ReviewTrackers Finds New Home and Leverages Job Creation Tax Credit To Withstand Big Growth for Upcoming Year
ReviewTrackers, a product based business for gathering critical consumer-generated data and intelligence to help companies understand and improve their business moved into a new office located in the River North neighborhood of Chicago. The move marks the first step in their large-scale expansion plans for this upcoming year.
This was an exciting time for the team, as ReviewTrackers’ growth had far outweighed that of their old the space in Chicago’s West Loop. Their new office, located at 320 W. Ohio, sits at 10,000 square feet vs. the 3,300 square feet of their previous office.
Kevin Kent, co-founder and COO of ReviewTrackers says, “We’ve outgrown our office space four times in three years. This time we wanted to ensure that our next space would be able to withstand our projected growth for a couple years.”
Craig McCaw, of MB Real Estate was the Broker for ReviewTrackers during this move. “I had been in the background of their earlier office moves, providing advice here and there, however; due to the size and scale of this move, they asked me to coordinate the entire process,” said McCaw.
“Moving offices is one of the more exciting things that happen when you build a company – it means you are hitting significant milestones,” said CEO, Chris Campbell. Milestones are nothing new to the ReviewTrackers team, as they have been fortunate to experience several of those since the company started in 2012.
In 2015 alone, the company experienced upwards of 250 percent in revenue growth, tripled their staff – going from 10 employees to 30 and moved offices twice.
In the upcoming year, ReviewTrackers has massive growth plans for revenue and will again triple their number of employees which will take them from 30 to just shy of 90.
With their past success in job creation and plans for hiring in the future – the team qualified for a tax credit through the Illinois Department of Commerce. This job creation tax credit provided significant savings that will accumulate to 50 percent of their gross rent. With these savings, the team was able to afford a much larger space that could endure the exponential growth in new hires for this coming year.
“Chicago continues to rise as a center for Tech and Startup companies, and it’s great to see a homegrown Tech company like ReviewTrackers grow their workforce and footprint in Illinois,” Illinois Department of Commerce and Economic OpportunityDirector Jim Schultz said. “The State of Illinois is proud to be a partner in ReviewTrackers’ expansion and we look forward to their continued success in Illinois.”
As ReviewTrackers helps expand job growth in the City so do their other Tech counterparts who call Chicago home. According to a report conducted by World Business Chicago, the Tech industry has had a major impact on the City within the past several years. The report reads, “The amount of new web, mobile and e-commerce technology companies have increased by 3,402 from 2006 to 2015.” The report also shares that because of this increase in companies, they’ve created 80,973 jobs in Chicago.