CHICAGO | Economic & Business Development

[Steely Dan]

* posts deleted *

national political discourse belongs in the CE toilet.

do not pollute the good and worthwhile portions of this forum with that crap.

[emathias]

Despite all the news of layoffs and such, I actually am hiring. Job will start remote but post-pandemic will work out of our Chicago Loop office. Looking for a jack of all trades Linux person with an emphasis on databases (MySQL) and AWS. Experience supporting a broad number of things in a very small environment would be ideal. People from Linux admin, DBA, or devops backgrounds especially encouraged to apply.

PM me for more information.

[ardecila]

Originally Posted by the urban politician

I always get excited when this thread gets a bump....until I realize that the off-topic discussion about water usage in the Great Lakes keeps getting perpetuated here...

If you don’t think our huge supply of fresh water (and its management) is relevant to Chicago’s economy, I don’t know what to tell you. Certainly it is just as important a topic as a new corporate HQ, tax rate discussions or demographics.

Water is especially important right now since MWRD officials are publicly elected and on the ballot for this election. Sadly the public’s boredom with this topic has allowed corruption and mismanagement fester there for decades.

[sixo1]

Nippon Express breaks ground on new warehouse and headquarters

"The company, a subsidiary of Japan-based Nippon Express Company, said it will move its base from Long Island City, New York, to Wood Dale, IL to improve the speed and efficiency of operations by integrating head office, sales and operational functions into a single location."

[jpIllInoIs]

Originally Posted by sixo1

Nippon Express breaks ground on new warehouse and headquarters

"The company, a subsidiary of Japan-based Nippon Express Company, said it will move its base from Long Island City, New York, to Wood Dale, IL to improve the speed and efficiency of operations by integrating head office, sales and operational functions into a single location."

Chicago will need to LEAN into its Logistics heritage to lead the recovery!!

[bnk]

Originally Posted by sixo1

Nippon Express breaks ground on new warehouse and headquarters

"The company, a subsidiary of Japan-based Nippon Express Company, said it will move its base from Long Island City, New York, to Wood Dale, IL to improve the speed and efficiency of operations by integrating head office, sales and operational functions into a single location."

Thanks for some good news

Its been a while since a good score came in. I thank all of you guys for finding positive news. When I do a general search I actually don't even post the really bad stuff coming out of Boeing and the restaurant hotel industry, and conventions here. Its scary stuff really.

So I really do look forward to positive news, but for me its hard to find behind all of the pain that is going on.

[the urban politician]

Not as sexy as a Fulton Market highrise, but good news nonetheless as a whole. Some highlights I quoted:

Chicago In Focus, As Industrial Becomes Real Estate’s New Darling
Jeffrey Steele

In few places is the metamorphosis more evident than in the Chicago metropolitan area, which is able to leverage its advantage as a central U.S. transportation hub in supplying the factory, warehouse and fulfillment center needs of companies nation- and worldwide. A recent snapshot of the Chicago metro's industrial market reveals new industrial leasing soared by 56.3 % year-over-year, based on 21.2 million square feet in new leasing activity, according to the latest Cushman-Wakefield report.

Centrality's significance

When it comes to explaining the Windy City's attractiveness as a market for industrial development and investment, the metro’s enviable standing as a transportation center can't be overlooked. So says Micahel Podboy, president of Chicago-based CA Industrial, which has grown its industrial team by 100 percent, expanded its U.S. footprint and recently wrapped up projects in major distribution hubs Cincinnati and Indianapolis, as well as in Chicago.

"With labor and transportation costs accounting for over 50% of costs in the supply chain, good transportation infrastructure is critical," Podboy says. "Chicago sits at the epicenter of transportation, with its access to two international airports, multiple rail lines and interstate highways, with much of the country's population accessible within a day's drive."

Indeed, according to Site Selection, the Chicago-Naperville-Elgin area stands within 24 hours drive time of 117,633,758 members of the American population.

The future

With supply remaining tight, logistics real estate is today’s most desirable asset class, asserts Dan Leahy, executive vice president and partner with Oak Brook, Ill.-based NAI Hiffman, which recently completed a lease for a major e-commerce company calling for two last-mile warehouses totaling 575,000 square feet in the near-in Chicago suburb of Cicero, Ill. The past two decades have seen Leahy complete more than 500 transactions, totaling more than $2 billion. Having won clients that include WalMart WMT +1.2%, CenterPoint Properties and TA Realty, he is regarded among the leading industrial brokers in Chicago and the U.S.

https://www.forbes.com/sites/jeffste.../#756f9dd41d5a

[ardecila]

Originally Posted by ardecila

^ All the more reason that Chicago needs to be promoting itself to new residents (not just businesses), both directly via ads and indirectly via tourism and TV/movies like Chicago Fire and Shameless.

Great article in Crain's today about the city's efforts to market itself in the back half of this pandemic, including events, mini-campaigns, etc. Pretty sad that Fassnacht is unpaid though. This kind of stuff is worth every penny to pay a professional!
https://www.chicagobusiness.com/gove...ack-post-covid

I didn't realize that Ogilvy had come up with a whole new custom font and brand identity for the city! I have a few nitpicks but they basically did this work for free! I'm glad somebody at the city is keeping good/distinctive design in mind.

[sentinel]

I heard from a friend in film here in Chicago that The Batman is filming downtown this weekend?

I'm usually in tune with this stuff, but I hadn't heard this before. I think it's maybe just second/third unit filming..

[galleyfox]

Originally Posted by sentinel

I heard from a friend in film here in Chicago that The Batman is filming downtown this weekend?

I'm usually in tune with this stuff, but I hadn't heard this before. I think it's maybe just second/third unit filming..

Just for a few days with the stunt doubles for exterior shots. They’d staged their vehicles in Steelworkers Park earlier in the week then filmed a motorcycle scene by the Thompson Center last night.

https://twitter.com/filming_chicago/...597003777?s=21

[sentinel]

Originally Posted by galleyfox

Just for a few days with the stunt doubles for exterior shots. They’d staged their vehicles in Steelworkers Park earlier in the week then filmed a motorcycle scene by the Thompson Center last night.

https://twitter.com/filming_chicago/...597003777?s=21

Nice - good to hear that Chicago is still filling in as Gotham City, if only for exterior shots

Unrelated, but I guess Curbed is now owned by New York Magazine, and shifting focus away from other cities to be NY-centric only..? Maybe I've got that last part wrong..

[sixo1]

Chicago-based companies that recently raised tens of millions of dollars in funding:
- Cooler Screens (you might have seen them at Walgreens) raised $80 million in a Series C funding round. Source.
- and Chowbus raised $30 million in equity funding. Source.

A small win for downstate Illinois:
- Kanata Blanket Company is relocating it's operations to Vandalia, IL. The new facility will employ 40-50 people in the coming year. Source.

[the urban politician]

Crains reporting that Google about to hire thousands more in 4 cities, including Chicago

Unlike Crap-Azon, they actually see the value in Chicago’s workforce

[marothisu]

Originally Posted by the urban politician

Crains reporting that Google about to hire thousands more in 4 cities, including Chicago

Unlike Crap-Azon, they actually see the value in Chicago’s workforce

Yup, it's part of a new diversity initiative looking more at Black, Latin, Indigenous, etc communities. I suspect the vast majority of the hires will be from there. There are some other companies recently starr similar types of initiatives.

This appears separate from their own plans. There's 1300 Google employees now in Chicago and this alone will probably put it over at least 2500 or 3000 in 5 years. Probably more with other initiatives though. Wouldnt be surprised if this is successful to see Google with 4000+ employees in Chicago in 5 or so years.

[marothisu]

I was looking at some of the newest Bureau of Labor Statistics numbers tonight by state comparing February 2020 and September 2020. Illinois fared better than I thought regarding change in labor force population. Actually it barely lost any people - even North Dakota lost more than Illinois. Of course, Illinois has lost many employed persons but it looks like there was a large increase (like over 100K people) from August to September. There were some states that were surprisingly worse than Illinois in this regard even percentage wise.

All in all, not a single state gained employed persons, and only 10 states gained in labor force. These numbers ARE seasonally adjusted.

Feb '20 to Sep '20 Percent Change in Employed Persons

1. Oklahoma: -0.3%
2. Mississippi: -0.31%
3. Utah: -0.61%
4. Idaho: -0.63%
5. Wisconsin: -1.08%
6. Nebraska: -1.5%
7. South Dakota: -1.64%
8. Wyoming: -2.23%
9. Montana: -2.34%
10. South Carolina: -2.76%
11. Delaware: -3.22%
12. Alabama: -3.57%
13. Arizona: -3.57%
14. Louisiana: -3.77%
15. North Dakota: -4.15%
16. Kansas: -4.26%
17. Tennessee: -4.3%
18. Missouri: -4.57%
19. Maine: -4.93%
20. Texas: -4.94%
21. Indiana: -4.95%
22. Alaska: -4.97%
23. Minnesota: -5.04%
24. Colorado: -5.17%
25. Washington: -5.59%
26. New Mexico: -5.79%
27. Connecticut: -5.93%
28. Arkansas: -6.18%
29. Michigan: -6.2%
30. Pennsylvania: -6.44%
31T. Oregon: -7%
31T. Rhode Island: -7%
33. Illinois: -7.11%
34. Vermont: -7.17%
35. Georgia: -7.34%
36. Ohio: -7.46%
37. North Carolina: -7.58%
38. Virginia: -7.59%
39. New Jersey: -7.61%
40T. Florida: -7.78%
40T. West Virginia: -7.78%
42. DC: -7.82%
43. Massachusetts: -8.16%
44. New Hampshire: -8.21%
45. Kentucky: -8.95%
46. Iowa: -9.81%
47. Maryland: -10.22%
48. New York: -10.31%
49. California: -11.4%
50. Nevada: -11.62%
51. Hawaii: -20.11%

Feb '20 to Sep '20 Percent Change in Labor Force
1. Idaho: +3.03%
2. Utah: +2.01%
3. Oklahoma: +1.95%
4. Mississippi: +1.53%
5. Delaware: +1.23%
6. Wisconsin: +0.91%
7. Alabama: +0.5%
8. Rhode Island: +0.44%
9. Wyoming: +0.27%
10. Texas: +0.11%
11. South Carolina: -0.06%
12. Illinois: -0.1%
13. Montana: -0.51%
14. Louisiana: -0.71%
15. South Dakota: -0.85%
16. Nebraska: -0.85%
17. New Mexico: -0.99%
18. Massachusetts: -1.18%
19. Michigan: -1.2%
20. Colorado: -1.22%
21T. Arizona: -1.29%
21T. Tennessee: -1.29%
23. Kansas: -1.39%
24. Washington: -1.54%
25. Indiana: -1.76%
26. Connecticut: -1.85%
27. Maine: -1.99%
28. North Dakota: -2.02%
29. Minnesota: -2.11%
30. Oregon: -2.21%
31. Arkansas: -2.36%
32. Nevada: -2.51%
33. Pennsylvania: -2.94%
34. Florida: -2.98%
35. Ohio: -3.19%
36. Missouri: -3.24%
37. Alaska: -3.59%
38. North Carolina: -3.9%
39. West Virginia: -4.07%
40T. Georgia: -4.1%
40T. Virginia: -4.1%
42. DC: -4.25%
43. California: -4.3%
44. New York: -4.37%
45. New Jersey: -4.7%
46. New Hampshire: -4.85%
47. Vermont: -5.42%
48. Maryland: -6.48%
49. Kentucky: -7.62%
50. Iowa: -7.98%
51. Hawaii: -8.42%


Feb '20 to Sep '20 Raw Change in Labor Force
1. Oklahoma: +36,003 persons
2. Utah: +32,735 persons
3. Wisconsin: +28,244 persons
4. Idaho: +26,983 persons
5. Mississippi: +19,545 persons
6. Texas: +15,358 persons
7. Alabama: +11,308 persons
8. Delaware: +6030 persons
9. Rhode Island: +2473 persons
10. Wyoming: +784 persons
11. South Carolina: -1549 persons
12. Montana: -2722 persons
13. South Dakota: -3977 persons
14. Illinois: -6116 persons
15. North Dakota: -8179 persons
16. Nebraska: -8879 persons
17. New Mexico: -9480 persons
18. Alaska: -12,414 persons
19. Maine: -13,820 persons
20. Louisiana: -14,924 persons
21. DC: -17,603 persons
22. Vermont: -18,449 persons
23. Kansas: -20,829 persons
24. Arkansas: -32,240 persons
25. West Virginia: -32,855 persons
26. Connecticut: -35,680 persons
27. New Hampshire: -37,793 persons
28. Colorado: -38,963 persons
29. Nevada: -39,187 persons
30. Tennessee: -43,339 persons
31. Massachusetts: -45,251 persons
32. Oregon: -46,628 persons
33. Arizona: -46,752 persons
34. Hawaii: -56,304 persons
35. Michigan: -59,470 persons
36. Indiana: -59,694 persons
37. Washington: -61,074 persons
38. Minnesota: -65,877 persons
39. Missouri: -100,721 persons
40. Iowa: -139,870 persons
41. Kentucky: -158,837 persons
42. Virginia: -183,078 persons
43. Ohio: -186,021 persons
44. Pennsylvania: -193,031 persons
45. North Carolina: -199,677 persons
46. Georgia: -211,186 persons
47. Maryland: -212,438 persons
48. New Jersey: -214,712 persons
49. Florida: -311,924 persons
50. New York: -417,614 persons
51. California: -839,096 persons

[marothisu]

To go along with the above, here is the labor participation rate change from Feb '20 to Sep '20 by percentage point change. Illinois is unchanged - one of only 10 states to go unchanged or increase.

1. Oklahoma: +1 pct point
2. Idaho: +0.9 pct points
3. Mississippi: +0.8 pct points
4T. Delaware: +0.4 pct points
4T. Utah: +0.4 pct points
4T. Wisconsin: +0.4 pct points
7. Rhode Island: +0.2 pct points
8. Alabama: +0.1 pct points
9T. Illinois: unchanged
9T. Wyoming: unchanged
11. Louisiana: -0.4 pct points
12. Texas: -0.5 pct points
13. South Carolina: -0.6 pct points
14T. Montana: -0.7 pct points
14T. New Mexico: -0.7 pct points
16. Michigan: -0.8 pct points
17. Nebraska: -0.9 pct points
18T. Massachusetts: -1 pct point
18T. South Dakota: -1 pct point
20. Kansas: -1.1 pct points
21. Tennessee: -1.2 pct points
22. Connecticut: -1.3 pct points
23. Indiana: -1.4 pct points
24T. Arizona: -1.5 pct points
24T. Colorado: -1.5 pct points
24T. Maine: -1.5 pct points
27T. North Dakota: -1.6 pct points
27T. Washington: -1.6 pct points
29. Oregon: -1.7 pct points
30. Minnesota: -1.8 pct points
31. Pennsylvania: -2 pct points
32T. Ohio: -2.1 pct points
32T. West Virginia: -2.1 pct points
34T. Alaska: -2.2 pct points
34T. Missouri: -2.2 pct points
36T. Florida: -2.3 pct points
36T. Nevada: -2.3 pct points
38. New York: -2.6 pct points
39. California: -2.8 pct points
40T. North Carolina: -2.9 pct points
40T. Virginia: -2.9 pct points
42. Georgia: -3 pct points
43. New Jersey: -3.1 pct points
44. DC: -3.2 pct points
45. New Hampshire: -3.6 pct points
46T. Arkansas: -3.6 pct points
46T. Vermont: -3.6 pct points
48. Maryland: -4.6 pct points
49. Kentucky: -4.7 pct points
50. Hawaii: -5.1 pct points
51. Iowa: -5.8 pct points

[ebitdadada]

Originally Posted by jpIllInoIs

Chicago will need to LEAN into its Logistics heritage to lead the recovery!!

Long time lurker, first time poster . Thought you all would find this interesting.

I got a call from a recruiter last week (I do corporate finance). $100M (revenue) logistics AI start-up out of NYC growing >100% per year & has raised a ton of $.

Reason for call: they decided in order to scale they pretty much have to move to Chicago. Everyone is getting relo packages, headquarters coming here, founders moving here, etc.

Interviews have been a bit weird (not even sure if I want to do this but that's another matter) in that the NYC folks keep saying things like "you're from Chicago you must know all about logistics." This is odd as 1.) I have no logistics experience or knowledge and 2.) I'm not "from" Chicago but, yes, apparently living in Chicago makes you a logistics expert. . Maybe as part of the LEAN into logistics strategy we just go with it. Living in Chicago = Logistics Expert.

[ardecila]

Odd that you would even start such a company in NYC. The investment scene is not as robust as California, and the logistics industry is not as robust as Chicago. I imagine Seattle must have a decent scene for logistics as well, purely from the Amazon cast-offs.

It does seem like Chicago is becoming the center for this kind of thing with Coyote, UberFreight, etc. Not the sexiest part of tech (if you want to call it tech) but still lots of good, wellpaying jobs nonetheless. It's too bad the lower-level jobs this creates in warehousing, distro, etc are A) not very well paid and B) not concentrated in Chicago but spread nationally.

[marothisu]

Originally Posted by ardecila

Odd that you would even start such a company in NYC. The investment scene is not as robust as California, and the logistics industry is not as robust as Chicago. I imagine Seattle must have a decent scene for logistics as well, purely from the Amazon cast-offs.

It does seem like Chicago is becoming the center for this kind of thing with Coyote, UberFreight, etc. Not the sexiest part of tech (if you want to call it tech) but still lots of good, wellpaying jobs nonetheless. It's too bad the lower-level jobs this creates in warehousing, distro, etc are A) not very well paid and B) not concentrated in Chicago but spread nationally.

After the Bay Area, NYC is the largest start up scene and also in terms of VC funding so it does make some sense in those terms. There are multiple successful logistics startups and companies in NYC but it does make sense for them to be in Chicago moreso I think.

[sixo1]

FlexXray, a Texas-based x-ray inspection company, is opening a 48,000-square-foot facility in Aurora. This facility will provide about 150 manufacturing jobs.