WBC

October 2009 :: Volume 60

Top 10 Most Innovative New Products and Services in Chicago Region Honored at Chicago Innovation Awards Ceremony Read More

Chicago Welcomes Abu Dhabi Delegates as Result of Recent Business Trip to UAE A delegation of business and government leaders from Abu Dhabi visited Chicago in October, as a direct result of a recent Chicago business delegation’s trip to the United Arab Emirates, led by Mayor Daley, along with WBC president, Rita Athas. Read More

International Study Ranks Chicago as a Top Location for Foreign Investment; Chicago Only U.S. City to Make List Chicago is the sole U.S. city to achieve the status of top international city for foreign investment in 2008, in a study released at October’s International Economic Development Conference in Reno, Nevada. Read More

Chicago Keeps Growing WBC tracks companies that have located or expanded in Chicago. Economic Focus’ Chicago Keeps Growing column continues to prove that despite tough economic circumstances, companies are thriving and growing in Chicago. Read More

Chicago Welcomes Abu Dhabi Delegates as Result of Recent Business Trip to UAE A delegation of business and government leaders from Abu Dhabi visited Chicago in October, as a direct result of a recent Chicago business delegation’s trip to the U.A.E. (United Arab Emirates), led by Mayor Daley, along with WBC president, Rita Athas. Last February’s U.A.E. visit aimed to increase Chicago’s international visibility as a global business destination; the group shared best practices in innovation, education, collaboration and environment. This month, Abu Dhabi leaders who took part in the overseas meetings came to the U.S. to continue the discussions and experience first-hand why Chicago is a premier location for international business and investment. “We traveled to the UAE last winter in order to establish a strong partnership with business and government leaders in Abu Dhabi and Dubai, and foster direct investment in Chicago,” said Rita Athas, president of World Business Chicago. “We are pleased that leaders from Abu Dhabi are now visiting Chicago as a result of our trip, and we look forward to continued economic growth between our cities.” Delegation members including HE Khalifa Al Mazrouei, chairman, Abu Dhabi Airports Company, HE Hamad Al Mass, executive director, international economic relations, Abu Dhabi Department of Economic Development, Mr. Ali Al Naqbi, chairman, Middle East Business Aviation and Mr. Mohammed Al Shorafa, senior executive vice chairman, United Eastern Group took part in a round-table discussion with Chicago business leaders. The discussion detailed Chicago and Abu Dhabi’s positions as global cities, a strategic economic “path to recovery,” the role of airports and tourism, and how Chicago and Abu Dhabi can utilize their ties to strengthen their economies. Chicago-based participants, some of whom were a part of the initial UAE visit,  included Jim Tyree, chairman, Mesirow Financial, Howard Tullman, president and CEO, Flashpoint Academy Tom Murphy, general counsel, Shelbourne Development, George Efstathiou, managing partner, Skidmore Owings and Merrill, and Matrin Wolf, FAIA, principal, Solomon Cordwell Buenz. The group pledged to continue to connect in efforts to stimulate economic growth. During the UAE visit, the Boeing Company and U.S.-U.A.E. Business Council also hosted a luncheon and discussion at Boeing’s corporate offices in honor of James Hogan, CEO of Ethiad Airways.  Mr. Hogan was accompanied by the U.A.E. Ambassador to the United States and Mexico, His Excellency Yousef Al Otaiba, who told United Press International (UPI) that Chicago is a “major global city who plays a role in global economic decisions.” A delegation of senior Abu Dhabi business executives and policy makers attended the Boeing session, along with executives from Chicago area companies including Exelon Corp, Electro-Motive Diesel, The Gettys Group, Hyatt Hotels, DLA Piper, and Grosvenor Capital Management.  Led by Jim Albaugh, CEO, Boeing Commercial Airplanes, the session focused on promoting trade between the U.A.E and the Midwest U.S. Members of the delegation also toured the Chicago Board of Trade and met with officials at Northwestern University’s Kellogg School of Business, where the Ambassador spoke to business students. In addition, the Chicago Department of Aviation (CDA) and Abu Dhabi Airports Company (ADAC) signed a Memorandum of Understanding (MOU) establishing O’Hare International and Abu Dhabi International Airports as “sister airports.” The agreement outlines a process for the airports to share technical, commercial and environmental best practices, and set up joint working groups to work cooperatively on a wide range of areas. “On behalf of Mayor Richard M. Daley, we are honored and proud to establish this new partnership with Abu Dhabi International Airport,” said Commissioner Rosemarie S. Andolino of the CDA. “The Cities of Chicago and Abu Dhabi have many similarities, including a vision for urban and economic growth with a focus on sustainability. We look forward to a long-term and mutually beneficial relationship between our airports.” The group marked the introduction of the first-ever nonstop air service between Abu Dhabi and Chicago by Etihad Airways, the national airline of the UAE. “The launch of Etihad Airways flight service between Abu Dhabi and Chicago offers great opportunities for our cities to work together, sharing our cultures and our experiences in many different sectors,” said HE Al Mazrouei. “Our vision is for Abu Dhabi to have one of the world’s leading airports and we have been investing in developing our infrastructure and our skills to the highest levels. This partnership brings us together with a truly world-class partner and we are looking forward to developing the many opportunities it represents.”                                                                                                                                                                 PAGE UP

International Study Ranks Chicago as a Top Location for Foreign Investment; Chicago Only U.S. City to Make List Chicago is the sole U.S. city to achieve the status of top international city for foreign investment in 2008, in a study released at October’s International Economic Development Conference in Reno, Nevada. The Annual Global Location Trends report, is based on IBM’s proprietary Global Investment Locations Database (GILD), which records investment project announcements around the world to analyze global trends in corporate location decision making. With the growing role of cities in the global economy, this was the first year that IBM included cities in the study, noting, “Cities, themselves virtually complete economies in some instances, are increasingly becoming the focal points of global economic activity, and analysis of their performance offers a more granular picture of trends at the country level.” Calculated by the number of foreign investment projects generating at least 10 new jobs, cities topping the list included London, Singapore and Paris.  Chicago was the only U.S. city with a top ranking. “The Global Location Trends report validates that Chicago is truly a top global business destination,” said Rita Athas, president of World Business Chicago. “Despite the slow economy in 2008, Chicago continued to attract investment due to factors including the city’s diverse economy and access to international markets.” The GILD database is maintained by IBM-Plant Location International (IBM-PLI), a specialized service within IBM Global Business Services that provides advice to global companies on their location strategies, covering all sectors and types of business functions. The results of 2009’s Global Location Trends were presented at IEDC’s 2009 Annual Conference in Reno, Nevada.  Download the full report at www.worldbusinesschicago.com or www.ibm.com/gbs/pli.                                                                                                                                                                 PAGE UP

Chicago Keeps Growing One year after opening its North American headquarters in downtown Chicago, customer service software company, Sword Ciboodle, is seeking to quadruple its local workforce by hiring more than 60 new employees. The company, which expanded into the U.S. in August 2008 and has continued to secure new business across the globe, is looking to hire Chicago-based software engineers, business analysts, project managers and program managers. Sword Ciboodle is an example of a company that continues to grow and thrive in Chicago despite tough economic circumstances; this month’s Chicago Growing highlights many more that have recently announced plans to locate or expand in Chicago: Consumer Health Advisers, Inc. (CHA), an in-home medical electronics company, completed a Series A venture capital round of $1.15 million and opened a new office in Chicago at the University Technology Park at IIT. Emtec, Inc., an information technology systems integrator, announced the expansion of its Chicago office due to significant growth in its Global Services division. Felix Global Corp., a human capital management firm based in Toronto, opened its first Chicago office. Greenlight Initiative (GLI), a U.S. headquartered LED-lighting sales and solutions provider, opened a regional office in Chicago. Kristine Fallon Associates Inc., a Chicago design and construction IT consulting firm, was selected by the federal government to create three-dimensional “virtual building” computer models to improve courthouses, border stations and other government facilities, creating roughly 60 jobs in Chicago. Lathrop & Gage LLP, a Missouri-based corporate law firm, opened a Chicago office at 30 S. Wacker Drive in the Chicago Mercantile Exchange Building with "aggressive recruiting plans" and a marketing strategy that stresses lower billing rates. McDonald Hopkins LLC is doubling the size of its Chicago law office with plans to move to a 25,000-square-foot space on the 21st floor of 300 N. LaSalle St. Mitchell & Titus LLP, a New York-based accounting firm, expanded its space by about two-thirds as part of a move to a 10,000-square-foot space at 333 W. Wacker Drive to “expand their staff and service offering.” National Surgical Centers signed a long-term lease to move its headquarters to 10,142 square feet at 250 S. Wacker Drive, allowing the organization to accommodate additional employees. Patina Solutions, a professional services firm headquartered in Milwaukee, opened a Chicago office in the Willis Tower. PC Mall, Inc., a California-based computer reseller, is subleasing more than 28,000 square feet at 111 N. Canal St. Its 40-employee suburban office will move downtown, combining with expanded local sales teams. Pickard Chilton opened 300 North LaSalle, a new mixed-used tower on the North Bank of the Chicago River, which has achieved LEED CS Gold.   Primus Telecommunications Group, Incorporated, a global facilities-based communications company, announced the opening of its Midwest regional office in Chicago. Rackspace Hosting, a world-leader in server hosting, announced plans to begin operating a new 36,700-square-foot data center facility in the Chicago area. The Rand Group LLC (TRG), a business technology consulting firm, announced the expansion of its Chicago office. The Regus Group, a global flexible workplace solutions company, is continuing its rapid expansion in the Chicago metropolitan area with the opening of its newest 25,000-square-foot center at 321 N. Clark Street. RoundKeep Capital Advisors, a new Chicago-based hedge fund, was recently launched by a former Citadel Investment Group senior manager, along with three other former Citadel employees. Seven D Construction Co., a Chicago road builder, is expanding as part of a move to a 2.8-acre property at 2000 W. 43rd St. in the Stockyards Industrial Park. Smashburger, a US restaurant chain, has signed an agreement with Chicago caterer Food For Thought enterprises to operate 11 restaurants in the Chicago area. The University of Phoenix is increasing its space at 203 N. LaSalle St. by almost two-thirds,  renewing its long-term lease for 44,000 square feet, up from 27,000. Xchanging plc, a global business processor, opened its new U.S. headquarters in Chicago, employing 130 people at its offices at 8755 West Higgins Road.   Zipcar, the world's largest car sharing service, announced the expansion of its local fleet to more than 400 vehicles in 140 locations throughout Chicago.                                                                                                                                                                 PAGE UP

Top 10 Most Innovative New Products and Services in Chicago Region Honored at Chicago Innovation Awards Ceremony The ten most innovative new products and services brought to market or to public service in the Chicago region over the course of the past year were honored at the 8th annual Chicago Innovation Awards ceremony held at the Goodman Theatre on Tuesday, October 20. World Business Chicago (WBC) Chairman, Mayor Richard M. Daley, welcomed the packed house with a “call to action,” emphasizing Chicago’s rich history of innovation leadership and our global obligation to continue to push our minds. The Mayor’s passionate comments drove home the point that our ability to create innovative products and services will be the driving factor in moving the economy forward. An exclamation to that point came as former Innovation Award Winner Dan Brown, of Chicago-based LoggerHead Tools, presented the Mayor with the Bionic Hydrant Wrench, named one of the “10 Most Brilliant Products of 2009” by Popular Mechanics. The origins of this product idea could be directly traced back to an annual innovation discussion held with previous winners in the Mayor’s office. “The purpose of the Chicago Innovation Awards is to shine a bright light on the creative spirit of the Chicago region,” said Thomas D. Kuczmarski of the innovation firm Kuczmarski & Associates, founder of the awards with the prominent local journalist and foundation executive, Dan Miller. “One of the most important lessons of the awards is how many organizations of all sizes are engaged in innovation, bringing a strong and steady stream of new products and services to market or to public service each year.” There were more than 250 nominations for the Chicago Innovation Awards this year, with more than 800 people attending the full-house event at Chicago’s Goodman Theatre. The keynote speaker for the evening was Leo Melamed, the founder of financial futures and Chairman Emeritus of the CME Group, Inc. The ten winners of the 2009 Chicago Innovation Awards are: Aircell for Gogo Inflight Internet Service—Bringing Internet service to passengers on commercial airline flights. comScore, Inc. for ComScore Ad Effx Suite—Showing the value of online advertising by quantifying an online campaign’s impact on sales. Groupon, for collective buying power—Bringing a new approach to group buying strategies on the Internet. EveryBlock, for local news feeds—Keeping people informed about the news right down to the block on which they live. Rescue Vac Systems, Inc. for the Rescue Vac 800 Series Rescue Kit—Giving rescue workers a swift system for saving people involved in trench collapse accidents. Suncast Corporation, for the No Crank Water Powered Hose Reel—Providing homeowners a swift water-powered system for reeling up a garden hose. The Art Institute of Chicago, for its new Modern Wing—Offering museum visitors a one-of-a-kind space for the viewing of modern art. The Robotic Surgery Program of the University of Illinois at Chicago—Expanding the ways in which robotic surgery is brought to bear in precise surgery with more rapid recovery. Tripp Lite, for its ECO Series Uninterruptable Power Supply System—Reducing the environmental impact of a home’s electrical system. Visible Vote—Providing citizens expanded access to their elected officials. The First People’s Choice Award of the Chicago Innovation Awards The global health care company Abbott was named winner of the first People’s Choice Award of the Chicago Innovation Awards, winning an open vote on the Internet that attracted more than 11,000 ballots. The Nutrition Division of Abbott was recognized for its innovation -- a new way of packaging Abbott’s well-known Similac baby formula to make formula preparation easier. The InnovationVisionary Award Chicago firefighter Lt. Michael Wielgat was named winner of the 2009 Innovation Visionary Award for his invention and development of the HERO Pipe, a system that is seen as having great potential for fighting fires in high rise buildings. The system has shown impressive capacity to rapidly knock down fires on floors that cannot be reached by ladders. The Young Innovator Award Matthew Morris and Michael McCoy, recent graduates of the Liautaud Graduate School of Business at UIC were awarded the 2009 Young Innovator Award for development of Heartsounds, a business that is developing sound separation technology developed at UIC to build highly sensitive and precise cardiac monitoring systems that can detect ailments of the heart. The device is on the verge of FDA approval. WBC has been involved with the Chicago Innovation Awards since its inception. The ceremony is the culmination of a process that begins each spring with a call for nominations. All nominees are honored for their commitment to innovation, and receive a day-long executive education program at the Kellogg School.                                                                                                                                                                 PAGE UP

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