Friday, July 20, 2018
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Overseas firms bringing up to 300 jobs to Chicago
GREG HINZ ON POLITICS
Photo by Wikimedia Commons
Mayor Rahm Emanuel is highlighting a trio of economic announcements today that collectively involve up to 300 jobs now, and potentially more later.
Rio Tinto Group, a London-based mining and metals company, is opening a sales and marketing office downtown that will employ about 70 people by the end of the year. A company spokesman said the firm has leased 18,000 square feet—half a floor—in the Aon Center, and all of the jobs will be either newly created or transferred from other parts of the country.
The office will put the company in closer contact with existing and future customers, and gives Rio Tinto "access to the U.S. talent pool," Chief Commercial Officer Simon Trott said in a statement. Most of the company's current 3,000 U.S. employees now work in western states.
A bigger group of workers is involved in a decision by DMG Mori, a German machine-tool company, to move its North American headquarters from Hoffman Estates to a location on or near the campus of the Illinois Institute of Technology in the Bronzeville neighborhood.
An exact location has not been determined, but the shift will provide an "opportunity for us to interact on a daily basis with the faculty and students of IIT," DMG Mori USA President James Nudo said in a statement. Nudo called that "unique in our industry." Said IIT President Alan Cramb, "IIT is a university where students learn by creating, building and solving, and we couldn't think of a better educational opportunity for our students to work with and learn from a company like DMG Mori."
The city says many, though not necessarily all, of the firm's roughly 225 workers in Hoffman Estates will be relocated to the IIT-area office.
No city incentives were involved in the Rio Tinto and DMG Mori moves, according to City Hall.
Emanuel also announced in a midday speech that Chicago leads the U.S. in foreign direct investment for the sixth year in a row in an IBM Global Locations Trends report. (You can read the full report below.) The city also moved up a notch to fifth place globally, trailing only London, Paris, Singapore and Amsterdam-Rotterdam in total projects, Emanuel said.
The city already is home to 1,800 foreign-based companies that collectively have invested more than $100 billion here, said Emanuel, who at the beginning of the week returned from a trade mission to China and Japan.
MAYOR EMANUEL AND DMG MORI ANNOUNCE COMPANY IS RELOCATING CORPORATE HEADQUARTERS TO CHICAGO
Innovative Tech Manufacturer to Locate North American Headquarters Near Illinois Institute of Technology on Chicago's South Side; Move Follows Mayor's Economic Mission to Japan and China
Mayor Rahm Emanuel today joined DMG MORI to announce the company is relocating its North American headquarters to Chicago. The move follows a meeting between the company and Mayor Emanuel during a recent trade mission to Japan. The company is working with Illinois Institute of Technology to identify space on and near the school's campus for the company to move into and build a product showroom.
"Manufacturing is written in Chicago's DNA and today the sector is running on all cylinders," Mayor Emanuel said. "Thanks to world-class institutions like Illinois Tech and global companies like DMG MORI we are creating jobs today while ensuring the future of manufacturing in Chicago is even stronger than its past."
The move is driven by the DMG Mori's desire to interact with faculty and recruit talent from IIT. The company is currently headquartered in Hoffman Estates and has approximately 225 employees at that location and more than 1,000 in the US, Mexico and Canada.
"DMG MORI is a world leader in manufacturing technology," said DMG MORI USA President James Nudo. "The opportunity for us to interact on a daily basis with the faculty and students of Illinois Institute of Technology is unique to our industry. Locating our North American Headquarters in the world class city of Chicago gives us an unlimited potential going forward."
Since its foundation in 1948, DMG MORI CO., LTD. has continuously provided innovative machine tools for customers all over the world. The company deeply appreciates its customers' long-term patronage and support. The company reached a capital and business partnership agreement with German machine tool builder DMG MORI AG in 2009 and completed management integration with them in 2016. Together the companies have a total of approximately 12,000 employees with diverse backgrounds, all heading to the same direction with the aim of being the No. 1 machine tool manufacturer for customers and total solution provider. DMG MORI appreciates all of the people in the manufacturing industry and continuously exerts full efforts for further business growth as a group of reliable professionals.
"Illinois Tech is honored to partner with DMG MORI as it brings its legacy of innovation to the city of Chicago," Illinois Tech President Alan Cramb said. "As Chicago's premier tech-focused university, we have a long history of contributing to the economic vitality of this great city. And I know that our talented students and faculty will be an extraordinary resource for the company. Illinois Tech is a university where students learn by creating, building and solving, and we couldn't think of a better educational opportunity than for our students to work with - and learn from- a company like DMG MORI."
IIT is a private, independent research university that is technology-focused, innovation-centered, and idea-driven. It offers undergraduate and graduate degrees in engineering, science, architecture, business, design, human sciences, applied technology, and law. One of 21 institutions that comprise the Association of Independent Technological Universities, Illinois Tech offers exceptional preparation for professions that require technological sophistication, an innovative mindset, and an entrepreneurial spirit.
In the last three years alone, Illinois Tech has produced more than 3,300 computer sciences, electrical and computer engineering, information technology, business, design and food science graduates. Illinois Tech is second in the nation in overall economic mobility of its students among highly selective private universities.
Alan W. Cramb
President, Illinois Institute of Technology
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