CHICAGO | Economic & Business Development

[marothisu]

Oh yes, that's a good one that happens a bit.

[UPChicago]

Originally Posted by marothisu

There are many reasons why companies do this, for example:
1) They could have superior tech to them
2) Their product could simply be better and they see a way to grow their revenue thru acquisition
3) They have something that makes Zillow's future plans for something easier/cheaper in the long run (and maybe in line with #2)

etc

There's many reasons. Just because someone has something implemented already doesn't mean they don't have a competitor who just simply did it better.

As a user of their services I can verify that none of the reasons you cite are true of ShowingTime. It is a real estate showing scheduling software which is embedded within the MLS.

[marothisu]

Originally Posted by UPChicago

As a user of their services I can verify that none of the reasons you cite are true of ShowingTime. It is a real estate showing scheduling software which is embedded within the MLS.

Well you also aren't the ones in charge at Zillow of acquisition or one to analyze a purchase decision there. It could simply be exactly what SIGSEGV just mentioned too. Companies don't typically purchase another company, especially for $500M, for no reason.

[jpIllInoIs]

Originally Posted by marothisu

Well you also aren't the ones in charge at Zillow of acquisition or one to analyze a purchase decision there. It could simply be exactly what SIGSEGV just mentioned too. Companies don't typically purchase another company, especially for $500M, for no reason.

Could be acquiring the competition to accelerate growth and increase dominance in the market. Something Microsoft has done forever, Salesforce is doing now.

[UPChicago]

If I had to guess they seems to be gearing up to create their own MLS or something like that.

Originally Posted by jpIllInoIs

Could be acquiring the competition to accelerate growth and increase dominance in the market. Something Microsoft has done forever, Salesforce is doing now.

Thats the thing they aren't competing it seems like a direct shot a realtors.

[marothisu]

It's kind of funny considering who founded it but curious to see what type of revenue they can get.


K4 Mobility raises $5.7M to bring internet to yachts and other ships

K4 Mobility, a startup founded by former Gogo CEO Michael Small, raised $5.7 million in new funding as it looks to bring internet connection to yachts and other large ships.

..

Led by Small, along with fellow former Gogo executives Rishi Potdar, Anand Chari and Bryan Lauer, K4 Mobility is helping ship crews and passengers get reliable and fast internet speeds while at sea. Similar to how in-flight WiFi maker Gogo helped bring internet to the skies, K4 wants to do the same for ships, starting with yachts. It also recently signed its first commercial shipping customer, and expects to add more shipping customers soon, Potdar said in an interview.

K4 Mobility has several dozen customers using its technology, and the startup expects to eventually sell to cruise lines and large fishing vessels, Potdar said.

He added that compared to planes, maritime internet connectivity is a much larger opportunity.

"There are about 40,000 planes in the air in a normal day," Potdar said. "There are 600,000 ships on the water. It's a much bigger market."

[SIGSEGV]

New UChicago Prez announced:

To: Members of the University Community
From: Joseph Neubauer, Chair of the Board of Trustees
Subject: Paul Alivisatos elected University President
Date: February 26, 2021

I am very pleased to announce that the Board of Trustees has elected Paul Alivisatos as the 14th President of the University of Chicago.

An accomplished leader in higher education and a world-renowned scientist, Paul is currently Executive Vice Chancellor and Provost at the University of California, Berkeley. He is also a Professor and the Samsung Distinguished Chair in Nanoscience and Nanotechnology Research in the Department of Chemistry and the former Director of the Lawrence Berkeley National Laboratory.

Following an extensive international search, Paul was elected President at a meeting of the University’s Board of Trustees on February 25 and will assume his role on September 1. The Board acted on the unanimous recommendation of the 12-member Trustee Search Committee, which has worked closely with the 10-member Faculty Advisory Committee over the last six months.

Paul will succeed Robert J. Zimmer, who has served as President since 2006. Bob will transition into a new role as Chancellor of the University on September 1.

A native of Chicago, Paul is also a proud University of Chicago alumnus, having received his bachelor’s degree in chemistry in 1981.

Throughout his distinguished academic career, Paul has demonstrated the skills and imagination needed to be an inspirational leader, confront the challenges of our time, and guide the University of Chicago during a period of enormous opportunity. He has the vision to further elevate the University’s eminence, uphold its rich traditions and enduring values, and make an impact on higher education and the lives of University students, faculty, and staff, as well as enrich the South Side community.

As Berkeley’s Executive Vice Chancellor and Provost, Paul has been responsible for the planning, development, implementation, and improvement of campus academic programs and policies. Since taking the role in 2017, he has supported new initiatives to increase diversity in the undergraduate and graduate student body and achieve greater faculty and leadership diversity. He also has been deeply engaged in issues of free speech and social justice.

Paul also spearheaded efforts to transform undergraduate education—leading a campus-wide initiative that created immersive learning projects and discovery experiences for students, while starting a series of forums that promoted mentoring between faculty and graduate students. During his tenure, Berkeley also launched a new division focused on data science, creating opportunities for students in the humanities and the social sciences to join the fast-growing field.

Paul oversees a significant development portfolio as Provost. Annual giving to Berkeley exceeded $1 billion in 2020, with Paul stewarding more than $450 million in gifts from 2016 to 2020. As Director of Lawrence Berkeley National Laboratory from 2009 to 2016, Paul guided the U.S. Department of Energy lab through a period of transformational change, creating new programs in biosciences, renewable energy, and entrepreneurship. From 2016 to 2017, he served as Berkeley’s Vice Chancellor for research, fostering greater interdisciplinary faculty research and strengthening opportunities for undergraduate research.

A preeminent scientist and entrepreneur, Paul has made pioneering research breakthroughs in nanomaterials. His inventions are widely used in biomedicine and QLED TV displays, and his scientific advances have yielded more than 50 patents. He also founded two prominent nanotechnology companies: Nanosys, Inc. and Quantum Dot Corp. (now part of Thermo Fisher).

Among his more than 25 awards and honors, Paul has received the National Medal of Science, the Wolf Prize in Chemistry, and the Priestley Medal. It also was announced this week that Paul will share the prestigious international BBVA Frontiers of Knowledge Award. He is a member of the National Academy of Sciences, the American Academy of Arts and Sciences, and the American Philosophical Society.

After receiving his bachelor’s degree from the University of Chicago, Paul earned his Ph.D. in chemistry from the University of California, Berkeley in 1986. Paul joined the Berkeley faculty in 1988 as Assistant Professor, was appointed Associate Professor in 1993 and Professor in 1995.

Paul will work closely with Bob in his new role as Chancellor, in which Bob will focus on high-level strategic initiatives, stewardship and development of key relationships, and guiding high-level fundraising. In his nearly 15-year tenure as President, Bob increased the University’s eminence and helped raise its status among the world’s top research universities. I look forward to Bob continuing his essential contributions to the life of the University as Chancellor, and his partnership with the incoming President.

The Trustee Search Committee and Faculty Advisory Committee received recommendations and feedback from the University community and friends of the University, which was an important part of the search process. I want to thank the members of the Trustee Search Committee and the Faculty Advisory Committee, who worked tirelessly over the past six months to conduct a broad international search for the new president.

The Faculty Advisory Committee played an important role in the initial candidate development effort. In addition to vetting the many nominations received from the University community and from the Trustee Search Committee, they independently reviewed the names of presidents, provosts, deans, and other leaders of many top institutions, including select international institutions. Their review of these individuals generated an additional list of possible candidates for consideration.

Prospective candidates approached included a diverse group of individuals, including presidents, provosts, and deans of private and public institutions. Candidates included a broad range of disciplines, backgrounds, and demographics.

The Faculty Advisory Committee also conducted dozens of listening sessions with members of the University community, including faculty, students, alumni, staff, and former University presidents. Members of the Trustee Search Committee participated in several of these meetings, in which our community shared their insights on the opportunities and challenges facing the University.

In the coming months, Paul will be meeting with faculty across the University and working closely with the deans and vice presidents as he begins his transition to this new role.

Please join me in welcoming Paul and his wife Nicole to the University of Chicago community.

Zimmer's remarks:

To: Members of the University Community
From: Robert J. Zimmer, President
Subject: The Next President of the University of Chicago
Date: February 26, 2021

The University Board of Trustees and I previously announced that I plan to conclude 15 years of serving as President of the University of Chicago this summer, at which point I will segue into the role of Chancellor. In that role I will focus on key strategic initiatives for the University, supporting the University’s enduring values, maintaining and continuing to build key relationships that span many aspects of University life and work, and high-level fundraising. I will continue to serve as a Trustee of the University. To complete this transition, the Board undertook one of its key responsibilities and began an international search for my successor as president, with a search committee of Trustees chaired by Board Chair Joe Neubauer and advised by a faculty committee based on recommendations of the Council of the Faculty Senate and the deans.

Today the University’s Board of Trustees announced that Paul Alivisatos has been named as the 14th President of the University of Chicago, effective September 1, 2021. Paul is an alumnus of the College of the University of Chicago, and is currently Executive Vice Chancellor and Provost at the University of California, Berkeley. He is also a Professor and the Samsung Distinguished Chair in Nanoscience and Nanotechnology Research in the Department of Chemistry. He previously served as Director of Lawrence Berkeley National Laboratory, a Department of Energy science laboratory in the same DOE laboratory system as Argonne and Fermilab. This outstanding choice will serve the University community and our partners locally and around the world well in the coming years. I have known Paul in our professional capacities, and I have found him to be an extraordinary scholar and academic leader. Moreover, being an alumnus of the College gives him an understanding of and commitment to our distinctive approach to education and research, and to the particular values and meaning that this entails.

The University of Chicago is characterized by a distinctive approach to our work of research, education, and impact, and we share ambitious aspirations for the future. Paul is superbly equipped to serve as President of the University in a way that honors its legacy while building upon it for the next generation of scholars and students. I look forward with great enthusiasm to working with him in my new position as Chancellor of the University, to meet the opportunities and challenges ahead while drawing on the University’s enduring values and distinctive perspective on the importance of intellectual challenge, and the diversity of perspectives and backgrounds that fosters such an environment.

With my 15 years as President coming to a conclusion, I want to express my gratitude for this opportunity and my confidence in the future of the University. I am particularly grateful for the personal relationships that I have developed with people across the University and well beyond. These relationships span all aspects of life at the University, our education and research programs, vital engagement with communities of the South Side of Chicago, our work at the Medical Center and National Laboratories, and our work around the globe. Through shared commitment to this University’s uniquely challenging intellectual environment, together we have made lasting contributions to the University’s support for students and capacity to change the trajectory of families, we have built the conditions for faculty to forge new areas of study with originality, depth, and impact, and we have worked to expand the scope of positive impact that members of the University community have throughout the world, and very importantly built partnerships with citizens, organizations, and elected officials on the South Side of Chicago to work together to enhance the well-being of our South Side communities and the City of Chicago more broadly. This work and these relationships have been deeply rewarding for me, on one hand because they have helped advance the highest aspirations of a University with great meaning and purpose, and on the other because of the opportunity to get to know a remarkable set of individuals of great values who work to manifest these values through work and actions of meaning.

I look forward to working in partnership with Paul on the ever-fresh challenge of setting an ambitious path for the University. In addition to the other areas of focus in my new role, I will support and advise Paul as he establishes perspectives on his many responsibilities as President.

Thank you for your contributions to advancing the vital mission of this University. Please join me in offering Paul a most warm welcome and wishes for continued success.

[the urban politician]

^ That's nice, but what does that news have to do with the main topic of this thread?

[SIGSEGV]

Originally Posted by the urban politician

^ That's nice, but what does that news have to do with the main topic of this thread?

A University President's primary job is fundraising and a large research university has a major economic impact on the city?

Also. one might imagine that a University president with nanotech entrepreneurial experience may influence the future of some of the University's local incubator efforts.

[sentinel]

Originally Posted by SIGSEGV

A University President's primary job is fundraising and a large research university has a major economic impact on the city?

Also. one might imagine that a University president with nanotech entrepreneurial experience may influence the future of some of the University's local incubator efforts.

Absolutely agree - it is an important development and relevant for this thread, especially considering how UC is positioning itself (and Chicago at large) as a leader in quantum computing.

[bnk]

I post this every year with less and less fanfare. But once again Chicago comes out on top on expansions and new business projects even without Rahm. The mayors office should be shouting this out.







https://siteselection.com/issues/202...e-no-other.cfm


TOP METROS OF 2020

From Site Selection magazine, March 2021






A Year Like No Other: U.S. Metro Area Rankings Expand and Reflect the Unusual Story of 2020



by Gary Daughters

TOP METROS of 2020

Amazon expansions in Chicago represent three times the square footage of Willis Tower, the city’s tallest skyscraper.






In a pandemic-driven season that saw a surge of e-commerce, our Top Metros feature a strong presence of logistics hubs like Chicago, the Midwest megaregion that returns to its spot at the top of our Tier 1 rankings.

Indeed, the Midwest makes a resounding statement with not just Chicago, but Toledo, Ohio, and Sioux City, Iowa, emerging from the nationwide pack as Tier 2 and Tier 3 winners, Toledo sharing its first-place finish with fellow first-timer Savannah, Georgia.

...




Top Metros

Site Selection’s Top Metros rankings are based on accumulations of major capital investments in corporate end user facilities within a given core-based statistical area (CBSA) or metropolitan statistical area (MSA), as defined by the Census Bureau. Such areas can bleed across multiple jurisdictions, even states. Qualifying projects are tracked by Site Selection’s proprietary Conway Data Projects Database, which qualifies investments that meet at least one of three criteria: a minimum $1 million capex; 20 or more jobs created; or 20,000 sq. ft. or more of new space.

We divide metros into three tiers, according to population. It is our own calibration, but one you might see emulated elsewhere. Tier 1 metros are those with more than a million residents. Tier 2 populations range from 200,000 to 1 million, and Tier 3 metros have populations of less than 200,000. We address “Top Micropolitans” in a separate report found on p. 109 of this issue.

New Trends, and Chicago Still Wins

Ask around about the industrial real estate market in Chicago and you’ll hear words like “insane,” “staggering” and “wild.” In its year-end report, Colliers International characterized 2020 as a record year for Chicago, with 48.6 million sq. ft. (4,515,090 sq. m.) of new industrial leases signed, a 28% increase from 2019. That, in a pandemic year.

It’s indicative of a nationwide trend. As CBRE wrote in a year-end report:

“The U.S. industrial market cemented itself as the most in-demand commercial property sector in 2020, fueled by a large increase in e-commerce sales due to COVID-19 restrictions. Demand for industrial buildings of all sizes surpassed 2019 totals but [was] strongest in mega-distribution facilities of 1 million sq. ft. or more. The top 100 transactions last year totaled 103.8 million sq. ft., 17% above 2019’s total.”


“The institutional developers really started catching on about 24 months ago.”
— Trip Tollison, President and CEO, Savannah Economic Development Authority


Of the Chicago metro’s top-ranking 327 qualifying projects, a hefty 203 have a connection to warehousing and distribution, as e-commerce rocked the market. Another relevant piece of data: A total of 23 qualifying projects in Chicago can be attributed to just one investor: Amazon. Amazon’s investments in Chicago, totaling in the hundreds of millions of dollars, prompted Crain’s Chicago Business to declare in August that, “the Seattle-based e-commerce giant has emerged as the Chicago economy’s biggest growth engine.”

In addition to facilitating pandemic-driven demand for home delivery, Amazon’s spree is partly a matter of making up for lost time in Chicago, according to Scott Gibbel, vice president-Chicago for national developer IDI Logistics.

“Amazon was slow to establish their footprint in the Chicago market, initially servicing the area out of southeast Wisconsin and the far west suburbs,” Gibbel tells Site Selection. “Then, at the start of 2020 they really ramped up their local network, absorbing over 15 million sq. ft. [1,393,00 sq. m.] in the Chicago market. Why? Because there are over 9 million people in the Chicagoland area that are buying online and they didn’t have the infrastructure in place to support that.”

While notably prolific, Amazon is far from the only retailer beefing up its distribution capabilities in Chicagoland, a market within 750 miles (1,207 km.) of 42% of the nation’s population. Qualifying investments in warehousing and distribution came from Target (991,000 sq. ft./92,065 sq. m.); Walmart (192,000 sq. ft./17,840 sq. m.); Ace Hardware (180,000 sq. ft./16,720 sq. m.); Home Depot (120,000 sq. ft./11,150 sq. m.) and Lowe’s (115,000 sq. ft./10,689 sq. m.).

The pandemic, market analysts say, has accelerated momentum toward “just-in-case” inventory management, which means keeping extra product on hand for on-demand delivery, thus mandating expanded storage space.

“Remember,” says Gibbel, “we couldn’t buy paper towels and toilet paper. How is that possible? Retailers learned quickly how costly stockouts are, and they are strategically expanding their warehousing requirements to accommodate additional safety stock.”

That same fear of missing a sale, says Gibbel, prompted retailers to bite the bullet in 2020 and pay a premium for air shipments from overseas to avoid ocean shipping bottlenecks. Chicago’s O’Hare International Airport thus handled $200 billion worth of freight in 2020, tops in the U.S.

“We can’t build warehousing quickly enough around O’Hare Airport,” says Patrick Turner, senior vice president, Colliers Chicago. “As quickly as these new facilities are being constructed, they’re being leased. If you have a good site close to the airport, you’re going to have a dozen interested parties fighting it out to see who can get control of it. The competition is that fierce.”

Third party logistics providers (3PLs) are “blowing it up” in Chicago, says Gibbel. The 3PL investments in the Chicago market totaled in the tens of millions of square feet, with SRC Logistics of Springfield, Illinois, leading the way with a 1-million-sq.-ft. (92,900-sq.-m.) warehouse in the Joliet submarket. Other such investments include those by: Geodis (400,000 sq. ft./3,160 sq. m.); Quality Custom Distribution (356,000 sq. ft./33,075 sq. m.); Champion Packaging and Distribution (283,000 sq. Ft./26,290 sq. m.) and Lineage Logistics (241,000 sq. ft./22,390 sq. m.).

IDI, says Gibbel, expects to break ground over the next 12 months on at least three speculative warehousing projects, a sign of the developer’s confidence in the continuing verve of the Chicago market, pandemic or no.

“The growth and adoption of e-commerce was already happening,” says Gibbel. “This pandemic just acted as an accelerant, and developers are adapting with users on supply chain solutions. This trend will help contribute to what many believe will be a record year for new leasing activity.”


...

[bnk]

looks like world business Chicago is tooting its horn.






https://www.prnewswire.com/news-rele...301236907.html



Chicago Named Top Corporate Metro Eight Years In A Row

Chicago leads the nation in corporate investment in 2020, according to Site Selection magazine






News provided by
World Business Chicago 
Mar 01, 2021, 07:00 ET

CHICAGO, March 1, 2021 /PRNewswire/ -- Mayor Lori E. Lightfoot today announced that for the eighth consecutive year, Site Selection magazine ranked Chicago "Top Metro" in the United States for corporate investment. In 2020, the Chicago metro once again saw more new and expanding corporate locations than any other metro area in the country.

"Being the nation's leading destination for corporate relocations and expansions—especially during this unprecedented year—is a testament to the resiliency and strength of Chicago's talented workforce, world class infrastructure and diverse economy that's able to weather any storm," said Mayor Lightfoot. "Our continued success in attracting businesses is the direct result of our citywide efforts to collaborate with our corporate partners and develop the resources and supports they need grow their companies and shape their industries across the global, 21st century marketplace."




For the 8th consecutive year, Site Selection magazine ranked Chicago "Top Metro" in the U.S. for corporate expansion.

Site Selection tracked 327 business expansions and relocations in the Chicago Metropolitan Area, accounting for nearly $6 billion in investments. Major corporate expansions last year reflected growth in top industries, from tech to life sciences to food and manufacturing, including Evozyne, Affirm, Aspen Dental, Blue Cross Blue Shield, Hillshire, Nature's Fynd, Method Products, and Focal Point Lighting; citing Chicago's diverse pipeline of talent, global connectivity and other core strengths as reasons why.

"We chose Chicago as our company's headquarters because of access to skilled, educated, and diverse talent, ease of doing business, and our unique ability to grow our Fy Proteinä in a bustling city. Chicago has proven itself to be a continually-growing hub for food innovation and investment. From incubators to accelerators, to leading VC investment from coast-to-coast, and an incredibly supportive business community, Chicago is a driving force in increasing sustainable foods that nourish our bodies and our planet for generations to come," said Nature's Fynd CEO Thomas Jonas.

"During the unprecedented challenges the country has confronted over the last year, Chicago has demonstrated that it is uniquely positioned to assist businesses," said Michael Fassnacht, Interim President & CEO, World Business Chicago. "Chicago's number one ranking reflects both our supportive business community and our inclusive economic development model that will continue to serve as our city's strong competitive advantage in the months and years ahead."

"This marks the eighth consecutive year of Chicago being identified as Site Selection's Top Tier-1 Metro," said Site Selection Senior Editor Gary Daughters. "Such consistency across changing economic trends and conditions is testament to a region of unchallenged economic diversity, innovation and commitment, three necessary components of any effective economic development strategy."

Chicago was the first major U.S. city to publish an economic recovery plan in July of 2020, a product of an economic recovery task force co-chaired by Mayor Lightfoot and former White House Chief of Staff Samuel Skinner, involving more than 200 industry experts, regional government leaders, community-based partners, and policymakers. Chicago experienced less COVID-19 related restrictions than other major cities like New York City and Los Angeles while consumer spending has remained high, often outperforming other cities. Business and corporate leaders should be confident Chicago's rebound will see substantial growth as the city recovers from this unprecedented pandemic. The Recovery Task Force's plan provides critical insights to help Mayor Lightfoot and her administration to balance a robust health response with a strategic economic and social response to address the many challenges presented by COVID-19 and longstanding social and racial inequities. Today, the implementation of the Recovery Task Force economic recovery plan is well underway, helping support and fuel the growth within manufacturing, food and agriculture, technology, and transportation, distribution and logistics as well as other high impact industry sectors. This is driving inclusive economic growth, expanding jobs, and promoting the best of Chicago all over the world—from the strength, talent and diversity of our people, to our top-notch education institutions, world class transportation, and Chicago's 77 culturally rich neighborhoods.

ABOUT WORLD BUSINESS CHICAGO
World Business Chicago is a public-private, non-profit partnership that drives inclusive economic growth and job creation, supports business, and promotes Chicago as a leading global city. Learn more at worldbusinesschicago.com

ABOUT SITE SELECTION
A key source for the corporate relocation community, Site Selection magazine focuses on new corporate facility projects with significant impact, such as headquarters, manufacturing plants, R&D and logistics sites. In order to be considered, new facilities and expansions must meet at least one of three Site Selection criteria: (a) capital investment of at least $1 million, (b) create at least 20 new jobs or (c) add at least 20,000 square feet of new floor area. Site Selection is published by Conway Inc., which is headquartered in Atlanta, GA.

SOURCE World Business Chicago

[Randomguy34]

This is a good sign that the Chicago area can attract a large portion of new green energy jobs over the next decade

Biggest hydrogen fuel cell factory in U.S. coming to Bolingbrook

A New York-based company that develops hydrogen-powered commercial trucks is going to begin producing fuel cells in Bolingbrook later this year.

Hyzon Motors said it will begin manufacturing in a 28,000-square-foot facility by yearend and eventually hire about 50 people. It says the Bolingbrook facility could produce enough fuel-cell membrane electrodes for up to 12,000 trucks a year and will be the largest plant of its kind in the U.S. Most of the production for hydrogen fuel-cell components is overseas, Hyzon says.

Hyzon, based near Rochester, N.Y., plans to go public through a SPAC, or special-purpose acquisition company, in the second quarter.

Hydrogen-vehicle technology has been in development for decades. Such vehicles make their own electricity, which is an advantage over electric vehicles, which rely on power produced at plants that also emit carbon to produce energy.

But hydrogen hasn’t been adopted nearly as widely as electric vehicles. There are fewer than 10,000 hydrogen-powered passenger vehicles on the road in California. Toyota launched hydrogen vehicles in the U.S. in 2015. Honda and Hyundai also are experimenting with hydrogen fuel-cell vehicles.

https://www.chicagobusiness.com/manu...ng-bolingbrook

[OrdoSeclorum]

Originally Posted by bnk

I post this every year with less and less fanfare. But once again Chicago comes out on top on expansions and new business projects even without Rahm. The mayors office should be shouting this out.


...

Even excluding the 2/3 of Chicago's expansion that's in logistics and warehousing, Chicago would be in 5th place on this list.

[marothisu]

I know we champion the more white collar, higher paying jobs, but the fact that there's so much new warehousing space in Chicago is a good thing. Maybe they aren't as full of as many jobs as if those were around 25 years ago, but still an increase in jobs nonetheless. Like the 250 new jobs coming to Romeoville I posted about last week for a new Wayfair facility.

These aren't massive paying jobs, but at least they do provide some sort of livable wage. Someone making $15/hour full time is going to have the opportunity to make around $30K/year. It's not a ton but a family where both parents are making that represents $60K/year. In some of these suburbs where you can still buy a home for under $250K....it could be worse. They should be able to afford a house if that's the case.

All I have to ask is - Amazon, how the hell do you miss out originally on Chicago and just *now* open all this up? Wouldn't it be common sense to open up awhile ago considering Chicago area has 9.5 million residents? I'd think it's a given to have a ton of space in the largest metro areas in the country.

[jpIllInoIs]

Chicago named number two data center market in the worldhttps://rejournals.com/chicago-named...-in-the-world/

A recent report from Cushman & Wakefield’s data center advisory group looked at 48 data center markets—from Amsterdam to Zurich and everything in between—and rated each on a series of metrics. The researchers placed Chicago in the top ten for numerous categories—including development pipeline, fiber connectivity, cloud availability, land price, vacancy and market size—ultimately bestowing the Second City with the number two spot in the world.

What makes for a good site? Access to a reliable power grid, strong fiber connectivity, local government incentives, easily available water for cooling, limited natural disasters and a helpful local permitting process. Chicago checks all these boxes.

The more densely populated a market is, the greater its need for data centers. But this also typically means that the cost for the dirt is higher than in other locations. Many developers are targeting secondary U.S. markets like Columbus, Nashville and Denver, though larger data center markets, including Chicago, also placed highly. This suggests that larger campus builds are still a cost-effective strategy in Chicago.

[SIGSEGV]

Originally Posted by jpIllInoIs

Chicago named number two data center market in the worldhttps://rejournals.com/chicago-named...-in-the-world/

A recent report from Cushman & Wakefield’s data center advisory group looked at 48 data center markets—from Amsterdam to Zurich and everything in between—and rated each on a series of metrics. The researchers placed Chicago in the top ten for numerous categories—including development pipeline, fiber connectivity, cloud availability, land price, vacancy and market size—ultimately bestowing the Second City with the number two spot in the world.

What makes for a good site? Access to a reliable power grid, strong fiber connectivity, local government incentives, easily available water for cooling, limited natural disasters and a helpful local permitting process. Chicago checks all these boxes.

The more densely populated a market is, the greater its need for data centers. But this also typically means that the cost for the dirt is higher than in other locations. Many developers are targeting secondary U.S. markets like Columbus, Nashville and Denver, though larger data center markets, including Chicago, also placed highly. This suggests that larger campus builds are still a cost-effective strategy in Chicago.

Here's the actual ranking from Cushman and Wakefield:
https://cushwake.cld.bz/2021-Data-Ce...Comparison/40/

[the urban politician]

Remember back when Rahm used to talk about these headlines, and plug Chicago's virtues to the world?

Sigh........ we simply don't have a local economic champion among elected leaders any more.

[left of center]

Originally Posted by marothisu

All I have to ask is - Amazon, how the hell do you miss out originally on Chicago and just *now* open all this up? Wouldn't it be common sense to open up awhile ago considering Chicago area has 9.5 million residents? I'd think it's a given to have a ton of space in the largest metro areas in the country.

$$$ is the answer to your question, lol.

Illinois was one of the first states to enact laws that forced online sellers with a presence in the state to charge sales tax on their products. This was originally based on where the products shipped out from. So if an online seller shipped from a warehouse in Aurora, regardless of where in the state they shipped, they would have to charge their customers the Aurora sales tax rate (much like any brick and mortar retailer). Thus, Amazon placed their warehouses in SE WI and NWI as a way to avoid having to do that.

Laws have changed drastically since then, pretty much across the whole country, with online purchases being charged the sales tax rate of the municipality of the delivery location. Amazon was a bit slow to adapt to this initially. The growing demand for two day/one day/same day delivery was the main impetus for Amazon to start opening up warehouses in IL in the last few years. The massive surge in online sales spurred on by the pandemic obviously sped things up substantially.

[marothisu]

Thats true, but I thought the rest of the country made similar laws back in 2017 thru 2019..