The Votes are In: Area Tech Scene is a Winner Chicago Partnership Says New Numbers Underscore Region’s Growth As A Global Technology Hub July 21, 2000 CHICAGO, IL - The temperature is not the only thing heating up Illinois and Chicago this summer. A spate of independent technology rankings and new statistical evidence is helping to quantify the vibrancy of Illinois and Chicago’s emergence as a technology hub. Respected national media, including “Forbes ASAP”, “Venture Economics”, “The Industry Standard” and “Information Week” released studies this year that reflect favorably on the tech scene in Illinois and Chicago. The May 29 edition of Forbes ASAP magazine moved Chicago ahead of Boston as America’s 4th largest technology region. In particular, Forbes ASAP cited a 97% surge in high tech / internet investment in the preceding year. Venture Economics magazine reported that venture capitalists are finding Chicago and Illinois a good place for investments. Led by the Chicago area, Illinois is credited with garnering a total of $600 million in venture-capital investments in the first quarter of 2000, an increase of 850% over the same period the previous year. This growth rate significantly outpaced the nationwide increase in venture capital, which was up 266% over the same period a year ago. The Industry Standard recently took a close look at where new businesses are being launched in the United States, and Chicago tied for fourth in a ranking of the “Top 10 Startup Areas.” In a similar vein, Illinois ranks #2 (second to California) in the “e-Business 100 Rankings” produced by Information Week, a leading magazine that covers the information technology business. In the May 30 edition of the “Chicago Sun-Times,” Chicago was named as home to 7 of the 30 largest e-consultancies, including Braun Consulting, Diamond Technology Partners, eLoyalty, Inforte Corp., Lante Corp., marchFirst Inc. and Xpedior Inc. To further fuel tech growth, the State of Illinois launched VentureTech earlier this year. Governor George Ryan’s five-year “mortar for clicks” program is a $2 billion shot in the arm for the state’s technology infrastructure. VentureTech is credited as being the largest governmental program of its type in the United States. “None of this should come as a surprise to those of us who have been witness to Illinois’ growth as a technology center,” said Pam McDonough, director, Department of Commerce and Community Affairs of the State of Illinois. “We have historically been at the forefront of technological innovation. Illinois has been a leader from the 1830s when McCormick’s reaper helped tame the prairie to 1993 when the first World Wide Web browser was developed at the University of Illinois, Champaign-Urbana.” Chicago area companies play a big role in spurring growth. Katherine Gehl, special assistant for technology development to Chicago Mayor Richard M. Daley, says: “Chicago has long been known as a world-class transportation hub and manufacturing center. It’s no different today as Chicago assumes a new role as the leading center for the exchange of digital information.” Gehl backs up the assertion with statistical evidence: Chicago recently emerged as the #2 most internet-accessible city More data moves through Chicago’s Internet infrastructure than anywhere else on earth (7 terabytes/day = a rate of 60,000 full pages of text per second). Chicago is also the world’s only interconnection point for international advanced networks Chicago is the second most wired city in the nation. Chicago is #2 as the best market for information technology jobs Metropolitan Chicago is home to 11,610 technology companies that employ about 288,000 workers. Chicago ranks #2 with fastest information technology growth in the nation. Chicago has the largest number of computer programmers (31,660) of any American metropolitan area, and employs 235% more computer programmers than Silicon Valley. CivicNet, an innovative public / private partnership, has been launched to provide high-speed broadband access to virtually every address in the city, making Chicago home to the most-extensive city-wide digital infrastructure in the world. Mayor Daley is the first big-city mayor to put in place a $1 billion plan to bridge the digital divide with an educational program that will produce highly skilled, qualified workers for area tech companies. “The glut of improving statistics and new ratings are telling the story that Chicago is a world center of initiatives that are transforming traditional companies into e-businesses for the New Economy,” says Paul O’Connor, Executive Director of the Chicago Partnership for Economic Development. About The Chicago Partnership The Chicago Partnership for Economic Development is a public / private economic development corporation created and chaired by Mayor Richard M. Daley. The Chicago Partnership’s mission is to expand Chicago’s economy through the growth of the city’s private sector, building the best city in the world in which to live, work, and play. The Chicago Partnership leads in aggressively marketing Chicago’s competitive advantages; assists in the retention and attraction of business to Chicago; maintains a comprehensive database on Chicago; and collaborates with the private, public, and not-for-profit sectors. About the Mayor’s Council of Technology Advisors The Mayor’s Council of Technology Advisors is a public-private partnership whose members are drawn from the private sector, from government, and from the not-for-profit community. The task force was formed in early 1999 as part of Mayor Richard M. Daley’s commitment to support the development of high-tech activity in the Chicago area in the 21st century. The Council’s objective is to help shape the Chicago area’s leadership role as one of the world’s recognized centers of high-technology activity and growth. The Council recommends strategy and policy, and its members also facilitate the implementation of specific programs. Its members include: technology industry leaders, leaders in education, members of world-class science institutions, financiers, and entrepreneurs and job creators Department of Commerce and Community Affairs (DCCA) Overview The Illinois Department of Commerce and Community Affairs (DCCA) is the economic development arm of state government and oversees a wide array of bureaus and divisions: technology and industrial competitiveness, and customized worker training; business development; domestic tourism; film; community development; facilitating infrastructure needs; international business development and tourism; small business assistance through loans, grants, training, technology commercialization and development; coal marketing and development; and recycling and energy conservation and research. In meeting the economic development goals of Governor George Ryan, DCCA Director Pam McDonough and her staff use a variety of program applications to encourage the creation of new jobs and the retention of existing ones. Contact: Paul O’Connor, Executive Director The Chicago Partnership ph: 312-553-0500 Patty Morin, Marketing Director The Chicago Partnership ph: 312-553-4616
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