Mining company to make Chicago its new home

It is fairly well known throughout the Chicago area that Mayor Rahm Emanuel has been doing what he can to bring new businesses into the city. As a part of that initiative, the city has done things to make itself appealing to startups and closely held businesses. As it turns out, these businesses are not the only ones finding Chicago appealing.

Recently, it was announced that mining business Coeur d'Alene Mines Corp. is planning on moving from its current home of Idaho, to Chicago. While there were likely many things that influenced the business to make the move, the income tax credits recently announced by the Illinois Department of Commerce and Economic Opportunity were probably a large part of it. Other factors could be the experienced workers living in the area, the city's economy and the transportation infrastructure it boasts. Illinois' governor reportedly actively recruited the business to make the move.

This is not the first corporate headquarters to make the move from another city to Chicago, since Emanuel took office. Prior to this business' decision, which prior to the move will change its name to just Coeur Mining, 13 other corporate headquarters have made the move.

While the move is most likely advantageous to the mining company, it will also have a positive impact for residents of the Chicago area. In total, the move is expected to bring 160 jobs to the city. The influx of new workers could in turn have a positive impact on small businesses throughout the area as well.

Source: Crain's Chicago Business, "Coeur d'Alene Mines moving HQ to Chicago," March 27, 2013

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