Chicago's Challenges Drive Major Company's Exit

High Crime Rates and Taxes Drive Citadel's Exit

Ken Griffin, the CEO of Citadel, a major investment firm, recently shared his reasons for reducing his company's presence in Chicago. The decision, which began in 2022, stems from Griffin's dissatisfaction with the city's high crime rates and taxes.

Employee Relocation and Shrinking Workforce

Griffin noted that many of his employees were eager to relocate to cities like New York or Miami. As a result, the number of employees in Chicago dropped from around 1,300 to just a few hundred. Citadel, which once occupied a large skyscraper, will now only maintain a small space in the city.

Personal Experiences Influence Decision

The decision to leave was heavily influenced by personal experiences. Griffin recounted incidents where one of his colleagues was robbed at gunpoint and another was assaulted by a stranger. These events, along with other challenges, made it clear that Chicago was no longer a safe or attractive place for the company.

Broader Implications for Chicago

Griffin expressed sadness that so many people were willing to leave their lives in Chicago behind. He believes that crime and other issues have made it difficult for people to stay in the city. This move comes as Chicago faces ongoing debates about how to reduce crime and improve safety.

Federal Involvement in Chicago's Crime Crisis

Recently, President Donald Trump has been discussing crime in Chicago with local leaders. The federal government has even sent National Guard members to protect a federal facility in the area, highlighting the city's ongoing struggles.