No. of Recommendations: 0
Sorry, 2828.


Survey: More companies, jobs to head back into Chicago

(Crain's) — Expect companies and jobs to continue moving back to the city.

Almost 80 percent of 12,000 area professionals surveyed by Ernst & Young LLP say they believe companies will keep moving from the suburbs to downtown. Google Inc. decided to move more than 2,000 Motorola Mobility Inc. workers from Libertyville to downtown after it bought the cellphone maker. United Airlines also moved downtown from Elk Grove Village, and Hillshire Brands, Sara Lee's meat business, is moving to the city from Downers Grove.

*****

The city has been particularly attractive to technology companies that have found that younger workers are less likely to move to the suburbs than previous generations.

“Chicago is the most livable city in the U.S. in terms of cost and quality of culture, and the diversity of work opportunities,” says Brad Keywell, co-founder of venture fund Lightbank and the organizer of Ideas Week. "That appeals to young people who are just entering the workforce who want to be around other young people.”

However, it creates challenges for suburbs faced with losing major employers and taxpayers amid a growing glut of office space.


Full article:

http://www.chicagobusiness.com/article/20121010/NEWS08/12100...


Well, I thought it was interesting.
Print the post Back To Top
No. of Recommendations: 0
"The city has been particularly attractive to technology companies that have found that younger workers are less likely to move to the suburbs than previous generations."

The city has lots of apartments and you don't need a car

1/3rd of college grads don't own a car or even have a drivers license.

Plus, a lot of them have a lot of student debt and can't afford a car or their own place to live, so they get a couple roommates and share an apartment in the city.

Of course, the more experienced folks might decide not to move and the execs and those with families likely are going to face long commutes..or go elsewhere.

I lived in Palatine/north and worked in Schaumburg. It was an hour commute to downtown Chicago then and probably worse today..although you could spend $$$ and take the train to downtown which some did.....

I'd hate to live in libertyville and have to commute to downtown. I'd probably hunt for another job.

I'd bet a lot of those jobs were low paying jobs, too........and there are lots of low paid workers in Chicago.


t.
Print the post Back To Top
No. of Recommendations: 3
"The city has been particularly attractive to technology companies that have found that younger workers are less likely to move to the suburbs than previous generations."

The city has lots of apartments and you don't need a car

1/3rd of college grads don't own a car or even have a drivers license.

Plus, a lot of them have a lot of student debt and can't afford a car or their own place to live, so they get a couple roommates and share an apartment in the city.


Tele, I live right here in the middle of the city, in the thick of things -- not out in Palatine or someplace, and I'm here today, not 40 years ago -- I can tell you that what I observe firsthand is somewhat different from what you're telling me.

There are plenty of young college grads here who moved here from elsewhere specifically to take advantage of high-paying jobs available. They live in city apartments because they want to, and simply have no interest in suburbia. And many of them can well afford a car but simply choose not to have one. They don't want the same suburban lifestyle their parents had, they want something more stimulating and exciting. It's a generational thing -- the pendulum is currently shifting away from suburbia and towards urban living.

And employers are increasingly realizing that if they want to attract young talent, they have to go where that young talent lives.

True, there are some who share apartments two or three to a unit in areas like, say, Wrigleyville, because they're in modestly-paying entry-level jobs and that's all they can afford at the moment. But they're only one part of the story.

In downtown Chicago there are new luxury apartment towers with all the amenities where monthly rents on a one-bedroom apartment start at $2,000 and go up from there... and then you look at who lives in the place, and it's mostly all 20-somethings, and you wonder how so many people so young can afford all that... and most of them are not in hock, either.


I'd bet a lot of those jobs were low paying jobs, too........and there are lots of low paid workers in Chicago.

Low-paid workers, or those with a lot of student debt, generally live on the South and West Sides, or in less popular areas well away from the lake... they generally don't live downtown or in the better North Side lakefront neighborhoods, where it actually costs more to live than in most of the suburbs... and yet those pricey areas are predominantly younger people.
Print the post Back To Top
No. of Recommendations: 1
The city has been particularly attractive to technology companies that have found that younger workers are less likely to move to the suburbs than previous generations.

Detroit doesn't have that issue, lol! There was a poll that came out recently (I'll try to hunt down a link for it later, I heard about it on talk radio locally) that found that 40% of Detroiters plan on leaving the city within five years. Whether or not they do (or can) is another issue of course, but when 40% of your population wants to leave... not great.

I don't blame them though. The Detroit Police were handing out fliers before the first Tiger Playoff game basically saying Detroit is a warzone. I kid you not! They are upset that they have to work 12-hour days and their pay was cut (as would anyone be) and their ranks are being decimated. Not sure what their goal is... not like Tiger fans from the suburbs are going to just start handing DPD officers money, but it is what it is.

Oh, and Detroit's dismal finances? Worse than previously thought (and previously they were thought to be a disaster of epic proportions!) The city is working under a consent agreement with the state, but the state isn't happy with the progress (or lack thereof) from the city in terms of meeting their debt obligations.

So Detroit is indeed circling the drain. I have no doubt anyone who can do so and has any desire to is fleeing to Chicago. I've never been a city groupie but they exist... and Detroit has almost nothing to offer them that other cities don't have in spades.

One word of caution: Detroit was once (economically) where Chicago now is. Very bad things can happen in a remarkably short period of time.
Print the post Back To Top
No. of Recommendations: 1
They live in city apartments because they want to, and simply have no interest in suburbia.

andrew61


You mean to tell me that these young people don't to invest their earnings in a depreciating asset just so they can commute 1 to 2 hours a day in traffic logged highways? What's the matter with these young people? <g> They must not want to spend their weekends mowing lawns or raking leaves.

Of course the main problem with urban living is that you are most likely going to be represented by corrupt Democrat politicians, you have to deal with the large populations of dangerous feral yutes and if you have children you have to think about their safety and the lousy public schools.

Mike, who would love to be able to walk to work so he could drive no more than 1000 to 2000 miles a year.
Print the post Back To Top
No. of Recommendations: 0
So Detroit is indeed circling the drain. I have no doubt anyone who can do so and has any desire to is fleeing to Chicago. I've never been a city groupie but they exist... and Detroit has almost nothing to offer them that other cities don't have in spades.

You'd be surprised (or maybe you wouldn't) at how many U of M grads, people who grew up in the greater Detroit area, end up moving to Chicago after college. In the trendier neighborhoods on the North Side, they seem to be here by the thousands. They move here in packs and share apartments with their friends who also moved here at the same time, so they already have a built-in social network here by the time they arrive.

We get lots of young folks moving here from other parts of the Midwest -- Ohio, Wisconsin, Iowa, even from as far away as Nebraska -- but the number of people imported from Michigan trumps them all.

Lots of "Big Ten" grads, and they still follow their own college football teams after they get here, and in neighborhoods like Lincoln Park there are different bars catering to followers of different teams -- if you're U of M, you go to this bar, if you're Ohio State, you go to this other one, etc.


One word of caution: Detroit was once (economically) where Chicago now is. Very bad things can happen in a remarkably short period of time.

Although political and economic policies certainly do play a role in a city's prosperity or decline, there are other factors, too. Detroit was basically a one-industry town, whereas Chicago is far more diversified. And it appears to have successfully shaken off its Rust Belt past to become a major global economic player. I've seen rankings from various organizations that place Chicago anywhere from 6th to 10th in the world in terms of global economic clout, and that position has only strengthened in the past ten years or so. I think that's pretty impressive.

Of course, I do realize that despite the above, all is not well here, but I think overall Chicago will continue to prosper in the foreseeable economic future, as long as its leaders don't make too many really dumb moves. (Of course, Chicago is tethered to the state of Illinois with all its problems, so that could hurt the city in the long run.)
Print the post Back To Top
No. of Recommendations: 0
Lots of "Big Ten" grads, and they still follow their own college football teams after they get here, and in neighborhoods like Lincoln Park there are different bars catering to followers of different teams -- if you're U of M, you go to this bar, if you're Ohio State, you go to this other one, etc.
----------------------------------------------------
I stumbled into a Missouri bar a couple years ago on the pub crawl, my little sister went there. Kinda weird having a bar that cheers for Mizzou in Chicago.

It's been cool for a long time for kids out of college to gravitate to Chicago. My cousin i graduated with at NIU lived in Chicago after college and i spent alot of weekends there in the late 80's/ early 90's. I'm more of a country mouse though, i'm not a hussle & bustle kinda guy.
Print the post Back To Top
No. of Recommendations: 1
Mike, who would love to be able to walk to work so he could drive no more than 1000 to 2000 miles a year.

DW and I recently vacationed on Tybee Island/Savannah, GA. The island was small enough (basically 1 mile wide and 4 miles long) we could easily get around via bicycle. Downtown Savannah wasn't much bigger, or at least for the places we'd want to be.

We've thought about someplace like that to retire to. Walking/biking distance to everything. But no big place like Chicago for sure.

JLC
Print the post Back To Top
No. of Recommendations: 0
I stumbled into a Missouri bar a couple years ago on the pub crawl, my little sister went there. Kinda weird having a bar that cheers for Mizzou in Chicago.

It must be really weird for them this year after moving to the SEC. What were they thinking? They barely competed in the Big 12 so now they want to get their a$$ handed to them on a weekly basis? At least there is Ole Miss and Vanderbilt, maybe they can win those.

JLC, Geaux Tigers. The real ones, not the faux Tigers from up north.
Print the post Back To Top
No. of Recommendations: 0
"DW and I recently vacationed on Tybee Island/Savannah, GA. The island was small enough (basically 1 mile wide and 4 miles long) we could easily get around via bicycle. Downtown Savannah wasn't much bigger, or at least for the places we'd want to be. We've thought about someplace like that to retire to. Walking/biking distance to everything. But no big place like Chicago for sure." - JLC


I've got family in Savannah. My brother's son whom I'm close to. I was actually in Savannah not too long ago. It's a beautiful little town. I really like it. I like the Live Oak trees with the Spanish Moss hanging in them. It looks really old fashioned, like you just stepped back in time. The Old South. I like the harbor and the boats. Hot as hell in the summer but it can't be any hotter than it was here this summer? Savannah has some good eating establishments.

Don't know if you could live there without a car though. Might need one to get to the grocery store?

Art
Print the post Back To Top