October 4th, 2016
An Overview of Chicago’s Central Business District
Chicago’s central business district (also referred to as The Loop) is among the nation’s top three largest business hubs. Chicago’s CBD occupies a total area of approximately 1.6 square miles and is located in the eastern side of the city, right on the shores of Lake Michigan. The CBD can be sub-divided into five smaller areas: West Loop, South Loop, Michigan Boulevard, Printer’s Row, and New Eastside.
The Loop is a densely populated area where business and residential areas exist side-to-side. Unlike other CBDs in American cities, The Loop continues to experience rapid growth in terms of its permanent population, which exceeded 30,000 people in early 2016. The Loop attracts a large number of young professionals due to its convenient location, excellent transportation links, and supply of quality housing. The area is well served by buses, commuter trains, Amtrak services, and CTA trains that link the central business district with O´Hare and Midway international airports.
Chicago’s CBD among the country’s top 20 metropolitan areas with the highest business density, ranking 6th with nearly 33 business establishments per square mile. The Loop’s dynamic economy relies on a diverse industrial base and healthy mix of small, medium, and large companies. Read the rest of this entry »
May 4th, 2016
What is considered acceptable use of social media in the modern workplace? How can what you post on social media both in and out of the office be used against you?
Although in many cases U.S. laws and regulations have not kept pace with all the latest developments, legislators and employment specialists have become increasingly aware of the issues. Facebook has over one billion users, with Twitter boasting around 500 million – and LinkedIn around half that.
Understandably, many employers were reported as having noted this tendency with some degree of alarm, voicing fears such as reduced productivity, adverse publicity and a possible trend in work-related claims and liability. Some have wondered about their rights to ban social media usage in the workplace – yet these same employers have seen their levels of businesses grow in many cases due to social media’s innate ability to market products and services to new customers. Companies also hire bloggers, endorsers or community managers to take advantage of the phenomenon.
In addition, employee morale is usually higher with access. What is clear, however, is that social media policies are just as important an area as any other (such as vacations, special leave and anti-discrimination) in contracts of employment and the general relationships between employers and employees.
As social media developed, some government agencies began issuing guidance. While some of this has been based on common sense and an intuitive approach, other examples have been less so. Specifically, some NLRB (National Labor Relations Board) pronouncements on the subject have been viewed as self-contradictory and confusing. The NLRB has received most of its press attention for supporting the employee right of engaging in concerted activities. Here, one key test is whether any one employer policy would reasonably have the effect of distressing employees; such clauses are deemed invalid in employment contracts. The Equal Employment Opportunities Commission (EEC) has also taken an interest in the question. Read the rest of this entry »
April 13th, 2015
When a company decides to relocate to a new location, whether they are an SME or a corporate giant, the relocation project can be complex. Whether a business relocates in-state, across the country or internationally, it requires a team of planners with diverse skills and experience to accomplish a smooth, seamless relocation process.
In addition to the actual relocation planners involved, there are often additional teams of assistants that are required. These include:
- Personnel and human resources experts and recruiters
- Corporate legal advisers
- Real estate managers and supervisors
- Tax and/or CPA specialists
- Environmental consultants
These are a few of the teams needed to accomplish relocation with minimal disruption.
The size of a company will relate to the size of the relocation project and amount of planning. There is much less involved in relocating a law firm comprised of a half dozen employees than a research laboratory with two dozen research personnel and administrative associates.
Small to moderately sized offices are generally easier to relocate than manufacturing and retail facilities with several detached buildings in the facility’s complex. Read the rest of this entry »
March 31st, 2015
Overview of Business in Manhattan
For decades, Manhattan has been a global business hub of undisputed prestige. This New York borough is home to some of the world’s most successful businesses and to the largest stock exchange in the world. Manhattan has repeatedly topped the global lists of most powerful cities, staying ahead of other leading business hubs like London, Dubai, Hong Kong, or Shanghai. Due to its excellent infrastructure, world-class business environment, and valuable human capital, Manhattan is the world’s most desirable business location . The borough’s thriving business scene is a catalyst for economic growth, and this is reflected in the local employment levels. According to the NYCEDC, more than 310,000 jobs are based in this borough, tens of thousands of which have been created in the private sector since 2005.
The banking and financial sector is the key economic driver for the local economy. More than 300,000 people are employed in this industry, which according to the Federal Reserve generates more than 35 per cent of the city’s income. The service sector is another key industry in Manhattan, as it employs over 1 million people in areas like tourism (over 240,000 jobs), professional and business services (287,000 jobs), or healthcare and social assistance (208,000 jobs).
The number of technology, advertising, media, and information companies (TAMIs) has skyrocketed since 2009. Back then, TAMIs barely occupied 100,000 square feet of space in Manhattan, but at the end of 2014 that figure had increased to more than 1.6 million. A report published by the Downtown alliance estimates that this sector is comprised of over 800 firms that generate a combined annual output of $125 billion and that employ nearly 29,000 people. Likewise, Manhattan has recently been attracting a steady number of creative firms. According to an article published at the Wall Street Journal, the number of employees working in creative ventures in this part of Manhattan has increased by 71 per cent over the past five years. Read the rest of this entry »
February 24th, 2015
Overview of Business in Los Angeles
A variety of industries help to make Los Angeles the successful economic center that it is. The city attracts businesses in the tourism, TV/film, hospitality and technology industries. These are not the only industries that thrive in the city, however. Traditional industries like law, finance and medicine also create jobs for residents in the city. Young professionals are attracted to the opportunities presented by the technology, medical and information industries.
International trade is also a major driver of the economy of Los Angeles, with its twin ports handling more than forty percent of both inbound and outbound containers for the whole country. More than one hundred and sixty thousand workers support the international trade sector in L.A. county.
Major Industries & Key Economic Drivers in Los Angeles
Technology continues to be a driving force behind the economy in L.A. and a number of major tech companies have their corporate offices in city and its surrounding areas. The information industry continues to provide numerous job opportunities for young graduates, in particular, the film and video gaming industries. The biotech industry is also combining with the information industry to create new applications that are beneficial for the health of society. Read the rest of this entry »
February 12th, 2015
The city of Boston has histrorically had a reputation for its international ports and its textile manufacturing industry. Manufacturing in general has dropped in the US over the years, however while the textile manufacturing industry still remains very strong in Boston, other industries have become more dominant in the last 20 years, and Boston continues to be a viable economic center that is still experiencing growth.
Major Industries in Boston
The economy in Boston has seen a shift away from textile manufacturing and more towards technology manufacturing and service industry jobs. The major industries in Boston can be broken down into the urban industries and the suburban industries. In the city of Boston itself, the primary industries are finance and professional services. The city also contains much of Boston’s technology manufacturing as well.
The suburban areas of Boston rely primarily on technology manufacturing and national defense. The outlying areas of Boston are populated with a wide variety of skilled technical workers and military bases. Read the rest of this entry »
January 5th, 2015
The city of Dallas has become renowned for its plentiful job opportunities, low tax rates and affordable housing. Young college graduates and established professionals alike find the idea of working in this bustling city an excellent choice.
Several major industries have helped make Dallas a powerful business city in the U.S. and in recent years, Houston and Dallas have attracted thousands of new residents. Some of the key industries in the city include information services, goods manufacturing, telecommunications, media, logistics and food manufacturing.
Over 80,000 companies have made their home in Dallas, and many Fortune 500 companies have also chosen to place their main headquarters in Dallas. High-tech start-ups are growing increasingly attracted to Dallas due to it’s favorable tax laws and low rental rates.
Major Industries & Key Economic Drivers in Dallas
Other industries that make up the economic base of Dallas include finance, aviation and international trade. In downtown Dallas, you can find the offices of several major finance firms. Dallas is an excellent place for young professionals to seek opportunities in investment banking or law, with several large law firms having offices located in the high-rise buildings in downtown Dallas. Over 342,000 Dallas residents are currently employed in the professional and business services field.
The state of Texas is home to fifty two Fortune 500 corporate headquarters, with Dallas itself boasting an impressive seven Fortune 500 company headquarters including AT&T, Energy Transfer Equity, HollyFrontier, Southwest Airlines and Texas Instruments. Read the rest of this entry »
October 30th, 2014
Since the discovery of oil in Houston, Texas in 1901, the city has relied on energy revenue for its growth and survival. That means that Houston followed the trends of energy prices, which took nose dives in the 1970’s, 1980’s and 2000’s. But each time, Houston was able to bounce back and open up new areas of energy exploration and refining that have allowed the city to grow. As time has gone by, Houston has learned to diversify its economy and a new Houston is starting to emerge from under the shadow of the energy industry.
Major Industries in Houston
One of the industries that Houston has turned to for balancing out the energy sector is the chemical manufacturing industry. Today, the city of Houston and its associated industries produce almost 40 percent of all of the basic chemicals used by domestic and international industry. It is estimated that nearly 40,000 people in Houston area work in the chemical manufacturing and refining industry.
Along with energy and chemical manufacturing, Houston also relies heavily on the technology sector for jobs. The space exploration and engineering industry in Houston employs well over 17,000 people as scientists and engineers. The Houston economy benefits significantly from its abundance of high-paying jobs.
Key Economic Drivers in Houston
While Houston benefits greatly from advances in its energy and chemical industries, one of the prime economic drivers for the city’s economy is its growth in the service industries. Nearly 16 percent of the Houston working population work in insurance sales, real estate and personal finance. This number continues to grow and so does the revenue generated by these industries. Read the rest of this entry »
October 8th, 2014
Overview of Business in Miami
In recent years, Miami has begun to attract major industries and corporations. The low tax rates of Florida make doing business attractive for corporations. In addition, the state also maintains numerous tax incentive programs that provide refunds for corporations that create jobs for residents. Logistically, businesses also find that opening an office in Miami makes sense. Because Miami is located on the coast, it is easy for corporations to engage in trade with foreign entities. The Port of Miami has enabled the cruise industry to thrive in the state.
Major Industries & Key Economic Drivers in Miami
In Miami, tourism makes up one of the most popular industries. Tourism is also a popular industry for greater Florida. Miami features prime beaches and real estate. In 2003, about nine million tourists spent over $10 billion on vacationing in Miami.
Another reason Miami continues to be a popular location for major corporations is due to its location as a port. The Port of Miami enables businesses to engage in international trade. Numerous port brokers and customs agents are located in the area to facilitate the process of international trade. There are also two free trade zones located in Miami, which are the Miami Free Zone and Homestead Free Zone. Over 252,000 employees currently work in the trade and transportation industries in Miami.
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March 4th, 2014
It is easy to take health and safety in the office for granted, until someone gets injured in an accident that could have been prevented. The Occupational Health & Safety Administration, also known as OSHA, has a comprehensive set of guidelines that every office can follow to keep workers safe.
When it comes to office safety, there are some key areas to consider. Your office desks, cubicles, and office accessories all need to be treated with the proper respect if you are going to avoid accidents and injuries. The worst mistake you can make is assuming that you are safe from danger just because you are in an office.
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