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| August 2007 :: Volume 34 |
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Chicago by the Numbers ![]() Read More |
McCormick Place West Welcomes the World McCormick Place West, the newest addition to North America's largest convention center, officially opened its doors on August 2nd, eight months ahead of schedule and on budget. The festive Grand Opening celebration was joined by Mayor Richard M. Daley, local and state elected officials along with Metropolitan Pier and Exposition Authority (MPEA) staff... Read More |
| August CEO Spotlight: Joanne C. Smith, M.D. World Business Chicago continues to interview business leaders to find out what they love about Chicago and what improvements can be made for businesses. This month's spotlight is on Joanne C. Smith, M.D., President and CEO of The Rehabilitation Institute of Chicago. Read More |
WBC Goes Inside Lollapalooza 2007 In its third year as a destination festival, Lollapalooza bestowed a musical experience unlike any other to the city of Chicago. For three days, Grant Park was transformed into a celebration of music, food, arts, technology, and community, where fans gathered from around the world to catch one of the summer's most powerful line-ups. Dan Lyne, Technology Director at World Business Chicago, reports on his journey through 3 days, 8 stages and 130 bands. Read More |
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McCormick Place West Welcomes the World
McCormick Place West, the newest addition to North America's largest convention center, officially opened its doors on August 2nd, eight months ahead of schedule and on budget. The festive Grand Opening celebration was joined by Mayor Richard M. Daley, local and state elected officials along with Metropolitan Pier and Exposition Authority (MPEA) staff, Chicago Convention and Tourism Bureau (CCTB) staff, the Mc4West design and build team, architects, as well as tourism, labor, business, community and civic leaders. A unique ribbon-cutting ceremony included a special performance by Cirque Shanghai, the world-renowned Chinese acrobatic troupe. McCormick Place West was designed to meet the changing needs of customers well into the future. The building's features have greater flexibility and functionality, enabling McCormick Place to host more simultaneous and back-to-back shows. Much of the West Building's focus will concentrate on securing small-to-mid range association, corporate and medical meetings. Ultimately, McCormick Place officials intend to solidify the convention center's growing reputation as the nation's "medical meeting headquarters." More than 75 events are already booked at the West Building. One-third of those shows are new business and another one-third recovered businessshows that haven't been to Chicago in five years or more. The new building is expected to generate approximately 25,000 new jobs regionally and an additional $1.3 billion in local spending to the city and state, including booking of 250,000 to 300,000 additional hotel room nightsa 25 percent increase over what McCormick Place generates today. Overall, the MPEA estimates direct expenditures to the city and the state total more than $4 billion annually. The $882-million, publicly-financed West Building adds another 470,000 square feet of exhibit space to McCormick Place's existing 2.2 million square feet. It also adds 250,000 square feet of meeting space, which includes 61 meeting rooms and a ballroom the size of a football field at 100,000 square feet, making it one of the largest ballrooms in the world. McCormick Place West also boasts a distinctive Rooftop Garden, offering stunning views of the city and ideal for evening receptions. In addition to the green roof, the building is already LEED certified and features include high-efficiency heating and cooling systems, reduced water consumption and recycled building materials. The building also houses an impressive collection of 50 commissioned works of art, designed by 30 Chicago and Illinois artists. Some of the building's other unique features include: For more information visit www.mccormick2008.com or contact Megan Risch at 312.567.8540. PAGE UP |
WBC Goes Inside Lollapalooza 2007
In its third year as a destination festival, Lollapalooza bestowed a musical experience unlike any other to the city of Chicago. For three days, Grant Park was transformed into a celebration of music, food, arts, technology, and community, where fans gathered from around the world to catch one of the summer's most powerful line-ups. Dan Lyne, Technology Director at World Business Chicago, reports on his journey through 3 days, 8 stages and 130 bands.
Day 1: Under the Tuscan Sun
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Chicago by the Numbers
Footnotes The new Chicago MSA (metropolitan statistical area) consists of a fourteen-county, tri-state region: Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry, and Will counties in Illinois; Jasper, Lake, Newton and Porter counties in Indiana; and Kenosha County in Wisconsin. The office absorption and availability rate are 2006 & 2007 second quarter numbers for the downtown Chicago market. Data is from CB Richard Ellis. Net Absorption is the change in available space in square feet. Availability rate is space that is currently vacant or in the process of being marketed. Consumer confidence, automobile and truck sales are U.S. numbers. The Chicago Midwest Manufacturing Index is a monthly estimate of manufacturing output in the 7th Federal Reserve district (Illinois, Indiana, Iowa, Michigan, and Wisconsin). It is a composite index of sixteen manufacturing industries that use electrical power and hours worked data to measure monthly changes in regional activity. The employment, housing, and net absorption numbers are listed in thousandths. PAGE UP |
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