High-tech entrepreneurship, the health care industry and a resurgent manufacturing sector are just a few of the important elements of the Chicago region’s economy.
Among some of the well-recognized Fortune 500 companies headquartered here are Motorola, Boeing, McDonald’s and agricultural processor Archer Daniels Midland. Internet marketing company Groupon calls Chicago home and employs more than 2,000 people at its local offices, and online review website Yelp is also growing its operations in the Windy City.
Chicago economic development officials are also trying to create homes for some lesser-known technology interests at 1871, an incubator facility for entrepreneurs. After opening in 2012 with just 50,000 square feet of space, the 1871 building now has room for as many as 400 start-up companies, following an expansion in late 2014.
Median household income in the Chicago metro area – which includes nine counties in Illinois, four counties in Indiana and one county in Wisconsin – is higher than the national median level, as is the region’s per capita income.
The city hopes to raise the incomes of many more residents this year through a program called “1,000 Jobs for Chicagoland Manufacturing.” Through the initiative, the goal is to place 1,000 Chicago residents in local manufacturing jobs by the end of 2015 with a minimum benefits/salary package of $70,000.
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