~4 -

•
Last week S&P announced they
upgraded their outlook for the financial
future of the City of Chicago from
negative to stable. This is a major
milestone for the city. They follow Fitch,
who also improved their outlook for the
city three weeks ago. Both recognize
the strength of our economy and
lauded our work to address decades of
financial mismanagement, from
shrinking the budget deficit to putting
all four city pension systems on the
path to long-term solvency. Below is an
article from Crain's Chicago Business on
the news. http://www.
chicagobusiness.com/article/
20161007 /BLOGS02/161009864/spgives-chicago-some-good-credit-news
Additionally, after years of hard work,
we opened a new Whole Foods in the
Englewood community on the South
Side in late September. This was an
important moment in Englewood's
economic development. Not only did
we create new good-paying jobs for
Chicago residents in Englewood and
give more than 30 local vendors the
opportunity to sell their goods on the
shelves of this new store, we brought
healthy and nutritious food to a former
food desert. Today, we opened another
new grocery store on the South Side, a
Mariano's in Bronzeville, which will
create 400 new jobs and stock its
shelves in part with products from local
vendors. http://www.usatoday.c
om/story/news/2016/10/10/wholefoods-marianos-dip-toes-poor-chicagoneighborhoods/91794408/
Chicago also generated some major
news in the corporate world. In late
September, Wilson Sporting Goods
announced they are relocating 400
employees and their global
headquarters to the Prudential building