With the final segment of the new I-294/I-57 Interchange poised to open this weekend, the economic benefits of this vital regional interchange has already helped steer millions of square feet of new commercial development to the Chicago Southland communities around it, which in turn have generated thousands of new jobs in the region.
Growth in Red-hot Local Warehousing Market
Growth in Red-hot Local Warehousing Market
Across North America, the industrial real estate market has seen record-breaking growth over the past few years largely fueled by the surge in online buying and the consumer's insatiable desire to have items delivered to their door as quickly as possible. This demand requires warehousing space and logistics services in strategic locations.
The Chicago area -- and particularly the Western and Southwestern suburbs -- has been dominating the country in terms of logistics and warehousing growth. Colliers International, a Canadian real estate firm, published data in early 2022, stating that Chicago's net absorption rate totaled 44.5 million square feet for 2021 -- vastly exceeding the previous record from 2016 of 26.6 million square feet. Net absorption measures the amount of occupied warehouse space minus vacated space. The Chicagoland locations offer excellent cost and service advantages, such as:
• Central U.S. location with access to major markets;
• Sites at or near interstate highway ramps;
• Major rail and highway logistics hub terminals;
• High-volume domestic and international airfreight services; and
• A large and productive workforce.
The Interstate-55 corridor continues to see remarkable growth for warehousing facilities. It is a strategic location with immediate access to major interstates.
Let's get the word out about Illinois and EVs
The nation needs to know that Illinois State University, just a 10-minute drive away from the plant, is planning to invest $44 million to launch an engineering school, again so Rivian and its suppliers have the skilled labor they need. Pritzker signed the law championed by Illinois state Rep. Dave Vella and state Sen. Steve Stadelman during a visit to the future home of the Rock Valley College Advanced Technology Center in Belvidere. The facility focused on advanced manufacturing education is expected to open in 2022. Saying Illinois could become the epicenter of a "clean transportation revolution," Gov. JB Pritzker signed the Reimagining Electric Vehicles in Illinois Act.
An ad campaign would be a smart move. The country needs to know what's happening here.
Reimagining Electric Vehicle Industry in Illinois
FOR IMMEDIATE RELEASE CONTACT:
Date Mar 20, 2022 Reggie Greenwood
Chicago Southland Economic Development Corp
reggie.greenwood@chicagosouthlandedc.org
CHICAGO SOUTHLAND ECONOMIC DEVELOPMENT CORPORATION RECEIVES ($3,960) LOCAL TOURISM GRANT TO PROMOTE
Reimagining the Electric Vehicle Industry event
Chicago Southland Convention & Visitors Bureau grant helps market the event
Chicago Southland Economic Development Corporation recently received a $3,960 Local Tourism Grant from the Chicago Southland Convention & Visitors Bureau to promote Reimagining the Electric Vehicle Industry, on Earth Day, at Governors State University.
The grant will be used to design advertisements and promote the event on Linkedin to attract people in the industry. This is the first EV-related event in the Southland and will draw stakeholders from state, county, and local governments, businesses in EV and supporting industries, workforce and economic development agencies to the Chicago Southland region.
“I think by having the state of Illinois, Congresswoman Robin Kelly’s office, and all these other universities, and private sector companies attend, the event becomes like an organizing forum,” Greenwood said. “Illinois (wants) to become the Silicon Valley of the electric vehicle (EV) industry. SCICBI is contributing to that goal via working on EV supply chain projects with numerous partners.”
The Chicago Southland Convention & Visitors Bureau distributes up to $51,000 annually to Southland municipalities and not-for-profit organizations to promote events designed to draw visitors into the Chicago Southland region for overnight stays. These visitors contribute substantially to the Southland economy through stays in regional hotels, dining at local restaurants, shopping, recreational activities, and needed services travelers require, such as gas, oil, and sundry items.
“The Local Tourism Grant program is a way for the Bureau to extend its marketing reach,” said Jim Garrett, CDME, President/CEO of the Chicago Southland CVB. “The marketing efforts by our communities – in addition to marketing efforts by the Bureau – help us better promote the many meeting facilities, group tour attractions, festivals, sports events and area attractions throughout the Southland to potential visitors.”
Please contact Reggie Greenwood or visit https://csedcworks.org/ev-event for more information.
U.S. Rep. Robin Kelly of Matteson to succeed Michael Madigan as state party chair
Illinois Democratic leaders on Wednesday night selected U.S. Rep. Robin Kelly of Matteson as their new state party chairman and the successor to embattled former House Speaker Michael Madigan, who held the post for 23 years.
In a vote of the 36-member Democratic State Central Committee, with each member’s ballot weighted by the number of votes cast in the 2020 March primary, Kelly got 52% to 48% for Chicago Ald. Michelle Harris, 8th.
Please click here to read more.
AMTRAK #NEWACELA TESTING IN COLORADO AT TTCI
Amtrak is advancing testing on the #NewAcela trainsets near Pueblo, CO, with partners @Alstom and @TTCI_tech. We're releasing this short video on progress toward our 2021 launch of the new fleet.
Click here to view the video to learn more about Acela.
New Chicago Multimodal Service
With the flexibility of over-the-road transport for the first mile/last mile and the value of rail for the long haul, CN's new Chicago Multimodal Service offers a capacity option that will help keep your supply chain agile and competitive.
Learn more: https://bddy.me/3lu9lxU
Indy 500 Victory by the Lanigan Family
The Lanigan Family and Rahal Letterman Lanigan Racing are pleased to have our Chicago-area Lanco employees be a part of our Indy 500 Victory - by bringing the celebration to them! Takuma Sato, his #30 winning IndyCar, and the revered Borg-Warner trophy, are visiting the Mi-Jack facility. Employees get to see the car, take photos, and be entered into a raffle to win RLL racing memorabilia.
Comcast Business Brings Its Advanced Network Technology to Downtown Park Forest
Comcast Business announced today that it has expanded its advanced network infrastructure in Downtown Park Forest, adding a half mile of fiber optic cable along Forest Blvd, Victory Drive, Main Street and Liberty Drive. The expansion, which will bring Comcast’s network to more than 100 additional area businesses, is designed to help boost the local economy and make the downtown even more attractive to businesses, residents and visitors.
Congratulations Indy500 champion #30 Takuma Sato and #15 Graham Rahal on his 3rd place finish!
This is a great accomplishment from a Chicago Southland company, Mi-Jack Products, which demonstrates its world-class technology and management capability. I met Bobby Rahal at Ballagios one day and I have heard stories of Gene Larkin picking up David Letterman from the airport. Rahal Letterman Lanigan Racing is Co-owned by 1986 Indianapolis 500 winner Bobby Rahal, former television talk show host David Letterman, and businessman Mike Lanigan.
Witech XPO Site
Top loading wet sandy clay from a large basin at our XPO site in Chicago Heights, IL. Good thing the dump side is receiving chemical modification to not only dry but strengthen the characteristics of this soil prior to being compacted within the building pad. This will provide a suitable and stable pad for the rest of the development to be built on above the grade! Witech Co., Inc.
#witechexcavating #witechcompanyinc #caterpillar #B1P #349F #soilmodification #massearth #justmovedirt #buildwithpurpose #toploading #logistics #cargofreight #development
New investments in Matteson
Site once eyed for big Country Club Hills mall sprouts warehouses
Near a highway interchange in Country Club Hills where a large outlet mall had once been proposed, an example of the possible economic future of the south suburbs is being built. More than 1 million square feet of warehouse and distribution space is expected to be ready for occupants by year’s end at LogiPark 57-80, being built on more than 100 acres a stone’s throw from where Interstates 57 and 80 meet.
AMAZON AIR: 2020'S TRANSPORTATION JUGGERNAUT
Amazon Air is 2020’s transportation juggernaut, flying high above the many airlines struggling to keep aloft during the coronavirus epidemic. This wholly owned subsidiary of retailing giant Amazon is growing rapidly in response to another surge in online buying. Amazon Air’s expansion marks one of the most significant developments in the U.S. air-cargo business in years—and is giving a shot-in-the-arm to smaller airports oriented primarily towards freight shipments.
South Suburban Land Bank erases property tax debt and helps redevelop the south suburbs
On Jan 28, 2020, Ted Slowik released an excellent new article in the Chicago Tribune Southtown featuring the land bank and one of Southland’s success stories - multiple property buyer Dennis Suglich, the owner of Cuzins Bar and Restaurants in Blue Island, Midlothian and Tinley Park; and the newly opened Gracie's Wine Bar in Midlothian.
Click here to read the full article on Tribune.