Mayor Rahm Emanuel today joined financial technology company Tegus to celebrate the relocation of their HQ to Chicago from San Francisco and announce the company’s addition of 45 employees by the end of 2019, with expansion goals of more than 100 employees by 2020. The announcement comes as Site Selection Magazine has named Chicago the top metro area in the nation for corporate relocation and investment for the sixth consecutive year.

“Chicago has led the country in corporate relocations for six straight years because we have the talent, connectivity and infrastructure businesses need to succeed,” said Mayor Emanuel. “Our commitment to recruit, relocate and expand business in Chicago has created more than 50,000 new jobs since 2011. Tegus has joined the long list of businesses choosing Chicago for their future because they believe in the future of Chicago.”

Co-Founded in San Francisco, CA by Michael and Thomas Elnick, Tegus operates at the intersection of finance and technology, connecting individual investors with expert advisors to provide actionable market insights.  Tegus relocated their headquarters to Chicago in mid-2018.  Tegus joins a list of over 80 technology companies who have grown their footprint in Chicago since 2011.

“We are focused on hiring exceptional talent and felt that Chicago's diverse talent pool gives us the best opportunity to win,” says Co-CEO Thomas Elnick. “Chicago perfectly fit our hiring philosophy of a high-performing, customer-centric, and ambitious team we want to surround ourselves with. It's also an amazing city full of great people, affordable housing, restaurants, entertainment, and more to keep all of our employees happy."

Tegus' HQ relocation to Chicago is just the latest in corporate relocation. Since 2011, the Mayor has announced 57 corporate relocations and 191 business expansions, which translates into more than 50,000 jobs added as a direct result of these expansion and relocation efforts. The Tegus announcement also comes on the heels of Google’s most recent expansion in Chicago. 

“I talked to both former Commerce Secretary Penny Pritzker and Governor J.B. Pritzker for our March issue,” says Site Selection Managing Editor Adam Bruns. “I was already familiar with just how much entrepreneurial and neighborhood development momentum there is in the City of Chicago, as well as all the logistics, manufacturing and life sciences activity in the Greater Chicago area — that’s what earns metro Chicago our No. 1 ranking so frequently, after all. But they made it abundantly clear how much more work there is to do in the days and years to come, whether it’s boosting the tech economy and keeping more young talent in the region through WBC’s programs and organizations like P33, bringing renewed focus to socio-economic inclusion and equity, making the necessary infrastructure investments to keep the goods and people moving, or strengthening international business ties.”

A key source for the corporate relocation community, Site Selection magazine focuses on new corporate facility projects with significant impact, such as headquarters, manufacturing plants, R&D and logistics sites. In order to be considered, new facilities and expansions must meet at least one of three Site Selection criteria: (a) capital investment of at least $1 million, (b) create at least 20 new jobs or (c) add at least 20,000 square feet of new floor area. Site Selection is published by Conway Inc., which is headquartered in Atlanta, GA.

“Today’s announcement fromSite Selection magazine once again proves that our hard work to grow Chicago’s economy and bring jobs to the city is not just working, but succeeding on an unparalleled scale,” said Andrea Zopp, president and CEO of World Business Chicago. “Companies understand that Chicago is the best city in the country to locate and do business, and we are thrilled to welcome Tegus.”

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