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Port of Chicago attracts $500 million investment
Chicago Tribune ^ | 7-21-2013 | Mitch Smith

Posted on 07/21/2013 8:37:56 PM PDT by Route797

The concrete on the buildings has chipped away, the "no parking" signs are fading and the pavement is filled with sedan-eating potholes.

The Port of Chicago hasn't had a major face-lift in more than 30 years — and it shows. But a 62-year lease to a Colorado company announced Sunday will bring a $500 million private investment that city leaders say will modernize Chicago's port and bring its infrastructure into this century.

(Excerpt) Read more at chicagotribune.com ...


TOPICS: Business/Economy; News/Current Events; US: Illinois
KEYWORDS: chicago; illinois
It's a minor bit of good news, but it's nice to see a private investment in infrastructure in one of our big cities. Anything to help industry, commerce, and employment and to avoid the fate of Detroit.
1 posted on 07/21/2013 8:37:56 PM PDT by Route797
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To: Route797

Saudi or Quatari money?


2 posted on 07/21/2013 8:39:26 PM PDT by 2ndDivisionVet (You can't invade the mainland US There'd be a rifle behind each blade of grass.)
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To: Route797

Looks like a semi-privatization. This is probably a good move for the city, and expect more of this as cites with budget problems need to sell assets.


3 posted on 07/21/2013 8:56:00 PM PDT by Vince Ferrer
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A classic Tribune story: rewrite the mayor's press release, quote him and respond to his hunger for a Photo op. As the bodies pile up, the city's bond ratings tank and Rahm lays off a thousand school teachers.
4 posted on 07/21/2013 8:59:25 PM PDT by Godwin1
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To: Godwin1

And Rahm and some of his cronies fatten their bank accounts.


5 posted on 07/21/2013 9:13:36 PM PDT by laplata (Liberals don't get it. Their minds are diseased.)
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To: Route797

Any ports in Colorado?


6 posted on 07/21/2013 9:17:58 PM PDT by UB355 (Slower traffic keep right)
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To: UB355
Any ports in Colorado?

Closest port to Colorado is Tulsa, OK. Doesn't have good beaches, either.

7 posted on 07/21/2013 9:27:38 PM PDT by Vince Ferrer
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To: Route797

Too bad it comes with union labor - doomed to fail.


8 posted on 07/21/2013 9:35:17 PM PDT by volunbeer (We must embrace austerity or austerity will embrace us)
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To: volunbeer

That 500 million will disappear like an snow ball in the summer sun...might as well burn it.


9 posted on 07/22/2013 4:30:04 AM PDT by dogcaller
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To: Route797

Meanwhile in Kingsport, a $1.2 billion expansion was announced and is in progress


10 posted on 07/22/2013 4:33:39 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Travon... Felony assault and battery hate crime)
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To: 2ndDivisionVet

$500 million won’t go far at all with corrupt unions involved; maybe some cut flowers and throw pillows. That’s chump change for unions.


11 posted on 07/22/2013 4:53:17 AM PDT by carriage_hill (Guns kill people, pencils misspell words, cars drive drunk & spoons make you fat.)
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To: Route797

If you’ve seen the concluding scene in the Chuck Norris movie “Code of Silence”, that’s the Port of Chicago.

The neighborhoods to the west of it (Pullman, Roseland) have turned into crime-ridden hell-holes with empty lots and abandoned buildings ala Detroit; the public housing south of it (Altgeld Gardens) has always been a dangerous dump; and the neighborhood just northeast of it (South Deering) has totally deteriorated over the past four decades once Wisconsin Steel shut down.

Oh, and for those who are interested, Altgeld Gardens and South Deering are where BO got his start in the community organizing racket.


12 posted on 07/22/2013 5:52:47 AM PDT by Stosh
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To: Route797

If Romney had any kind of election brains working for him, he’d have filmed commercial after commercial using Chicago’s fraying infrastructure.

Obama has simply taken the Chicago Way national.


13 posted on 07/22/2013 5:34:24 PM PDT by 1010RD (First, Do No Harm)
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