Late last year, PowerReviews announced the closing of our San Francisco office in favor of moving all positions to Chicago and more than doubling our existing office space. This change was both economical given the financial ramifications of operating two office and cultural since it limited our ability to collaborate.
Hiring top talent in the ultra competitive San Francisco tech market was difficult and expensive, rents were twice as high and employee tenure was much shorter than in Chicago. We made the tough decision that moving all positions to Chicago would enable us to scale more quickly and continue our record of more than 30% annual growth.
PowerReviews is committed to fostering a transparent and accountable culture that values learning and collaboration. We seek to develop the whole person and embrace the importance of diversity, balance, celebration and recognition. We felt that having all employees in Chicago helped nurture this culture; it made us stronger and better able to serve our clients. In addition, the Chicago tech scene is exploding, with more and more companies calling the Windy City their headquarters.
Last week we moved into a new 52,000 sqf space at 1 N. Dearborn. We have more than doubled our Chicago workforce in the past year. This additional space allows us to continue our impressive growth, with high ceilings, natural light, a large gym, beautiful rooftop space, and it’s centrally located to public transportation.
Chicago, like many of the companies that call it home, is an entrepreneurial city. It is scrappy, diverse and incubates top talent from its world class universities. In addition, the range of the established business industries in Chicago provides another springboard as do organizations like BuiltInChicago.org which provides local entrepreneurs and innovators with an online community to post and search open job positions, stay informed about local startups and Chicago tech sector data, and to host and attend monthly networking events. Chicago is also home to 1871, a center for digital entrepreneurs to plug into a vibrant community of peers, mentors, partners, and investors. These organizations make it easier for companies to find the support they need from technology to funding to recruiting through the lifecycle of a company.
Chicago is also extremely cost effective when compared to our east and west coast rivals. Rent is some of the cheapest of any other large city, which makes it not only attractive to startups but also to powerhouses like Boeing and Hyatt. These Fortune 100 companies are placing more emphasis on their digital and mobile tech efforts which is an area where many of these startups excel. In addition, Chicago is home to several of the best universities in the country and attracts top talent from premier universities across the country. Local firms can tap into this pool of resources as well as partner with universities for internship opportunities, training, learning and serve as a partner.
While many cities in the past have been pop-up tech hubs, Chicago is unique in that it is economically diverse, catering to many different companies and industries with a foothold in the SaaS and B2B space. PowerReviews is proud to be part of the Chicago tech scene. Our company’s success, like many others is Chicago helps bolster the reputation as the premier city for tech startups.