CHICAGO | Economic & Business Development

[the urban politician]

Hey, Coke. We've got the real thing right here.

Why is the beverage behemoth adding jobs in Georgia, when it could be growing in Illinois?
CHARLES ORLOWEK

https://www.chicagobusiness.com/opin...ing-right-here

^ While I agree with championing Chicago over Atlanta, I sort of don't get the point of this article. There is no discussion whatsoever of Coca Cola considering a move out of Atlanta. It's literally just one guy telling Coca Cola to move here. But still figured I'd post it here.

[marothisu]

Originally Posted by jboy560

Awesome news! Does anyone know how Chicago compares to other metros YTD with respect to VC, unicorns, number of deals, etc? I’m trying to find a breakout to compare how well we’re doing comparatively.

I've been collecting the data. Chicago is doing very well this year at over $4B. However, the usual suspects are doing very well. Nobody is even coming close to touching the Bay Area. Chicago is higher than DC, Atlanta, Dallas, Seattle, San Diego, Houston, Miami, etc etc but below LA, NYC, Bay Area, and Boston.

Here is the good news though. Chicago area has the highest percentage change of any metro area YOY right now. Also, the total amount of funding for Chicago this year is on par with what LA area was doing in 2019. That is very good no matter the fact that other areas like LA, NYC, etc have more this year..

LA has also been the beneficiary of some huge funding rounds too this year. It's possible if Chicago keeps up this pace next year that it will have actually closed the gap between it and LA. But ...so early. Who knows what will happen.

I think its important to focus on the percentage increases and how the total amounts are on par with 2019 LA area. Chicago isn't overtaking Bay Area, LA, NYC, or Boston anytime soon but that is nothing bad because the increases Chicago has had the last 2 years is quite amazing.

[Tom In Chicago]

Originally Posted by marothisu

Chicago is higher than DC, Atlanta, Dallas, Seattle, San Diego, Houston, Miami, etc etc but below LA, NYC, Bay Area, and Boston.

This doesn't seem unreasonable. . .

. . .

[ChiMIchael]

But how far behind is Chicago from the top cities? I don't pretend I know much about VC but I learn the being the best of the rest isn't that remarkable to me.

[the urban politician]

Originally Posted by ChiMIchael

But how far behind is Chicago from the top cities? I don't pretend I know much about VC but I learn the being the best of the rest isn't that remarkable to me.

^ How much of a hog butcher to the world was SF 100 years ago compared to Chicago?

That much

[sentinel]

Originally Posted by the urban politician

^ How much of a hog butcher to the world was SF 100 years ago compared to Chicago?

That much

Huh???

[marothisu]

Originally Posted by ChiMIchael

But how far behind is Chicago from the top cities? I don't pretend I know much about VC but I learn the being the best of the rest isn't that remarkable to me.

Right now Chicago area is $4B+. LA, NYC, Boston areas is around $10B+ each. Bay Area (SF and San Jose) is somehow already over $40B. On the other hand Atlanta area is like $2.7B maybe, Miami area is just over $1B, San Diego area is $3B+, Seattle area is $3B+, Austin I think is something like $2.7B,. Houston I don't think has even passed $1B yet.

For the record this is all industries whether tech, medical, beverage, etc. Funding this year is off the hook especially the Bay Area. I'll be honest. The more I look at it, the more it looks like a bubble especially in the Bay Area. While most places are having median funding rounds of $5M to $10M, Bay Area is just pulling massive amounts of $50M to $300M rounds at an obscene level. If I didn't know any better I'd just assume some of it is money laundering.

I'll have more data at another time but this should give you an idea.

[the urban politician]

I seriously need to get a startup going. Maybe I’ll get into money lending.

Who wants a loan?

[sixo1]

This week the State of Illinois joined Amsino Medical Group and City of Aurora officials for a ribbon cutting to celebrate the company's new $32 million North American operations center in Aurora. With support from state and local officials, the global medical - healthcare products company has established a new 222,000 square foot manufacturing and distribution hub.

Choosing Illinois over Texas and Wisconsin, and citing local resources and a skilled talent pool, the operations hub will create 110 new well-paying local jobs and enable the growing medical device company to quickly scale up to fulfill soaring demand for its products from coast to coast. The company produces equipment for feeding systems, medication delivery systems and other therapeutics, and has seen a strong increase in demand since the onset of the pandemic.

(Source)

[moorhosj1]

Largest Aviation Maintenance School in U.S. Lands in McKinley Park

The biggest campus of the largest aviation maintenance school in the United States is moving into the McKinley Park neighborhood, preparing for several hundred students per graduating class studying daily at the converted Logistics Property Co. warehouse at 3711 S. Ashland Ave., Chicago.

Starting this fall, the Aviation Institute of Maintenance (AIM) will begin classes for its Aviation Maintenance Technician program, along with opportunities to learn adjunct skills like welding, avionics and, eventually, certified drone piloting and maintenance, said AIM Executive Vice President Dr. Joel English.

[ardecila]

Good! This is a beautiful old warehouse building, I'm glad to see it finding new tenants instead of getting torn down for more Amazon truck parking like the land to the north and south.

Actually this whole stretch along 37th and S. Iron is a hidden gem (north part of Central Manufacturing District).

[bnk]

Originally Posted by moorhosj1

Largest Aviation Maintenance School in U.S. Lands in McKinley Park

Where was this school previouly located? cant find it in the article..

[bnk]

Originally Posted by the urban politician

Hey, Coke. We've got the real thing right here.


^ While I agree with championing Chicago over Atlanta, I sort of don't get the point of this article. There is no discussion whatsoever of Coca Cola considering a move out of Atlanta. It's literally just one guy telling Coca Cola to move here. But still figured I'd post it here.

Is there a back door to this without a subscription?

if not a quick summary.

[galleyfox]

Originally Posted by bnk

Is there a back door to this without a subscription?

if not a quick summary.

There’s really nothing newsworthy in the article.

Coca-Cola is consolidating some positions in Atlanta, including relocating Minute Maid functions from Texas.

Then he article mostly just describes how ConAgra and a few other consumer corps relocated their HQs to Chicago.

[marothisu]

2 more Chicago companies going public via SPACs

* Fast Radius (3D printing) - Valued at $1.4B
* Kin Insurance - Valued at $1B

https://www.chicagobusiness.com/john...g-public-spacs

[SamInTheLoop]

Originally Posted by ardecila

Good! This is a beautiful old warehouse building, I'm glad to see it finding new tenants instead of getting torn down for more Amazon truck parking like the land to the north and south.

Actually this whole stretch along 37th and S. Iron is a hidden gem (north part of Central Manufacturing District).

Wishful thinking. I think you're confusing it for the long, narrow building next door, at 3701 S Ashland - and yes, that building is absolutely stunning. This is new construction, on the site of that spectacular winter fire from several years back that encased everything in 1' thick ice - https://www.theatlantic.com/photo/20...g-fire/100445/ .

At least they put a mural up on the Ashland side of the new building - vast improvement over a huge blank white wall https://rejournals.com/urban-infill-...es-public-art/

Still a pretty cool type of new use for what is essentially your standard new infill logistics building.

[marothisu]

Nature's Fynd raises $350 million, plans fall debut on shelves

https://www.chicagobusiness.com/cons...-debut-shelves

Nature’s Fynd, a Back of the Yards-based startup growing meat from a microbe, just became a Chicago unicorn.

The company had already secured big-name investors, including firms backed by Al Gore, Jeff Bezos, Bill Gates and ADM. Its latest round of funding is $350 million, bringing its total funding raised to more than $500 million. The round was led by a new investor, the latest fund from SoftBank, and drew new and repeat investors, according to a press release.

..

Nature’s Fynd isn’t disclosing its exact valuation, but chief marketing officer Karuna Rawal said the new round of funding puts Nature’s Fynd “firmly in the unicorn status.” Unicorn is industry jargon for a startup that is valued at $1 billion or more. Nature’s Fynd marks the 10th Chicago company to reach the status this year, according to World Business Chicago.

..

The protein Nature’s Fynd produces is made from a microbe in the fungi kingdom found in a Yellowstone National Park hot spring more than a decade ago. The microbe was discovered on a NASA-supported research mission with the initial goal of figuring out what type of extreme environments could foster life on other planets.

The protein is called Fy and is grown through a fermentation process. It is a complete protein, with all 20 amino acids, and is sustainable to produce. It is also versatile. In the company’s test kitchen, it has been made into meatless chicken nuggets, sausage patties and hot dogs; crafted into dairy-free chocolate mousse and cheese dips; smeared on bagels; and put inside pot stickers.

..

Nature’s Fynd released its first products directly to consumers earlier this year. The $15 breakfast bundle, which included vegan cream cheese and breakfast patties, sold out in 24 hours. In the press release today announcing the new funding, CEO Thomas Jonas said the response “clearly showed that we can meet our consumers’ expectations for delicious meat and dairy alternatives with no trade-offs.”

The company plans to release its first products at retail locations this fall, Rawal said. Its breakfast items will likely be first, she said, with other products to follow.

..

Nature’s Fynd employs about 100 people and plans to double headcount over the next few quarters, Rawal said. The company recently added teams in Singapore and India and plans to expand into other regions. Jonas said in the press release that there will be a special focus on Asia, “where there is substantial demand and need for sustainable protein.”

SoftBank saw the “tremendous global opportunities in front of” Nature’s Fynd and wants to help the company scale, Angela Du, investment director at SoftBank Investment Advisers, said in the press release.

[aaron38]

This is just a shout out because I didn’t know it was there.
My wife had lunch yesterday at the Cabana Club in the Hotel Robey. It’s on the 6th floor of the old Northwest Tower at Milwaukee/North/Damen.

She said they have a great skyline view. Next time I’m in the area I’m going up there for a drink.
https://www.therobey.com/#robey

[emathias]

Originally Posted by the urban politician

I seriously need to get a startup going. Maybe I’ll get into money lending.

Who wants a loan?

Do you offer no income verification and no payback options?

[the urban politician]

Originally Posted by emathias

Do you offer no income verification and no payback options?

Sure, which means my business will last about....3 days