I downloaded the report and it's pretty interesting. The slower growth rate is so so but I was surprised to learn that 9.6% was higher than Boston, DC, Dallas, Vancouver, Minneapolis, Philadelphia, etc.

CBRE put Chicago tech market office cycle right now in the maturization/stable category along with Los Angeles, Atlanta, Dallas, NYC, San Francisco, etc. They also named Milwaukee and Kansas City as 2 of a kind of next generation market for tech.

In terms of total jobs, they ranked Chicago 12th out of 30 with just over 70,000 jobs. Actually I was surprised to see Los Angeles ahead of Chicago by less than 10,000 jobs in this category. I thought it would be more than that. This number is ahead of the likes of Austin, Denver, Philadelphia, Vancouver, Baltimore, Minneapolis, Orange County (CA), Indianapolis, Portland, San Diego, Charlotte, etc However, it's behind the likes of Atlanta, Dallas, Montreal and the usual suspects like the Bay Area, DC, Seattle, Boston, and Toronto.

[bnk]

http://www.chicagotribune.com/busine...030-story.html


Scientists are pushing to make Chicago a leader in quantum computing and the fight against hacking




By Ally Marotti•
Chicago Tribune

October 30, 2018, 5:15 PM



Researchers from the University of Illinois at Urbana-Champaign are joining Chicago-area scientists in creating a network that could ultimately pave the way for communication that can’t be hacked.

The effort is part of a push from national labs and universities in the state to establish Chicago as a leader in an emerging field of physics and engineering called quantum technology.


...The field has been gaining attention from tech giants and the federal government, but so far, most of the breakthroughs in quantum science have occurred in the lab.

That’s where this project from Chicago-area scientists is attempting to make progress.

The scientists plan to use a 30-mile long, unused network of high-speed optical fiber that stretches between Argonne National Laboratory in Lemont and Fermi National Accelerator Laboratory in Batavia. Particles of light will travel back and forth on the underground fiber between objects at each lab. That connection — called entanglement — allows communication between the two objects without moving them.

....

The project is being conducted by the Chicago Quantum Exchange, which was launched last year by the University of Chicago, Argonne and Fermilab. U. of I. announced Tuesday that it is joining the effort.

U. of I. also plans to invest $15 million to establish the Illinois Quantum Information Science and Technology Center.

Some graduate students in the physics department dabble in quantum studies, Provost Andreas Cangellaris said. But the school plans to develop graduate degrees and undergraduate concentrations in the area. It also plans to hire at least eight more faculty members in the field over the next four years. Cangellaris said the department currently has more than 25 faculty members whose research is relevant to quantum physics.

Cangellaris recognizes that the job market for graduates with knowledge in quantum technology is still in its infancy. But the opportunities for talent trained in this area span industries, he said.



“As research advances happen, the demand for this talent will grow quickly,” Cangellaris said.

With interest from the federal government and well-capitalized tech companies increasing, some experts expect that growth to start soon.

In September, the White House held a summit on quantum science, and the House of Representatives passed a bill calling for more than $1 billion to go toward research in the area. Additionally, Google, Microsoft and IBM, among others, have launched quantum research efforts.

...

[bnk]

More on the same topic



https://www.chicagobusiness.com/john...i-grows-cozier

John Pletz On Technology


October 31, 2018 12:35 PM |UPDATED 2 hours ago


UChicago's relationship with U of I grows cozier



A collaboration on quantum physics is just the latest partnership between the state's top-rated private and public universities. Here's how the burgeoning alliance could fulfill Chicago's ambition to be a bona fide tech capital.



...

U of I researchers are joining the Chicago Quantum Exchange, a partnership between U of C, Argonne National Laboratory and Fermilab in the suddenly hot field of quantum physics. It’s just the latest collaboration in four years between U of C, the state’s top-ranked private university, and U of I, the state’s top-ranked public school.

“In addition to the work on the Chicago Quantum Exchange with Argonne and Fermilab, our two universities will develop research and public-engagement efforts that leverage our strengths in diverse areas," Zimmer said. “In the months ahead we will be announcing a range of joint projects, including research partnerships in areas including materials and computing, as well as civic engagement collaborations that will benefit Chicago’s South Side, the Urbana-Champaign community and the state.”

Why the sudden long-distance love affair between two schools that aren’t much closer culturally than they are physically? Like other universities, U of C and U of I want to bring in more research dollars, which are harder to come by, and they want to commercialize more of that research. U of C operates two national labs, which are magnets for research funding and talent. U of I has one of the nation’s largest and highest-ranked (6th) engineering schools. U of C, unlike many peers, doesn't have a traditional engineering school, though it's quickly building molecular engineering and computer science programs.



A NO-BRAINER

With the federal government poised to spend $1.3 billion on quantum research, it’s a no-brainer for several of the state’s premier scientific research facilities to partner. U of C’s prowess in physics, which includes Argonne and Fermilab, dates back through the Manhattan Project to the first Nobel Prize winner in science in 1907. U of I has been a leader in materials science, engineering and supercomputing.




As competition for research funding, talent and corporate partnerships has become more fierce, universities are collaborating more. ...

But it likely goes deeper than that. Zimmer, who has been president since 2006, has been aggressively pushing U of C to turn more research into companies for students, staff and faculty in hopes of becoming more like Stanford, Harvard and MIT, which are seen as hotbeds of innovation and commercialization. He’s launched two funds with nearly $50 million to invest in startups. U of I likewise feels the pressure to step up its commercialization game, especially after a recent budget stalemate showed how fickle state funding can be.

At the same time, the city of Chicago and the state of Illinois have come around to the idea that talent and technology are crucial to the future of the economy. That means universities and the national research labs, often overlooked assets, have become much more prominent. As the state's largest university, there seems to be an appreciation for U of I's Urbana-Champaign campus to have closer ties to the state's largest city.

'MOMENTUM'

"Chicago has stepped up its game to become a high-tech capital," said Andreas Cangellaris, U of I's provost. ...

That's at least part of the motivation behind the Discovery Partners Institute proposed by Gov. Bruce Rauner that would bring to Chicago a large research and teaching facility for U of I engineering students and faculty from Urbana.


...

A NEW ROLE FOR CHICAGO

The primary goal of the new partnership announced Tuesday is to advance quantum mechanics, a particularly geeky part of physics that is seen as the next frontier in tech. The government's interest in funding new research provided a timely catalyst for collaboration. "We decided let's make Chicago the place where most of the investments by the federal government happen," Cangellaris said. "Think of Silicon Valley. Stanford gets all the credit. If not for Livermore and (Lawrence Berkeley) national labs, Silicon Valley wouldn't have happened.

The Chicago Quantum Exchange, Zimmer said, “will have a profound transforming impact, with major implications for economic impact and national security.”

Partnering with U of I also could prove transformational for U of C and figure into Zimmer’s legacy as president. U of I already has a presence in Hyde Park at the Polsky Exchange and intends to have permanent space for well over 100 researchers and students in a new 280,000-square-foot research tower that is planned for the U of C campus at 53rd Street and Lake Park Avenue but hasn’t yet gotten underway.




...


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[bnk]

https://www.chicagobusiness.com/greg...ed-ohare-hotel


City inks new deal with Hilton to run upgraded O'Hare hotel



Officials say the upscale facility should net the aviation fund up to $20 million more a year. But plans for a new airport hotel have been deferred.

The Emanuel administration has reached a deal on revamping hotel operations at O'Hare International Airport that will bring the city an additional $20 million to $25 million a year but puts off a more comprehensive plan for at least a year or two.

Under a package of ordinances to be introduced at today's City Council meeting, the city will change its relationship with a division of Hilton Hotels that now runs the only inn on O'Hare property, across from the main terminal complex.

Hilton will still manage the 860-room property, but instead of just passing on a percentage of income to the city, the city will get the revenues and give Hilton a management fee. The deal, replacing a pact originally negotiated in 1970, when airport hotels were an uncertain commodity, should give the city's aviation fund up to $25 million more a year than it gets now, according to Aviation Commissioner Jamie Rhee.

That money won't go into general city coffers and legally must be used only for airport matters, but will come in handy as the city launches a roughly $9 billion plan to expand and upgrade the airport's decades-old terminals, potentially reducing the drain on landing and other fees paid by airlines and their passengers.

Under terms of the new deal with Hilton, the property is also supposed to be upgraded to a first-class property, likely a Conrad Hotel or its equivalent.

"This is the first step in our broader plan for bringing new hotel developments to the airport, and it builds in the investments we are making in the terminals to keep Chicago-O'Hare a leading destination," Mayor Rahm Emanuel said in a statement.

...

While moving ahead with upgrading the existing hotel, the city has put on ice plans to build a second, 300- to 400-room inn across from Terminal 5, ...
...

The new deal with Hilton will last 10 years. ....

Clarification: The city now says that the $20 million to $25 million figure is gross, including the $5 million to $7 million a year it gets now. So the incremental increase under the deal is $13 million to $20 million annually.