Why
Chicago?
Our Story
A Deeper
Look
Industry Sectors
Comparing Chicago
Data & Statistics
Changing Seasons
Real Estate
Success Stories
Site Location Tutorial
Business
Resources
Business
Req.
Partners & Contacts
Foreign Resources
Financial Incentives
|
 |
Chicago
by the Numbers |
 |
Chicago's Innovators Honored |
| |

|
|
Each
year, the Chicago Innovation Awards honor organizations that
have introduced products or services that uniquely fill unmet
needs, generate a competitive response in the marketplace, exceed
market expectations and achieve financial success. Ten Chicago
area organizations are winners this year for innovations ranging
from breast cancer detection to community rejuvenation.
|
 |
Nano: Establishing Leadership in Global Innovation |
 |
City of Chicago Focuses on Fashion |
| |
Chicago
and the Midwest in general have long been considered "fly over"
country when it comes to technology by most of the world. That's
actually quite ironic given that many of the innovations and
innovators that powered previous technology waves hailed from
Illinois.
|
|
Chicago
is stepping up to the plate as a fashion leader as witnessed
during last month's Fashion Focus Chicago 2005, the City of
Chicago's first-ever fashion festival. The City of Chicago turned
the Loop into a fashion mecca for eleven days in September,
drawing independent and student design talent from around the
city.
|
 
Chicago's Innovators Honored
Each year, the Chicago Innovation Awards honor organizations that have introduced products or services that uniquely fill unmet needs, generate a competitive response in the marketplace, exceed market expectations and achieve financial success. Ten Chicago area organizations are winners this year for innovations ranging from breast cancer detection to community rejuvenation.
"Chicago area companies and organizations have produced countless innovations during the past 150 years. The Chicago Innovation Awards help create awareness of today's local innovations that are changing the world," said Thomas Kuczmarski, president of Kuczmarski Associates, the consulting firm that created the awards along with the Chicago Sun Times.
Building on Chicago's long heritage of innovation, this year's award winners offered successful new products and approaches across a wide spectrum of commerce and community service:
Abbott Laboratories PathVysion is a new test for breast cancer that allows physicians to use genetic information to predict the effectiveness of various treatment regimes. PathVysion is the only FDA-approved genetic test of its kind in this category. Abbott is based in north suburban Abbott Park.
The City of Chicago, with the support of the Chicago business and philanthropic communities, created Millennium Park as Chicago's newest addition to its extensive lake front park system. Formally opened with a grand celebration on July 16, 2004, this 24.5 acre park at the northwest corner of Grant Park, has transformed a former rail yard, a parking lot and under-utilized park land into an outdoor cultural venue. It is a place for Chicagoans and tourists to enjoy gardens, ice skating, outdoor and indoor concerts, restaurants, festivals and fairs, fountains and water features, and interactive public art.
Intellext, Inc., of Chicago, created Watson as a search-companion to desktop PC applications. This new approach to search software is based on tracking a PC user's work and delivering information as needed to complement and augment the work-in-progress.
Laminar Technologies, of Chicago, proves with its TurboTap that even beer-pouring can be the object of innovation. TurboTap employs advanced fluid technology to quadruple the speed of drawing beer from a tap, while efficiently emptying up to 97 percent of a beer keg, compared with only 85 percent by traditional tap systems. The combination of speed and efficiency is serving up bigger profits for taverns and restaurants using the system.
Motorola's
RAZR V3 cell phone represents a major design and engineering
advance, combining new benchmarks for thinness and comprehensive
user features. The RAZR re-established Motorola, of Schaumburg,
on the cutting-edge of mobile phone innovation, a position
that its subsequent new product introductions continue to
fulfill.
New Communities Program is an alliance of government, private sector and non-profit organizations that have joined forces to rejuvenate Chicago's most challenged communities, provide needed services to residents, and preserve those communities' diverse heritages and architectures in the face of gentrification. The program has provided job training and placement, created community centers, and fostered commercial projects that have invested more than 30 times the costs of the programs back into the communities.
Novarra, of Itasca, created its nWeb browser for US Cellular mobile phones, delivering full Internet functionality and Web site formatting and interactivity to cell phone users. It is the first technology to render all Web pages viewable on a mobile phone interface.
Solvent Systems International, of Elk Grove Village, redefined parts-cleaning systems with its Grease Gator Aqueous Parts Washer. In contrast to older systems that required professional operators, extensive cleaning and the disposal of hazardous wastes, the Grease Gator is simple to operate and produces no hazardous materials. It's the first system in which the oil used for cleaning parts is still usable afterwards, even as fuel.
USG Corporation, of Chicago, developed its DUROCK Tile Membrane for the flooring industry to protect moisture-sensitive materials such as plywood, tile and stone from water damage. DUROCK forms a vapor-permeable bond between the subfloor and the flooring material, allowing dampness to dry out and protecting against the formation of mold and mildew. DUROCK is projected to capture 10 percent of its competitive market within two to four years.
Vibes Media, of Chicago, connects radio listeners with radio stations through its iRadio Text Messaging Platform. iRadio enables listeners to respond directly to broadcast promotions, contests, talk topics or events inexpensively and without the limitations of voice telephone response systems. A recent on-air promotion by a Chicago FM radio station resulted in the exchange of more than 40,000 text messages between the station and 6,000 of its listeners.
"Innovation is the strategic foundation for many successful enterprises," said Sun-Times Business Editor Dan Miller. "Instead of simply cutting costs to meet their profit goals, these companies are growing and ensuring their future success by driving innovation to fulfill their customers' needs or create profitable new markets."
Winners in the program were selected from more than 130 nominees with national or divisional headquarters in northern Illinois, northwestern Indiana, southeastern Wisconsin or southwestern Michigan. Entries were judged based on the success of products and services introduced between January 2003 and June 2005 that uniquely satisfied unmet needs in the marketplace.
For
more information about the Chicago Innovation Awards, please
click here.
|
 
Nano: Establishing Leadership in Global Innovation
Chicago and the Midwest in general have long been considered "fly over" country when it comes to technology by most of the world. That's actually quite ironic given that many of the innovations and innovators that powered previous technology waves hailed from Illinois. Think Marc Andreeson (Netscape), Tom Siebel (Siebel Systems), and George Rathmann (Amgen) to name a few. But, because our local business community was unable (or unwilling) to support them, they helped fuel the growth and development of Silicon Valley and other tech clusters throughout the country.
Fortunately, Illinois has another chance. Today, thanks to the outstanding work being done at our universities and a handful of high-potential startups that have toughed out the business climate and stayed in Illinois, our state is ranked as one of the top few regions in another emerging technology wavenanotechnology. Nanotechnology isn't just one revolutionary product but rather a whole new way of looking at the world and how we build things. Its impact is already tens of billions of dollars and the National Science Foundation expects that it will reach a trillion dollars within 10 years. If we want to be at the forefront, it isn't enough for us to hope and yearn to be a leader, we must instead expect to be a leader and start acting like one. This means having the courage to invest in ourselves and take some risks, as a state, as citizen businesses and as capable individuals, on this frontier.
Having
the perspective of the NanoBusiness Alliance, the national
advocacy organization for nanotech, and being the first tenants
of recently opened Illinois Science and Technology Park gives
us a unique perspective on Illinois' position in the nanotech
race. Around us we see premium wet lab research space for
high-growth, cutting edge bio and nano companies and a facility
large and feature-rich enough to become the home of the "Intel"
of the nanotech world. In our backyard are four powerhouse
educational institutions that have developed deep and broad
nanoscience capability that truly rivals any in the world.
The nanotech centers of excellence at NU, Argonne, University
of Chicago and the University of Illinois are too numerous
to list here, but their distinctiveness is evidenced by the
fact that they are spinning out companies at a historically
unprecedented pace: Northwestern (Applied Thin Films, NanoInk,
Nanosphere, Nanotope, Ohmx, Questek), Argonne (Nanophase,
Advanced Diamond Technologies), UIUC (NanoDisc, Renew Power,
NanoSi, SiTech) and the University of Chicago (Arryx).
So,
you may be asking, how does this matter to me or my business?
Let me offer a few examples of how nanotech is creating value
for incumbent businesses. Wilson Sporting Goods (of Chicago
heritage) has been a leader at integrating start-up nanomaterials
into their products. The Wilson nCode tennis racquet is powered
by nanocomposites, providing twice the strength and stiffness
and up to 22% more power than other racquets. Its launch has
been so successful that Wilson has struggled to keep up with
demand and has increased operating margins in the racquet
sports division by more the 3%. Wilson also has launched nanotech
tennis balls that maintain their pressure over longer periods
(over 4 times as long) and sells them at a 30% premium to
traditional tennis balls. Wilson is now leveraging nanotechnology
for its new Staff line and its golf balls, as well.
I am sure many of you have either seen or bought Nano-Tex apparel that resists spills and releases stains. Nano-Tex's performance textiles sell at roughly a 30% premium to traditional textiles and are gaining shelf space and market share. While these may seem like "low tech" or mundane applications, they highlight the opportunity to use nanotechnology to deliver dramatic performance improvements in today's products. And, they are a very small subset of the applications already making their way to market.
Illinois once again has a chance to show that it can lead a wave of innovation rather than simply follow California or Massachusetts. As businesses and citizens of Illinois, we face a choiceeither we act on this opportunity today or we sit back and watch our innovations fuel competitors from around the country and around the globe. I believe that the path nanotech follows will be driven primarily by the extent to which existing Illinois businesses get engaged and begin to access and integrate nanotech innovations into their own businesses. It will require that companies in Illinois come to the realization that lack of innovation is far more costly than failed attempts at innovation - to quote the AIG commercialthe greatest risk in life is not taking one.
To
that end, I hope many of you will choose to attend the NanoCommerce/SEMI
NanoForum 2005 conference and trade show, if even for a day.
It is the largest business oriented conference on nanotech
in the country and it is taking place at McCormick Place in
Chicago from November 1-3. Companies from around the world
that run the gamut from high powered startups to Fortune 100
juggernauts will be coming to Chicago to share ideas, form
partnerships and drive forward what promises to be a massive
technological revolution. Simply put, this is the least costly
yet most efficient and effective way for businesses in the
Chicago area to rapidly come up to speed on nanotechnology.
Better yet, you'll have an opportunity to find the partners
with the capabilities to transform the potential of nanotech
innovations into reality for your specific businesses.
--Sean Murdock, Executive Director
NanoBusiness Alliance
For more information on the NanoCommerce/SEMI NanoForum 2005 conference and trade show, please click here.
|
 
City of Chicago Focuses on Fashion
Chicago is stepping up to the plate as a fashion leader as witnessed during last month's Fashion Focus Chicago 2005, the City of Chicago's first-ever fashion festival.
The City of Chicago turned the Loop into a fashion mecca for eleven days in September, drawing independent and student design talent from around the city. The Mayor's Office of Special Events partnered with various local design schools, agencies and organizations to promote and celebrate Chicago's innovative fashion industry. Over 100 independent and student designers participated in events throughout Chicago's Loop, from informational seminars to high-energy fashion shows and shopping parties.
The
City's event, presented by the IN:CHICAGOsm Card from American
Express, which was launched during Fashion Focus Chicago,
and the W Chicago City Center, targeted a young, hip demographic.
Yet the festival as a whole appealed to a broad market with
a diverse set of partners, including Marshall Field's, Gen
Art, the Apparel Industry Board, the Chicagoland Entrepreneurial
Center, the Chicago Fashion Foundation, the Chicago Loop Alliance,
Columbia College Chicago, The Illinois Institute of Art-Chicago,
the International Academy of Design and Technology and the
School of the Art Institute of Chicago.
The
success of the festival was evident in depth and variety of
fashion related programs, including seminars, fashion shows,
and shopping parties. Highlights included Gen Art's Shop CHICago
and Fresh Faces in Fashion 2005, featuring local designers.
"Street Beat" Fashion Show on State, which highlighted the
future of Chicago's fashion industry, was a hit as student
designers took over State Street during the lunch time rush.
Marshall Field's Chicago Designer Shop gave fashionistas young
and old the opportunity to buy designs directly from local
independent designers. One hundred percent of the proceeds
went to the designers.
Many
hope that Fashion Focus will prove to be the needed first
step in increasing attention to Chicago's fashion industry
and its design talent. As Mayor Richard M. Daley asserted:
"It is important to nurture this industry in our city, from
the student to the established designer, and that is why Fashion
Focus Chicago 2005 will shine the spotlight on this facet
of Chicago's vast creative industry."
Mayor Daley emphasized the importance of attracting and retaining design talent in Chicago. "There is great pride in celebrating the many talented designers that have established their lives here," he said. These local designers, many of whom participated in the festival, have remained in Chicago despite the lack of exposure that designers enjoy in New York or Los Angeles.
Just ask hometown designer Lara Miller, who "honestly can't imagine ever leaving Chicago."
According to Miller, who has found "a great contractor, wonderful knitters, and a seamstress" here in the city, "resources are getting better by the day." She also lauds the "amazingly supportive boutiques such as P.45 and Ami Ami."
Like
many other designers, though, one of the most important factors
keeping her in Chicago is the spirit of the city. "The entire
city (those in the industry, the government, and its shoppers),"
Miller said, "has been so supportive and enthusiastic about
keeping fashion in Chicago, not to mention the availability
of work space, lower rents, and the amazing inspiration from
other culture based events, activities, and centers here...
like I said, Chicago is the best city in the world!"
While Fashion Focus highlighted resources already available to Chicago designers, it has also generated a push for change in the industry. Local designers had a chance to meet with the Mayor and members of his senior staff during Fashion Focus, providing the opportunity to have their needs addressed. The Chicagoland Entrepreneurial Center has also taken on part of the challenge by forming an advisory group made up of established local designers and other players in Chicago's fashion industry.
The push for change in the industry has not diluted the enthusiasm for making next year's event bigger and better. The city is already planning for Fashion Focus Chicago 2006, with hopes for more high-profile fashion shows, a greater variety of seminars, and expansion out of the Loop and into the city's many shopping areas.
--Carrie Baizer Mayor's Office of Special Events
The Mayor's Office of Special Events (MOSE) provides Chicagoans and visitors with twelve months-a-year of family style entertainment, by producing and promoting free festivals and city-wide holiday celebrations.
For more information please visit the Mayor's Office of Special Events.

Chicago
by the Numbers
| Indicator
- CBSA |
August-05 |
July-05 |
June-05 |
|
| Total Employment |
4,478.5 |
4,474.5 |
4,493.9 |
4,443.6 |
| Total
Private Sector |
3,937.6 |
3,927.2 |
3,929.8 |
3,898.4 |
Construction |
225.5 |
224.0 |
221.2 |
223.5 |
Manufacturing |
497.7 |
496.0 |
499.2 |
502.7 |
Transportation
& Utilities |
201.1 |
200.9 |
201.3 |
198.4 |
Wholesale
Trade |
244.5 |
244.8 |
244.8 |
244.1 |
| Retail
Trade |
467.4 |
465.7 |
469.1 |
465.0 |
Information |
92.4 |
92.6 |
92.5 |
94.6 |
Financial
Activities |
330.3 |
329.5 |
329.3 |
328.0 |
| Prof.&
Business Services |
719.7 |
714.5 |
712.7 |
692.6 |
Education
& Health Services |
544.1 |
543.9 |
548.5 |
540.2 |
| Leisure
& Hospitality |
411.1 |
410.3 |
410.0 |
403.6 |
| Other Services
|
201.4 |
202.4 |
198.2 |
202.7 |
Government |
540.9 |
547.3 |
564.1 |
545.1 |
Mining |
2.4 |
2.6 |
3.0 |
2.5 |
| Unemployment Rate |
5.8 |
6.4 |
6.6 |
6.2 |
| Midwest Housing Starts |
347.0 |
379.0 |
361.0 |
349.0 |
| Office Availability
Rate |
15.5 |
- |
- |
14.1 |
| Office Net Absorption |
203,961.0 |
- |
- |
-695,566.0 |
| Producer's Price Index |
156.0 |
155.1 |
153.5 |
148.5 |
| Consumer Price Index -U |
196.4 |
195.4 |
194.5 |
189.5 |
| Consumer Confidence |
105.5 |
103.6 |
106.2 |
98.7 |
| National Purchasing |
|
|
|
|
Managers
Index |
53.6 |
56.6 |
53.8 |
59.0 |
| Chicago Purchasing |
|
|
|
|
Managers
Index |
49.2 |
63.5 |
53.6 |
56.8 |
| Chicago Midwest |
|
|
|
|
| Manufacturing
Index |
111.1 |
110.8 |
110.5 |
117.2 |
| New Automobile Sales |
5.6 |
5.7 |
5.1 |
5.5 |
| New Truck Sales |
7.8 |
11.3 |
8.9 |
8.4 |
Footnotes
The new MSA (metropolitan statistical area) consists of the
fourteen-county Chicago 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 2004 & 2005 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.
|
|
| World
Business Chicago
177
N. State Street, Suite 500
Chicago, Illinois 60601
To
be removed from list click
here.To
be added to list clickhere. |

|