OK

I occasionally enjoy a made-in-Chicago Vienna Beef hotdog as much as the next guy/gal, however....

A city panel yesterday approved a $5.0 million subsidy to finance Vienna Beef Ltd.'s move from the North Side to Bridgeport.

The Community Development Commission's unanimous approval of tax-increment financing (TIF) will help the Chicago-based hot dog maker cover the $5.0 million purchase and $7.3 million renovation of a 103,445-square-foot factory at 1000 W. Pershing Road.

Vienna is moving there from a 150,000-square-foot factory at 2501 N. Damen Ave. that has served as its headquarters since 1972. The city plans a major reconfiguration of the streets near the Vienna plant to alleviate traffic congestion in the neighborhood, one reason Vienna decided to move, according to a report prepared for the commission.

OK, sorry to hear city plans to rework streets around their current factory might F*** up their business, but you can say that about other businesses and people living in the in the area. are they getting a nice, phat TIF as well?

We don't have to go there (as far as I know) as far as the usual extortion; Vienna Beef threatening to leave the city or state if they don't get a handout-- the owner stated in an interview they had no intention of leaving the city, because being in Chicago was "part of their value/brand".

Note this is a job loser with 50 less people working at the new location.

http://www.chicagorealestatedaily.com/...

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