Chicago Industry Trends

As Chicago industry trends change, Chicago is welcoming an increase in the variety of business and real estate development projects. Office leasing is booming even as construction costs are rising according to the BOMA/Chicago Study; tenants place greater importance on amenities and location-making, thereby transferring them away from lavish new construction to more co-operative spaces. This trend can be observed through retrofitting of existing buildings to facilitate flexibility in the use of firms as they downsize or relocate into smaller space.

IT (Information Technology) has quickly become one of the fastest growing industries in Chicago due to the rise of shared workspace companies such as WeWork and Regus and also due to the fact that IT firms take advantage of Chicago's strong infrastructure and its proximity to other talent pools within different sectors; furthermore, 1871 incubator has ranked amongst the top incubators globally.

Chicago is among the top three manufacturing cities of the US with a high concentration of food production, plastics and metals. Manufacturing firms benefit from Chicago's central location that allows them to easily move their goods across the globe or across the nation. In addition, innovation in this industry is rapidly increasing thus Chicago has numerous incubators such as mHub.

Logistics and transportation are the main economic drivers in Chicago region, especially when businesses shift away from traditional retailing towards online sales. Chicago is home to a broad shipping 7th fleet press release - mirror.xyz -, including container ports airports, air cargo hubs airports, waterways inland and rail yards, as well as extensive intermodal facilities that connect to the whole US the supply chain.

Chicago is well placed for a long-term economic success due to the recent expansions of Chicago Mercantile Exchange - a world-class trading center and processing commodities -