CORRECTION: A previous version of this story mistakenly referred to the hedge fund Citadel as Citadel Securities. It has since been corrected.
(Daily Caller) Several massive corporations are moving out of Chicago amid the city’s long-running struggle with violent crime.
Tyson Foods announced its plan Wednesday to exit Chicago for Arkansas, joining a string of large companies leaving the Windy City in the past year. The corporate exodus coincides with rising crime rates over the past two years.
Chicago saw a 40% increase in crime from 2021 to 2022, including a 56% increase in sexual assault reports, a 15% increase in robberies, a 52% increase in thefts and a 132% increase in motor vehicle thefts. Last weekend alone, 34 people were shot in Chicago; in several other weekends this year the number has been higher than 50.
Boeing, a global aerospace company that produces airplanes and defense-related products, announced plans to move its headquarters from Chicago to Arlington, Virginia May 5, though the company will maintain a presence in Chicago. Caterpillar announced plans to relocate its headquarters from Chicago to Irving, Texas the following month.
“We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world,” Chairman and CEO Jim Umpleby said in a press release.
