CHICAGO | Economic & Business Development - Page 92

bnk · #**1821** Posted **Jul 21, 2018, 10:19 PM**

Quote:

Originally Posted by marothisu

No doubt Chicago's news gets dominated by bad news for various reasons, but this is not unique. Most cities are like this at least in the US believe it or not. I don't know what bnk is trying to prove here - it's pretty well known, but it's not unique to Chicago.

Yeah I think it is unique to 4 Blue cities in America. Big cities in Red States esp southern states don't have this issue IMO.

What I am trying get across is

this fake news in particular.

Chicago's Next Really Bad Idea: A Guaranteed Basic Income

National and international headline news on this subject gets reported like fact when it is just one Alderman suggesting the idea.

https://news.google.com/stories/CAAq...S&ceid=US%3Aen

I count 33 national and international news articles on this one topic alone. Twitter is alive like its already happening.

Not all GOP rag papers. Fortune, Daily Mail, FS Gate, …

The point is I do think Chicago gets hammered harder than most any other city starting with the Obama election.

Chicago just the name is a dirty word and a coded buzzword ] to half of the population of the USA. San Fran, LA, NYC are really the only other major cities pummeled as hard as Chicago has been on the receiving end for a long ass time now. So is the good news really getting out there or is it just in the background being drowned out on a daily basis by constant negativity deserved or not?

marothisu · #**1822** Posted **Jul 21, 2018, 10:36 PM**

Quote:

Originally Posted by bnk

So is the good news really getting out there or is it just in the background being drowned out on a daily basis by constant negativity deserved or not?

Definitely in the background, which is why to get some of it out in the foreground. Chicago is currently the punching bag just like how cities like NYC and LA were both at one point in time previously. They still are, just not as much as Chicago. It is unfortunate but there is definite truth in the bad news at the same time. However, it has to be both which is the unfortunate part to me - there's both good and bad things going on in Chicago - and you can say the same about literally every city. That's the reality, but it's sad how the news does shape the national opinion of the city. It takes going somewhere to realize that what you read in the news is just a very small fraction of what goes on anywhere.

the urban politician · #**1823** Posted **Jul 22, 2018, 2:42 AM**

Seriously, don't listen to Bnk

LouisVanDerWright · #**1824** Posted **Jul 22, 2018, 2:47 AM**

Quote:

Originally Posted by llamaorama

If you look for bad news about any city you are bound to find some.

That article about UBI sounds like a opinion piece, not an unbiased work of actual journalism.

Yeah, the UBI thing isn't even "bad news", it's just a totally inappropriate implementation of the theory in much the same way as Stalinism is a totally inappropriate implementation of socialism. That's not something that's going to work on a limited basis on a municipal level, that's something that's federal level if it's going to work at all.

Also I'm not sure how Chance the rapper buying the Chicagoist to bring it back as a community news source is "bad press"...

Halsted & Villagio · #**1825** Posted **Jul 22, 2018, 2:30 PM**

Quote:

Originally Posted by marothisu

Definitely in the background, which is why to get some of it out in the foreground. Chicago is currently the punching bag just like how cities like NYC and LA were both at one point in time previously. They still are, just not as much as Chicago. It is unfortunate but there is definite truth in the bad news at the same time. However, it has to be both which is the unfortunate part to me - there's both good and bad things going on in Chicago - and you can say the same about literally every city. That's the reality, but it's sad how the news does shape the national opinion of the city. It takes going somewhere to realize that what you read in the news is just a very small fraction of what goes on anywhere.

Typical well reasoned post here. Totally agree and would add that other cities (namely NYC and to some extent LA) have media hype machines that balance out the bad news with good news. For instance, for everything bad you hear about NYC, conservatively, you probably hear twice (if not three times) as much good news. Chicago lacks that right now. Chicago's good news rarely makes national news.

the urban politician · #**1826** Posted **Jul 22, 2018, 4:37 PM**

Well, the good news is spreading.

Many publications laud Chicago's food and theatre scene, Forbes called Pilsen on of 12 coolest neighborhoods on the planet, there has been ample media coverage of companies relocating jobs and HQ to downtown Chicago, tourism is at an all time high.

I don't think it's even remotely as bad as Bnk is freaking out about...

marothisu · #**1827** Posted **Jul 22, 2018, 8:49 PM**

Quote:

Originally Posted by the urban politician

Well, the good news is spreading.

Many publications laud Chicago's food and theatre scene, Forbes called Pilsen on of 12 coolest neighborhoods on the planet, there has been ample media coverage of companies relocating jobs and HQ to downtown Chicago, tourism is at an all time high.

I don't think it's even remotely as bad as Bnk is freaking out about...

Slowly.

That reminds me of something I saw on CNN the other day about West Loop:
https://www.cnn.com/travel/article/c...erg/index.html

k1052 · #**1828** Posted **Jul 23, 2018, 7:24 PM**

Facebook has leased 263,000 square feet at 151 N. Franklin per Crain's.

IrishIllini · #**1829** Posted **Jul 23, 2018, 7:55 PM**

Quote:

Originally Posted by k1052

Facebook has leased 263,000 square feet at 151 N. Franklin per Crain's.

http://www.chicagobusiness.com/reale...chicago-office

Good news.

bnk · #**1830** Posted **Jul 23, 2018, 7:57 PM**

Quote:

Originally Posted by k1052

Facebook has leased 263,000 square feet at 151 N. Franklin per Crain's.

That amount of space could hold up to 2000 jobs.

http://www.chicagotribune.com/busine...23-story.html#

Facebook confirms huge office lease in the Loop

A view looking northeast Wednesday, June 13, 2018 shows the new CNA office building at 151 North Fra

Facebook has signed a lease for a 263,000-square-foot space in a new office building at 151 N. Franklin St. (Chris Walker / Chicago Tribune)

Ryan OriBy

July 23, 2018, 1:25 PM

Facebook has added a huge office in the Loop, in a deal that could give the company room to expand to at least 2,000 employees in Chicago.

The social media giant has leased 263,000 square feet in the recently completed 35-story tower at 151 N. Franklin St., Facebook spokesman Jamil Walker said Monday.

Menlo Park, Calif.-based Facebook declined to say how many employees it currently has in Chicago or how many it plans to add. It’s also unclear ...Based on comparable office leases, the amount of space Facebook has leased on Franklin Street could accommodate well over 1,000 employees, and potentially more than 2,000.

“Chicago has been our Midwest home since 2007, and we’re excited to grow our presence here with increased hiring and a new office at 151 North Franklin,” Matty de Castro, Facebook U.S. head of industry, said in an emailed statement. “Our continued investment in this community underscores its strong talent pipeline and thriving technology ecosystem, which make it a great location to expand our Global Marketing Solutions and Recruiting teams.”

...Facebook’s new lease fills most of the available space in an approximately 807,000-square-foot building that Chicago-based John Buck Co. recently finished building. Insurer CNA Financial is the namesake tenant, and law firm Hinshaw & Culbertson is another large tenant.

Previously, Facebook signed a 756,000-square-foot lease for all of a San Francisco building being developed by John Buck. It was the largest office lease in San Francisco history.

...

Facebook’s deal continues an expansion by some of the largest technology companies in Chicago, where many of the jobs are in sales and marketing.

...Officials in Chicago and 19 other North American locations still in the running await news of Amazon’s decision ...

“Facebook’s decision to double down on Chicago with new jobs and investment is a testament to the talent of our residents and the incredible strength of our fast-growing tech sector,” Mayor Rahm Emanuel said in a statement. “For

...

the urban politician · #**1831** Posted **Jul 23, 2018, 9:01 PM**

This is great, they are at least adding over 1000 jobs if they are doing that, if not far more.

More apartments and condos to fill!

LouisVanDerWright · #**1832** Posted **Jul 23, 2018, 9:42 PM**

Quote:

Originally Posted by bnk

The social media giant has leased 263,000 square feet in the recently completed 35-story tower at 151 N. Franklin St., Facebook spokesman Jamil Walker said Monday.

...Facebook’s new lease fills most of the available space in an approximately 807,000-square-foot building that Chicago-based John Buck Co. recently finished building. Insurer CNA Financial is the namesake tenant, and law firm Hinshaw & Culbertson is another large tenant.

Previously, Facebook signed a 756,000-square-foot lease for all of a San Francisco building being developed by John Buck. It was the largest office lease in San Francisco history.
...

...

This gives some excellent sense of scale of the tech boom in San Francisco vs Chicago. Impressive to see them take a lease that's essentially 33% of a recent lease they did in San Francisco that was the largest in San Francisco city history. The size of that "largest lease ever" in San Francisco is the approximately the size of the building they leased space in here in Chicago. That building happens to be a relatively puny office tower for Chicago. Tech might not be centered here, but it's starting to grow on scale with what's going on elsewhere in the country. The biggest difference is a 250k block of space gets totally lost in the weeds here while it's a huge block of space in most places due to the sheer scale of our city and economy.

the urban politician · #**1833** Posted **Jul 23, 2018, 9:46 PM**

^ Good point, but I just want more apartments, condos, and hotels to get built.

More condos, apts, hotels = awesome
Less condos, apts, hotels = me sad

moorhosj · #**1834** Posted **Jul 23, 2018, 10:20 PM**

Hopefully this good news keeps us from being the "Next Detroit"

Quote:

For the first time, Chicago leads all major cities in the Americas for Foreign Direct Investment (FDI) Strategy according to fDi Magazine’s The American Cities of the Future 2017/18. The bi-annual rankings feature the most promising inward investment locations in the Americas.

A few specifics they call out

Quote:

In particular, the City of Chicago and WBC have created strategic partnerships with governments around the world to drive economic growth. Since Mayor Emanuel took office, four major agreements have been signed: the Gateway Cities Agreement with the Ministry of Commerce in China, the China Cities and U.S. Chicago Gateway Cities Business Accelerator Program, the Global Cities Economic Partnership between Chicago and Mexico City, and the Chicago-London City Data Alliance. Each unique partnership helps drive growth and recognition.

marothisu · #**1835** Posted **Jul 24, 2018, 12:45 AM**

Great news about Facebook solidifying that lease. That's a pretty big space and 2000 or more employees will be great. Really curious how many of those will be new hires. I'm hoping at least 1000 are new hires, if not all

Just further solidifies Chicago as an emerging tech scene.

Quote:

Originally Posted by moorhosj

Hopefully this good news keeps us from being the "Next Detroit"

A few specifics they call out

Yeah that's good. According to the link which goes to the actual report, Chicago was 3rd place last time. It also states that the staff at WBC has doubled since 2012. I looked at the PDF and Chicago doesn't rank well in most other things in the report except for a Lifestyle ranking which was ranked #2 behind NYC.

left of center · #**1836** Posted **Jul 24, 2018, 1:02 AM**

Quote:

Originally Posted by marothisu

Great news about Facebook solidifying that lease. That's a pretty big space and 2000 or more employees will be great. Really curious how many of those will be new hires. I'm hoping at least 1000 are new hires, if not all

Just further solidifies Chicago as an emerging tech scene.

Yeah, really exciting news! I assume the number of new hires will depend on if the entire 263,000 sq ft of space is going to be an entirely new expansion, or if they will consolidate the existing 100,000 sq ft of space they already have in the city, per the Crains article.

If its consolidation, then the 163,000 sq ft of new space would be roughly 1100 new jobs (assuming about 150 sq ft per employee). If the entire space is expansionary, then it could be up to 1800 new jobs. Either way, hell of a win for the city. I hope Amazon, Apple and Google are all watching and factoring this in as they plan their various massive expansion projects/secondary HQ's.

the urban politician · #**1837** Posted **Jul 24, 2018, 2:03 AM**

Let’s also not forget that there has been talk of a huge expansion of Salesforce as well, just waiting for the official announcement

the urban politician · #**1838** Posted **Jul 24, 2018, 2:08 AM**

A logistics company opening a downtown Chicago office, planning to create about 80 jobs:

https://globenewswire.com/news-relea...go-Office.html

tjp · #**1839** Posted **Jul 24, 2018, 3:06 AM**

Quote:

Originally Posted by the urban politician

Let’s also not forget that there has been talk of a huge expansion of Salesforce as well, just waiting for the official announcement

Any articles about this? I’ve heard the rumors on this forum but not anywhere else.

LouisVanDerWright · #**1840** Posted **Jul 24, 2018, 3:49 PM**

Quote:

Originally Posted by tjp

Any articles about this? I’ve heard the rumors on this forum but not anywhere else.

My buddy who works at Salesforce hasn't heard this. Where did that rumor come from?