Chicago’s Newest Neighborhood – McCormick Square – Unveiled by Metropolitan Pier and Exposition Authority
April 12, 2016
Chicago’s newest neighborhood, McCormick Square, has been unveiled by the Metropolitan Pier and Exposition Authority.
In her remarks at a luncheon held to present the new destination, MPEA CEO Lori Healey, detailed the current developments underway at McCormick Square.
“The addition of the Event Center and the Marriott Marquis Chicago, coupled with the Hyatt Regency, McCormick Place, and the exciting tourist attractions planned nearby, McCormick Square is becoming a destination rather than just a building,” Healey said.
These enhancements continue to build upon the current offerings on campus. With the combination of two hotels and an event center, McCormick Place now is able to book events and shows that weren’t previously possible.
“Our sales team has already booked three events that we would not have been able to compete for without these additions to our campus – and we still have about 18 months of construction ahead of us. McCormick Square is already delivering on its promise to provide more in one centralized location,” Healey said.
The new events include the American Baseball Coaches Association coming to McCormick Place in 2022 and 2026, Property Loss Research Bureau coming in 2021 and the large corporate meeting Genentech will take place in 2018.
These events alone will bring an estimated 31,000 room nights to the area with a total estimated economic impact of almost $26 million.
“We envision the new neighborhood will continue to evolve into a much sought after destination that will offer something for everyone,” Healey said.
She added, “With almost 3,000 jobs on campus, we bring economic development opportunities as well as vocational training through a partnership with the CPS Southside Occupational Academy. The McCormick Place Rooftop Garden provides sustainable local agriculture producing seasonal harvest that yields 8,000 pounds of vegetables annually, and we are thrilled to continue to partner with the South Loop Farmer’s Market this summer.”
McCormick Square offers the complete event experience with exhibition, meetings and hotel space, and a new Hotel and Event Center opening in 2017 with other entertainment and tourism options under development.
McCormick Square will serve as a catalyst for economic growth and help enhance the vitality of the surrounding neighborhoods, including the revitalization of the historic Motor Row Entertainment District.
Chicago had 21 shows ranked on the 2015 TSNN Top 250 trade show list, which ranks the largest shows in the U.S. by net square footage.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
Add new comment