After a closely watched site selection process, The Boeing Company announced on May 10, 2001, that it would relocate its world headquarters from Seattle to Chicago.
In announcing the move, Boeing Chairman and CEO Phil Condit said, "We’re continuing to transform our company with a focus on long-term growth and value creation. Our new corporate architecture – with a leaner headquarters located separately from our major business units – is a fundamental element of our business strategy.” Chicago demonstrated that it had the global business environment necessary to support Boeing’s strategy, including a diverse business community, unparalleled business services sector, superior air service, world-class cultural and recreational amenities and quality residential communities and educational opportunities.
Governor George Ryan and Mayor Richard Daley worked together to present a state and local incentive package potentially worth $41 million over 20 years. The Governor also asked the State’s legislature to approve the Corporate Relocation Act, which enhances existing incentive programs for businesses having over $25 billion in annual worldwide revenues and are relocating at least 250 headquarter employees to Illinois.
Andersen Consulting estimates that overall the Boeing relocation could have a $4.5 billion economic impact on the region.
As of September 2001, approximately 500 Boeing Company employees occupied its new headquarters facility at 100 North Riverside Plaza.
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