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  #2821  
Old Posted May 10, 2019, 12:28 PM
the urban politician the urban politician is online now
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It’s been a slow news month in economic news.

We need a major new HQ announcement.

How about in 5...4...3....?
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  #2822  
Old Posted May 10, 2019, 2:09 PM
moorhosj moorhosj is offline
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Originally Posted by LouisVanDerWright View Post
If the Democrats were smart they would get an infrastructure deal done with fat handouts to Midwestern and rust belt states that are buying the "bring back the good old days" narrative. Nothing would counter Trump's claims of "the Chinese anf Mexicans took your jobs" than a total rebuild of the crumbling rust belt.

It's amazing how some states seem to have no problem fixing this stuff. You go to Iowa and literally everything is brand new.
10 days ago:

Quote:
Democratic congressional leaders announced Tuesday after a meeting with President Donald Trump that an agreement had been reached on the price tag for a potential infrastructure plan: $2 trillion.
Can't make this stuff up:

Quote:
Trump told lawmakers he liked the sound of $2 trillion more than something in the $1 trillion-plus range. The larger topline number sounded bigger and better, was how one of the people characterized the President's view.
More specific to the Great Lakes/Rust Belt, a true coalition would be large enough to hold up a bill like this until specific money was dedicated to specific regional needs (lead pipes, water, trains, etc.). Unfortunately, partisanship seems to be stronger than pragmatism these days. Our hopes likely rest on non-extremists like Rob Portman and Dick Durbin to get anything specific done.
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  #2823  
Old Posted May 10, 2019, 2:23 PM
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sounds great but it is not going to happen because they will never agree on how to fund it.
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  #2824  
Old Posted May 10, 2019, 3:53 PM
moorhosj moorhosj is offline
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Originally Posted by the urban politician View Post
It’s been a slow news month in economic news.

We need a major new HQ announcement.

How about in 5...4...3....?
The new abortion law signed in Georgia[/URL] and the rumors of Netflix's interest in a Chicago studio could make for an announcement, although not an actual HQ.

Hollywood backlash:

Quote:
Hollywood has been outspoken against a controversial Georgia abortion law, and now the heads of three production companies are saying they will not film in the state.
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  #2825  
Old Posted May 15, 2019, 4:21 PM
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Chicago scores another suburban HQ

First Lady cruises move HQ to downtown Chicago
Quote:
CHICAGO – Following the launch of the Chicago river cruise season, Chicago’s First Lady Cruises and Mercury, Chicago’s Skyline Cruiseline announces their new corporate headquarters in downtown Chicago on the 15th floor of 303 E. Wacker Drive. The new headquarters is steps away from the cruise lines’ docking area on the city’s vibrant Riverwalk and a convenient walk from Chicago’s First Lady Cruises’ partner, the Chicago Architecture Center. The companies’ move from Palatine, Illinois, demonstrates their continued commitment to the development and growth of the city of Chicago.

The 9,800 square-feet office, designed by Collective Office, features both private and open concept office space and graphics of various vantage points of the Chicago River wrapped on interior walls to reflect the essence of the companies in the space. It also includes a test kitchen for mixing new and creative cocktail recipes available aboard the #1 ranked tour in Chicago based on TripAdvisor user reviews - the Chicago Architecture Foundation Center River Cruise (CAFC) aboard Chicago’s First Lady – and Mercury Cruises’ line of family-friendly tours for all ages.

The companies anticipate bringing an additional 10 jobs to Chicago, with a total of 25 employees working from the headquarters. The cruise lines employ 175 staff members at the height of the river cruise season.
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  #2826  
Old Posted May 15, 2019, 4:52 PM
the urban politician the urban politician is online now
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^ Uhhhhhh, I saw that news the other day as well and...

Seriously, that is hardly a "scoring" of a HQ
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  #2827  
Old Posted May 15, 2019, 5:41 PM
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^I know its lame, but we needed some news, any news..
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  #2828  
Old Posted May 15, 2019, 8:21 PM
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Okay here's better news. A security tech firm is tripling its headcount in West Loop. That should account for close to 100 new jobs there. Not huge,, but certainly better news
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  #2829  
Old Posted May 15, 2019, 10:18 PM
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Quote:
Originally Posted by the urban politician View Post
^ Uhhhhhh, I saw that news the other day as well and...

Seriously, that is hardly a "scoring" of a HQ
is this a big enough score for you?


Quote:
Uber in talks for massive office in Chicago's Old Post Office redevelopment
Ryan Ori and Ally Marotti


Uber is negotiating a massive office lease at The Old Post Office, where the technology company would have room to add thousands of employees in one of Chicago’s largest buildings.

California-based Uber Technologies is in advanced talks to take about 450,000 square feet in the 2.8 million-square-foot building that’s being redeveloped along the Chicago River, according to people familiar with the deal.
source: https://www.chicagotribune.com/news/...t=oft12aH-1gp2
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  #2830  
Old Posted May 15, 2019, 10:38 PM
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^ That's huge. 450,000 square feet is probably somewhere in the 3000 to 4000 employee range. I'm curious how many will be consolidated from other offices in town and how many will be new. Even if it was a consolidation, then it would still be somewhere in the range of 265,000 new square feet of office space, which is probably a new 2000+ employees.


In other funny news - Trump Organization claims a decline in hotel revenue in Chicago is due to the perceived threat of gun violence while in Miami it's because of the Zika virus. LOL - yeah, despite competitors in the area posting revenue increases, as well as Chicago in 2018 having the highest number of tourist visitors it's ever had, a 4.3% increase from the previous year (almost 2.5 million visitor increase).

Anecdotally, I have a cousin who used to stay in Trump Hotel properties anywhere he traveled that had them - he had the top status with them and would stay at Trump International Hotels numerous times per year whether in Hawaii, NYC, Florida, Chicago, etc. One time when he was in Chicago staying, he invited me up to a 2 bedroom suite he got which was great, I think (great Subzero fridge in the room). My cousin also mostly votes Republican and has given money to various Republican politicians. When Trump began to run for President and had various things out there he said, my cousin stopped going to any Trump properties all together because he couldn't stand what he was saying (but he supported other Republican nominees at the time, just not Trump and still doesn't support him). My cousin now stays at other luxury brands, and not Trump anymore, wherever he goes - Four Seasons, Ritz Carlton, etc. I don't know how often this same thing happens, but it's possible the decline is coming from all sorts of angles.

Last edited by marothisu; May 16, 2019 at 12:04 AM.
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  #2831  
Old Posted May 16, 2019, 1:48 AM
the urban politician the urban politician is online now
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Just when shit was getting boring, WHAM BAM THANK YOU, MA’AM!

Just Uber and Salesforce alone will have nearly 1 MM SF in the city, a huge bet on Chicago’s workforce.

I have a hunch that the more these companies grow here, the more they will realize how valuable local talent here is, especially for what they are paying.

And in other news, the DPI continues to slowly advance:

https://www.chicagobusiness.com/educ...etwork-expands
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  #2832  
Old Posted May 16, 2019, 2:00 AM
marothisu marothisu is offline
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Originally Posted by the urban politician View Post
Just Uber and Salesforce alone will have nearly 1 MM SF in the city, a huge bet on Chicago’s workforce.

I have a hunch that the more these companies grow here, the more they will realize how valuable local talent here is, especially for what they are paying.
Yep - though I think Uber would probably be a mixture of many types of jobs - management, operations, sales reps, and probably a little tech but probably more of the others. Salesforce probably more tech related, but I could be wrong. I'm just going off of the open jobs. Hoping that Uber would start (or expand) a large tech organization in Chicago.

In other news, not to take away from this

Keeper Security Planning to Add 100+ Jobs in Six Months, Move to New HQ

https://www.americaninno.com/chicago...ove-to-new-hq/

Quote:
Chicago cybersecurity software firm Keeper Security is planning a major hiring spree in 2019.

Keeper announced Wednesday that it plans to add 130 new jobs in Chicago over the next six months, tripling its current headcount. It’s also relocating to a new office in the West Loop to accommodate growth.

Founded in 2011, Keeper has created a password management service for consumers and businesses. The company’s offerings also include dark web monitoring, digital file storage and secure messaging.

Keeper had a busy 2018, as it saw triple digit B2B customer growth and now works with more than 7,000 business, the company says. The company has more than 15 million users in over 100 countries who use its password management software.

..

Along with moving to a new Chicago headquarters—a 16,000 sq. ft. space at 820 West Jackson Blvd.—Keeper is also planning to relocate and expand its other offices in El Dorado Hills, California, and Cork, Ireland.

Keeper says its new roles will be in inside sales, enterprise sales, sales operations, sales engineering, product training and customer support.
Not exactly automatically super high paying jobs (though if they have commission structure then who knows) but still probably not terrible paying and positive to see. It's jobs of a decent quality nonetheless.
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  #2833  
Old Posted May 16, 2019, 8:29 PM
Vlajos Vlajos is online now
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A new report shows just how much Chicago's Loop is booming

Nothing very surprising in here, but a good read. The report is linked in the article.

https://www.chicagobusiness.com/news...s-loop-booming
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  #2834  
Old Posted May 17, 2019, 1:42 AM
marothisu marothisu is offline
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Originally Posted by Vlajos View Post
Nothing very surprising in here, but a good read. The report is linked in the article.

https://www.chicagobusiness.com/news...s-loop-booming
Some facts I see from here:

* The Loop grew by 21,258 residents from 2010 to 2018. Not sure if South Loop is counted in this too but I bet it is. That's a 28.9% increase in population. The median age is 33.7 years.

* 4449 new housing units were delivered to the Loop between 2010 and 2018. Only 640 owner-occupied units have been added to the Loop in this time period - most new units are rentals. Of those units, 3000 units were in new construction. Another 2000 units either U/C or proposed.

* Average rents rose from $2.19/SF in 2010 to $2.93/SF in 2018.

* 80.6% of adults aged 25 and older have a Bachelor's degree or higher in the Loop.


* The average household size in the Loop is 1.7 people versus 2.6 people for the rest of the city on average.

* Median Household Income in the loop is at $105,066.

* Private sector jobs have increased by 64,485 in the Loop since 2010 - a 23.5% increase. It's now at 339,441 private sector jobs in the Loop.

* The number of jobs in the professional, scientific, and technical areas has gone up somewhere between 15,000 and 20,000 jobs between 2010 and 2018. Health care jobs have gone up around 15,000, and financial services is about the same as it was in 2010 after dipping a little bit until around 2014 or 2015.

* Apparently there's 3 upcoming projects for Wabash which will add 500 new residential units and a 39 room boutique hotel.

* Between 2013 and 2018, 46 companies moved their HQ or a division of their operations from the suburbs to the Loop.

* Office vacancy high was in 2010 at 17%. The low was at 11.7%. In 2018 it's at 13.2% because of new construction for offices as absorption hasn't kept up with it.

* Overall foot traffic decreased by 5% from 2017 to 2018 (not sure how they measure this through an entire year). State Street had 99 million pedestrians in 2018 which is over 271,000 people per day. Randolph Street had 24.2 million pedestrians for the year (66,300+ pedestrians per day)

* There's 4.37 million square feet of retail in the Loop. The vacancy rate is 12.1%

* Out of the 57.7 million visitors to Chicago in 2018, 75% were domestic leisure travelers (~43.3 million) while 22% were domestic business travelers ( ~12.7 million) and only 3% were international travelers (1.7 million).

* The average domestic traveler spends $1093 on their visit while the average international travelers spends $3100.

* Average daily rate for hotels went up $14.21 from 2014 to 2018. Revenue wise that's something like an increase of $110 million for the hotel market. Revenue per hotel room has increased 6.7% from 2013 Trump and their declining revenues despite this...

Another 505+ hotel rooms to be delivered

And a little more after that

* Airbnb had 500,000 guests in Chicago in 2018 versus 390,000 in 2016. Only 6% of listings are in the Loop.
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  #2835  
Old Posted May 17, 2019, 9:37 AM
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Quote:
Originally Posted by marothisu View Post
...
* Airbnb had 500,000 guests in Chicago in 2018 versus 390,000 in 2016. Only 6% of listings are in the Loop.
So I had about 0.04% of all Airbnb visitors in 2016 and about 0.025% of all Airbnb visitors in 2018. LOL
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  #2836  
Old Posted May 17, 2019, 12:04 PM
the urban politician the urban politician is online now
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^ Think about how much more revenue to the city we can get if we increase international visitors from 3% to 10%. That’s still not even that high.
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  #2837  
Old Posted May 17, 2019, 2:02 PM
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Originally Posted by the urban politician View Post
^ Think about how much more revenue to the city we can get if we increase international visitors from 3% to 10%. That’s still not even that high.
Whenever you walk around downtown it seems like more than 3% during the summer. More like 25-35% based on the language spoken. I wonder if there is something making that number not accurate. After hearing how some cities count their visitors numbers(NYC for example) I am starting to doubt a lot of the statistics as being somewhat biased. Yes stats do lie if misinterpreted.
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  #2838  
Old Posted May 17, 2019, 2:22 PM
Baronvonellis Baronvonellis is offline
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Yea, it is strange that Chicago get's so few international visitors. When I've talked to Europeans they usually all wanted to visit New York first, then Miami/Disney, and then Los Angeles in the US. No one I met ever even had Chicago on their mental radar. When I told them what a huge and cool city Chicago is they were really impressed. Europeans are all really fascinated by skyscrapers, but they didn't know that Chicago has tons of skyscrapers. They knew more about skyscrapers being in Hong Kong than Chicago. But I just don't think Chicago is very well know outside of the US.

I checked Miami's tourism numbers for example in 2017 they only had 15.8 million total visitors. Yet 7.8 million- 49% are international! I was surprised that Miami gets alot less total visitors. Chicago has 7 times more domestic visitors than Miami- which is a huge number! But yet only 20% of the international visitors that Miami has.

Chicago needs to do alot better job marketing to international locations.
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  #2839  
Old Posted May 17, 2019, 2:30 PM
Baronvonellis Baronvonellis is offline
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Originally Posted by F1 Tommy View Post
Whenever you walk around downtown it seems like more than 3% during the summer. More like 25-35% based on the language spoken. I wonder if there is something making that number not accurate. After hearing how some cities count their visitors numbers(NYC for example) I am starting to doubt a lot of the statistics as being somewhat biased. Yes stats do lie if misinterpreted.
The key word you mentioned is during the summer. For 3-4 months there might be 25% international but then the rest of the year might only be 3%. I've been to Miami several times, you can definitely tell that half the people there are international. English is a second language in Miami Beach, I'd say 75% of people there are speaking Spanish. I don't really get the same impression in Chicago. There's far more domestic people here visiting.
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  #2840  
Old Posted May 17, 2019, 2:42 PM
the urban politician the urban politician is online now
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Originally Posted by Baronvonellis View Post
Chicago needs to do alot better job marketing to international locations.
^ The understatement of the year.

But nobody seems to be listening
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