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  #2001  
Old Posted Sep 8, 2018, 4:59 PM
the urban politician the urban politician is offline
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Chicago seems to be finding its footing in biotech:

http://www.chicagobusiness.com/john-...-biotech-bench
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  #2002  
Old Posted Sep 9, 2018, 2:38 PM
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Chicago seems to be finding its footing in biotech:

http://www.chicagobusiness.com/john-...-biotech-bench
Nice. Some "highlights" from the article:

Quote:
"I've started getting some calls from VCs not located here who have started asking, 'What companies should we be looking at?' I didn't get those calls before," says John Conrad, who leads industry trade group Illinois Biotechnology Innovation Association, or iBio.

A more tangible sign of the impact: Collectively, Iterum, Xeris and Aptinyx are worth $1.6 billion, based on their market capitalizations.
Quote:
Another: Illinois employment in the biopharma industry grew 9 percent between 2014 and 2016, compared to 2 percent nationally, Conrad says. The Illinois growth rate between 2012 and 2014 was 3.8 percent. Illinois has the nation's fifth-largest concentration of life sciences workers. He credits hiring at North Chicago-based AbbVie for some of the rise but says it's more due to startups.
Quote:
Paul Edick, 63, who was retired when investors in an Austin, Texas-based maker of a glucagon rescue pen for diabetics asked him to lead the company a year ago and moved it to Chicago, where it has added 40 jobs and is looking to hire another 40 people.
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  #2003  
Old Posted Sep 11, 2018, 1:58 AM
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Reading between the lines, this makes me believe that they're probably looking at expanding in Chicago...

Jaunt Opens Chicago Office After Buying Local AR Software Maker

https://www.americaninno.com/chicago...oftware-maker/

Quote:
Jaunt, a virtual reality tech company based out of San Mateo, Calif., is acquiring a specific software division of Personify, a Chicago-based startup that makes applications for streaming augmented and virtual reality videos.

The deal, announced Monday, allows Jaunt to acquire Personify’s seven-person Teleporter team, which makes a software system that streams life-like AR videos in real-time. Jaunt plans to use Personify’s IP and patent-pending technology for its Jaunt XR platform, a B2B product that enables the distribution of augmented, virtual and mixed reality videos, said David Moretti, Jaunt’s vice president of corporate development and operations. Jaunt’s platform produces film content and distributes it for companies like Disney and the NFL.
Quote:
Terms of the deal were not disclosed, but Personify’s Teleporter engineers will remain in Chicago, allowing Jaunt to open an office here. The rest of Personify’s business will remain the same.
Quote:
“A lot of good idea sharing is happening here,” Venshtain said. “The Chicago VR space is somewhat in its infancy compared to Silicon Valley, so I think this is going to be exciting for Chicago.”

...

“We view this as a great opportunity for us to build on the work that the Teleporter team has done, accelerate Jaunt’s research and development efforts, as well as expand our footprint into the Chicago market,” Moretti said. “We view it as a terrific opportunity and we’re really excited about it.”
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  #2004  
Old Posted Sep 11, 2018, 10:58 AM
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Takeda Closing it’s Deerfield HQ

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  #2005  
Old Posted Sep 11, 2018, 1:02 PM
the urban politician the urban politician is offline
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^ Ouch!
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  #2006  
Old Posted Sep 11, 2018, 3:22 PM
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Ouch indeed... does this affect Shire employees too I wonder?
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  #2007  
Old Posted Sep 11, 2018, 4:55 PM
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Wow, that's going to hurt. Hopefully those workers get reabsorbed back into the Chicago market instead of leaving for Boston.
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  #2008  
Old Posted Sep 12, 2018, 12:29 AM
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Thought I had heard awhile ago this was going to happen, but still sucks. Agree that hopefully a lot of people can just be brought into other area companies instead of moving. It's the way of big economies though - you win some, you lose some.
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  #2009  
Old Posted Sep 12, 2018, 1:20 AM
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Originally Posted by marothisu View Post
Thought I had heard awhile ago this was going to happen, but still sucks. Agree that hopefully a lot of people can just be brought into other area companies instead of moving. It's the way of big economies though - you win some, you lose some.
Interestingly, the article from a few days ago talking about Chicago’s biopharma industry never mentioned Takeda, although it mentioned other local giants such as Abbvie and Baxter.

This was baked in due to Shire’s recent acquisition of 2 large Boston pharma companies. Clearly their growth plan was based on what was going on over there.

I’m sure there is going to be the usual moans from the local media, and it sucks to lose the jobs. But it appears that a lot of good things are happening locally that can’t be ignored. And I agree, in a global economy this kind of stuff does happen. We can’t always expect to gain jobs and HQ from every relocation decision.
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  #2010  
Old Posted Sep 12, 2018, 6:39 PM
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At least these aren't downtown jobs being lost, although its still a loss for the metro as a whole. Crain's seems to think that all these soon to be unemployed workers will be a needed shot in the arm for the city's life sciences start ups. Apparently those kinds of skills are in very high demand locally. Hopefully their assessment is correct.
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  #2011  
Old Posted Sep 12, 2018, 8:25 PM
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At least these aren't downtown jobs being lost, although its still a loss for the metro as a whole. Crain's seems to think that all these soon to be unemployed workers will be a needed shot in the arm for the city's life sciences start ups. Apparently those kinds of skills are in very high demand locally. Hopefully their assessment is correct.
My neighbor is an employee at Takeda. They moved here from Boston 5 years ago. We briefly spoke about the situation. They have no plans to move back to Boston. His mindset wasn't all that different than what you see posted here. They both love the city and feel like they couldn't maintain their current lifestyle in Boston given the difference in cost of living. They own their home though, so I'm sure that complicates things. I'm sure they'll be fine, but the job losses are not ideal.
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  #2012  
Old Posted Sep 13, 2018, 2:05 AM
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^ Good that they don't necessarily want to leave. Hopefully that's how a lot of people will be.

In other news..
Cryptocurrency Exchange Startup Seed CX Raises $15M To Expand


Quote:
Chicago-based cryptocurrency startup Seed CX, which helps investors get the tech infrastructure to add cryptocurrencies to their portfolios and trading strategies, has raised a new round of funding to help it expand its service and staff.

The $15 million Series B round was led by Bain Capital Ventures and OKCoin, the company announced Wednesday. Seed CX now has more than $25 million in VC funding since launching in 2015.

The startup says it will use the new financing to broaden its network of institutional trading groups and hire new employees to put its staff at about 40 people. Seed CX, which currently employs 33 people in its Loop offices, said it will be filling positions primarily in operations, market surveillance and tech departments.
---------------------

Impact hiring 50 at expanded Michigan Avenue office

http://www.chicagobusiness.com/comme...-avenue-office

Quote:
Impact Networking is planning to hire around 50 new employees in Chicago over the coming months and is building out a new Michigan Avenue office to accommodate its rapid growth.

The Lake Forest-based business service and technology provider recently signed a 13-year lease for 19,000 square feet at 150 N. Michigan Ave., where it will move into the property's penthouse suite on the 40th and 41st floors, the company said.

It's an expansion from Impact's 7,000-square-foot office on the building's 21st floor, which it opened in September 2014 but will vacate when it moves into the new space in March.

Impact is out of room at its current office in the 41-story tower, where it houses 33 employees primarily in IT services and hardware sales, said CEO Frank Cucco. Demand for those parts of its business has exploded, he said, creating the need for more hires and more space.
----

Then there's a story about Madison Capital doubling its office space and hiring another 80 people, but the article says over the next "13 to 15 years" - not sure if they really meant months...stating you're going to hire 80 people over 13 to 15 years seems weird. Must be a typo..
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  #2013  
Old Posted Sep 13, 2018, 5:27 AM
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The Census is releasing its 2017 ACS data today for the 1 year study. I can't access it yet but I found I could get a few points of data through something on cleveland.com of all places.

* Chicago is still the #1 most college educated city of the top 5 largest cities.

* Chicago's median household income in 2017 was at $55,295. In 2010 it was $44,776 - an increase of $10,519. That increase is greater than what Dallas, Houston, Indianapolis, Philadelphia, etc gained. NYC's increase was greater by around $1500. Interestingly, the increase for Chicago from 2016 to 2017 was a little higher than NYC's - and Philadelphia's median income somehow decreased by nearly $1700 from 2016 to 2017

* Black persons percentage continues to fall. It's now just below 30% in the city. Meanwhile, Hispanic percent grew meaning that it's less than 1% below Black percent now in the city.

* Number of Asians in the city increased by something like 10,000 which was the largest change from one year to the next since 2010 to 2011. It now stands at 6.7%. In 2010, the percentage of Asians in the city was 5.55%
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  #2014  
Old Posted Sep 13, 2018, 1:27 PM
the urban politician the urban politician is offline
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Originally Posted by marothisu View Post
The Census is releasing its 2017 ACS data today for the 1 year study. I can't access it yet but I found I could get a few points of data through something on cleveland.com of all places.

* Chicago is still the #1 most college educated city of the top 5 largest cities.

* Chicago's median household income in 2017 was at $55,295. In 2010 it was $44,776 - an increase of $10,519. That increase is greater than what Dallas, Houston, Indianapolis, Philadelphia, etc gained. NYC's increase was greater by around $1500. Interestingly, the increase for Chicago from 2016 to 2017 was a little higher than NYC's - and Philadelphia's median income somehow decreased by nearly $1700 from 2016 to 2017

* Black persons percentage continues to fall. It's now just below 30% in the city. Meanwhile, Hispanic percent grew meaning that it's less than 1% below Black percent now in the city.

* Number of Asians in the city increased by something like 10,000 which was the largest change from one year to the next since 2010 to 2011. It now stands at 6.7%. In 2010, the percentage of Asians in the city was 5.55%
Oh my God we’re not dying? What will the media do? Oh wait, the media doesn’t know about any of this, which is great—they can keep pitching their false narratives...
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  #2015  
Old Posted Sep 13, 2018, 2:45 PM
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Oh my God we’re not dying? What will the media do? Oh wait, the media doesn’t know about any of this, which is great—they can keep pitching their false narratives...
False narratives give the city an unfair perception to the outside world. The media needs to dial the sensationalism back down from 11.

Great news overall though. The continued hemorrhage of the city's black community is unsettling, however. We need to continue the work we've done in bringing the homicide and violence rate down in parts of the south and west sides. Hopefully we see the city's black population stabilize in then ext few years...
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  #2016  
Old Posted Sep 13, 2018, 2:49 PM
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edit: double post
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  #2017  
Old Posted Sep 13, 2018, 2:58 PM
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The continued hemorrhage of the city's black community is unsettling, however. We need to continue the work we've done in bringing the homicide and violence rate down in parts of the south and west sides. Hopefully we see the city's black population stabilize in then ext few years...
yeah, it's a serious problem, but it's not all just about guns and gangs (the push factors), there's also the pull of the burbs for a lot of urban black residents. over the past couple decades many have been moving out to the burbs to get their slice of the "big house and a big yard" american dream that the white people who fled in decades prior we're chasing.

the expert prognosticators don't think black flight will be stopping anytime soon in chicago:

Quote:
Experts from the Urban Institute predict that by 2030, Chicago’s African-American population will shrink to 665,000 from a post-war high of roughly 1.2 million.
source: https://www.curbed.com/2018/7/31/176...reat-migration



think about that for a moment, from 1.2M in 1980 to ~665K 50 years later, that's nearly a 50% drop, going from 40% of the city population in 1980 down to 24% (assuming a 2030 population of 2,700,000).

that's a HUGE demographic shift.
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  #2018  
Old Posted Sep 13, 2018, 3:11 PM
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Originally Posted by Steely Dan View Post
think about that for a moment, from 1.2M in 1980 to ~665K 50 years later, that's nearly a 50% drop, going from 40% of the city population in 1980 down to ~24% (assuming a 2030 population of 2,700,000).

that's a HUGE demographic shift.
Just like the demographics shifts that brought many of their ancestors to this region in the First and Second Great Migrations.
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  #2019  
Old Posted Sep 13, 2018, 3:46 PM
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* Black persons percentage continues to fall. It's now just below 30% in the city. Meanwhile, Hispanic percent grew meaning that it's less than 1% below Black percent now in the city.
Where are you seeing this? The data I am seeing shows this for 2017:

Total population - 2,716,462
White - 1,416,081
Black or African American - 838,163
American Indian and Alaska Native - 24,401
Asian - 209,610
Native Hawaiian and Other Pacific Islander - 2,642
Some other race - 308,582

And this for 2016:
Total population - 2,704,965
White - 1,371,051
Black or African American - 834,073
American Indian and Alaska Native - 21,313
Asian - 198,728
Native Hawaiian and Other Pacific Islander - 3,619
Some other race - 356,784

A big increase in Whites and Asians, smaller increases for Blacks and American Indians/Islanders and a large loss for "Some other race".
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  #2020  
Old Posted Sep 13, 2018, 3:52 PM
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^ There is no way that whites make up over 50% of Chicago's population. Obviously a sizable chunk of what is called "whites" are Hispanics.

Hispanics are way the hell more than just 308k people in the city of Chicago
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