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Chicago Industry Trends
As Chicago industry trends change, Chicago is welcoming an increasing diversity of new business and real development projects. Office leasing is booming despite rising construction costs as per the BOMA/Chicago Study Tenants place more value on amenities and places to be, which is driving them away from extravagant new constructions to more collaborative space; this trend is also evident by retrofitting existing buildings to facilitate companies to use them in a variety of ways when they reduce their size or move into smaller space.
IT (Information Technology) has quickly become one of the fastest-growing industries in Chicago due to the growth of shared workspace providers like WeWork and Regus and also due to the fact that IT firms take advantage of Chicago's robust infrastructure and proximity to talent pools in other industries. In addition, the 1871 incubator has been recognized as one of the premier incubators in the world.
Chicago is among the three most productive cities across the US with a high concentration of food and plastics, as well as metals. Manufacturing companies profit from Chicago's central location that allows their products to be easily transported across the nation or globe. Furthermore, innovation within this industry is rapidly increasing thus Chicago has many incubators like mHub.
Transportation and logistics are key economic drivers in Chicago region, especially when businesses shift away from traditional retail and press release apa Citation move to online sales. Chicago boasts a diverse shipping fleet including container ports as well as air cargo hubs, airports, inland waterways and rail yards. It also has strong intermodal facilities that provide access to the whole US logistics chain.

Chicago remains well placed for a long-term economic success due to the recent expansion of Chicago Mercantile Exchange - a world-class trading center and processing commodities – taking effect. Union Station serves thousands of Amtrak travelers every day. The port serves as a crucial part of regional commerce through handling containers as well as bulk goods.
Tourism in Chicago area is also seeing an increase, and it is expected to be back to pre-pandemic levels by the end of this summer due to several major events such as NASCAR races Lollapalooza festival, Democratic National Convention and the International Manufacturing Technology Show. O'Hare airport will see an increase in travel as more airlines resume service and the government reduces travel restrictions. Nevertheless, consumer confidence could suffer as it is extremely unpredictable in the housing market and real estate professionals are able to aid buyers to navigate these complexities and ensure that well-informed decisions are being taken by buyers.
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