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Chicago
Business
Overview
Home to an unrivaled economy,
workforce, and quality of life, Chicago is a
thriving metropolis, yet a tight-knit
community for business and residents.
The city’s dynamic character can be
attributed to its people, its location and
infrastructure, and its collaborative
business and government community.
An Economic Force
Chicago has one of the world’s largest and most diversified
economies, with 4.3 million employees and a gross regional                                                                          City of Chicago
product (GRP) of $500 billion. It is an efficient economic pow-                                                                     2,695,598
erhouse that is home to more than 400 major corporate head-
quarters (27 Fortune 500) and two major global financial ex-
changes.
                                                                                           Total Chicago MSA Population
•   The heart of a 14-county metropolitan area
•   Home to 9.5 million residents, a population that has grown                             9,461,105
    by 4% (+360,000 people) since 2000
•   2.4+ million working-age adults are within a 50-minute com-
    mute of downtown Chicago


Access to the World
Centrally located, Chicago provides nonstop service to more
than 200 cities worldwide, has the second largest public trans-
portation system in the US, is among the five largest container
ports in the world, and serves as a hub for all six major North
American railroads and six major U.S. Interstates.


       An Economy That Rivals Nations

                       RANKING
                       $GROSS PRODUCT ($US BILLIONS)


                                                                                                      19             25
                                                                                                      SWITZERLAND    NORWAY
                                                                                                      $524           $414
                                                                                                16
                                                                                                NETHERLANDS
                                                                                                $783                23
                                                           9                                           6            SWEDEN
                                                                                                                    $456             11
                        15                                 CANADA
                                                                                                       U.K.
                                                                                                                         21          RUSSIA

                                                                             20
                                                                                                       $2,247                        $1,465
                        KOREA
                                                           $1,574
                                                                                                  5              4
                                                                                                                        POLAND
                                                                                                                        $469
                                                                                                  FRANCE
                        $1,007
                                                          1                  CHICAGO              $2,583         GERMANY

            2                                             UNITED STATES      $500                    12
                                                                                                                 $3,316
                                                                                                                          17
            CHINA
                         3                                $14,658
                                                                                                     SPAIN
                                                                                                                8         TURKEY
            $5,878
                         JAPAN
                         $5,459                                     14
                                                                                                     *1,410     ITALY
                                                                                                                $2,055
                                                                                                                          $742
                                                                                                                                       10
                                                                    MEXICO                       22                                    INDIA
                                                                                                                                       $1,538
                                                                    $1,039                       BELGIUM
                 18                                                                              $466                         24
                 INDONISIA                                                                                                    SAUDI ARABIA
                 $707
                                                                                       7                                      $444

                                                                                       BRAZIL
                                                                                       $2,090
                       13
                       AUSTRALIA
                       $1,236




                                   Source: IMF, Moody’s Analytics
A Global City
                         Home to well over 1,500 foreign-based companies and more than $40 billion in
                         foreign direct investment, Chicago has long been a hub of international busi-
                         ness activity. International business resources include:

                         •   79 Consulates/Consuls General
                         •   40+ international/ethnic Chambers of Commerce
                         •   90+ foreign trade and investment organizations
                         •   28 international sister cities


                         International Trade
                         Total trade in the Chicago area has increased from $121 billion in 2006 to over
                         $161 billion in 2010. Global exports, led by industrial machinery, medical &
                         optical instruments, and pharmaceutical products, totaled $36 billion, while
                         imports including electric machinery, industrial machinery, and mineral fuel
                         totaled $126 billion.


          Chicago Customs District — 2010 Total Trade
Chicago Customs District – 2010 Total Trade

     China

    Canada

      Japan
                                                                             EXPORTS       IMPORTS
     Korea

  Germany

    Ireland

Netherlands
                                                              Source: WISER Trade , U.S. Census Bureau,
                                                              Foreign Trade Division, World Bank
     Taiwan

              $0                 $10               $20                 $30                 $40
              Exports & Imports - $US (Billions)
Key Industries
Chicago’s economy thrives on a combination of mature (manufacturing and
finance) and emerging (info-tech, research & development, and green energy)
industries.

Chicago consistently ranks in the Top 5 for GRP among 350+ U.S. metro areas
in the following traditional industries:

•   Business & Financial Services – Top 10 Global Financial Leader (GCFI
    report, March 2011) and home to 17% of the world’s futures, options &
    derivatives trading activity
•   Manufacturing – Output (GRP) leader in electrical appliances, metal prod-
    ucts, food, paper, machinery, and plastics and rubber products
•   Transportation & Distribution – Major center of transportation and ware-
    housing, with the third highest GRP in the U.S.

Chicago is also a leader in a number of emerging industries including:

•   Biotech – Global leader in biomed tech transfer, the conversion of biomedi-
    cal knowledge and research to marketable products
•   Information Technology – Most advanced communications exchange facility
    in the world providing cooperative interconnection point among numerous
    international advanced networks
•   Green energy – Expanding home of 17 wind power companies and more
    buildings registered and certified by the US Green Building Council than any
    other city


A Talented Workforce
Education is one of the key drivers behind a highly skilled and diversified work-
force, and Chicago’s concentration of colleges and universities offer leading
programs to prepare today’s students for tomorrow’s global opportunities.

•   Two of the top business schools in the world
•   250+ corporate research and development facilities
•   93 Nobel Prize winners
•   65,000 students downtown
•   #2 Best City to Get a College Degree among 60 global cities
•   28,800+ bachelor’s, 15,600+ masters, and 3,500+ doctoral degrees
    awarded annually by more than 60 colleges and universities in the city
Quality of Life
                         Chicago offers the amenities and opportunities of a global city, but maintains a
                         high level of affordability and accessibility. There are 35 museums, more than
                         150 theater companies, dozens of destination retailers, more than 400 neigh-
                         borhood festivals that showcase ethnic customs, music and food, and some of
                         the top-ranked restaurants and hotels in the world. Chicago’s low cost of living
                         and doing business ensures you can enjoy more of what the city has to offer.


                    Business Costs
          Tokyo

  San Francisco

      New York

         London

    Los Angeles

         Boston                                                                Source: KPMG Guide to Competitive
           Paris                                                               Business Alternatives which ranks 112
      CHICAGO                                                                  metro areas and 17 industries across 30
    Philadelphia                                                               cost dimensions including: financing,
         Atlanta                                                               labor, utilities, transportation and taxes
        Toronto

                    70       80         90                    100                  110           120




                    Cost of Living
       New York…                                                                                   216

   San Francisco                                                                   164

Washington, D.C.                                                          140

     Los Angeles                                                         136

          Boston                                                     132

     Philadelphia                                                  126

         Chicago                                             117

           Miami                                       106

    U.S. Average                                  100

          Detroit                                 99

         Atlanta                              96

        Houston                              92

           Dallas                            92

                    0             50         100                           150             200           250
                                       Source: C2ER Cost of Living Index, 2010 Annual Average Data
World
Business
Chicago
177 N. State St. Suite 500
Chicago, IL 60601
WorldBusinessChicago.com
1.312.553.0500

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Chicago Business Overview

  • 1. Chicago Business Overview Home to an unrivaled economy, workforce, and quality of life, Chicago is a thriving metropolis, yet a tight-knit community for business and residents. The city’s dynamic character can be attributed to its people, its location and infrastructure, and its collaborative business and government community.
  • 2. An Economic Force Chicago has one of the world’s largest and most diversified economies, with 4.3 million employees and a gross regional City of Chicago product (GRP) of $500 billion. It is an efficient economic pow- 2,695,598 erhouse that is home to more than 400 major corporate head- quarters (27 Fortune 500) and two major global financial ex- changes. Total Chicago MSA Population • The heart of a 14-county metropolitan area • Home to 9.5 million residents, a population that has grown 9,461,105 by 4% (+360,000 people) since 2000 • 2.4+ million working-age adults are within a 50-minute com- mute of downtown Chicago Access to the World Centrally located, Chicago provides nonstop service to more than 200 cities worldwide, has the second largest public trans- portation system in the US, is among the five largest container ports in the world, and serves as a hub for all six major North American railroads and six major U.S. Interstates. An Economy That Rivals Nations RANKING $GROSS PRODUCT ($US BILLIONS) 19 25 SWITZERLAND NORWAY $524 $414 16 NETHERLANDS $783 23 9 6 SWEDEN $456 11 15 CANADA U.K. 21 RUSSIA 20 $2,247 $1,465 KOREA $1,574 5 4 POLAND $469 FRANCE $1,007 1 CHICAGO $2,583 GERMANY 2 UNITED STATES $500 12 $3,316 17 CHINA 3 $14,658 SPAIN 8 TURKEY $5,878 JAPAN $5,459 14 *1,410 ITALY $2,055 $742 10 MEXICO 22 INDIA $1,538 $1,039 BELGIUM 18 $466 24 INDONISIA SAUDI ARABIA $707 7 $444 BRAZIL $2,090 13 AUSTRALIA $1,236 Source: IMF, Moody’s Analytics
  • 3. A Global City Home to well over 1,500 foreign-based companies and more than $40 billion in foreign direct investment, Chicago has long been a hub of international busi- ness activity. International business resources include: • 79 Consulates/Consuls General • 40+ international/ethnic Chambers of Commerce • 90+ foreign trade and investment organizations • 28 international sister cities International Trade Total trade in the Chicago area has increased from $121 billion in 2006 to over $161 billion in 2010. Global exports, led by industrial machinery, medical & optical instruments, and pharmaceutical products, totaled $36 billion, while imports including electric machinery, industrial machinery, and mineral fuel totaled $126 billion. Chicago Customs District — 2010 Total Trade Chicago Customs District – 2010 Total Trade China Canada Japan EXPORTS IMPORTS Korea Germany Ireland Netherlands Source: WISER Trade , U.S. Census Bureau, Foreign Trade Division, World Bank Taiwan $0 $10 $20 $30 $40 Exports & Imports - $US (Billions)
  • 4. Key Industries Chicago’s economy thrives on a combination of mature (manufacturing and finance) and emerging (info-tech, research & development, and green energy) industries. Chicago consistently ranks in the Top 5 for GRP among 350+ U.S. metro areas in the following traditional industries: • Business & Financial Services – Top 10 Global Financial Leader (GCFI report, March 2011) and home to 17% of the world’s futures, options & derivatives trading activity • Manufacturing – Output (GRP) leader in electrical appliances, metal prod- ucts, food, paper, machinery, and plastics and rubber products • Transportation & Distribution – Major center of transportation and ware- housing, with the third highest GRP in the U.S. Chicago is also a leader in a number of emerging industries including: • Biotech – Global leader in biomed tech transfer, the conversion of biomedi- cal knowledge and research to marketable products • Information Technology – Most advanced communications exchange facility in the world providing cooperative interconnection point among numerous international advanced networks • Green energy – Expanding home of 17 wind power companies and more buildings registered and certified by the US Green Building Council than any other city A Talented Workforce Education is one of the key drivers behind a highly skilled and diversified work- force, and Chicago’s concentration of colleges and universities offer leading programs to prepare today’s students for tomorrow’s global opportunities. • Two of the top business schools in the world • 250+ corporate research and development facilities • 93 Nobel Prize winners • 65,000 students downtown • #2 Best City to Get a College Degree among 60 global cities • 28,800+ bachelor’s, 15,600+ masters, and 3,500+ doctoral degrees awarded annually by more than 60 colleges and universities in the city
  • 5. Quality of Life Chicago offers the amenities and opportunities of a global city, but maintains a high level of affordability and accessibility. There are 35 museums, more than 150 theater companies, dozens of destination retailers, more than 400 neigh- borhood festivals that showcase ethnic customs, music and food, and some of the top-ranked restaurants and hotels in the world. Chicago’s low cost of living and doing business ensures you can enjoy more of what the city has to offer. Business Costs Tokyo San Francisco New York London Los Angeles Boston Source: KPMG Guide to Competitive Paris Business Alternatives which ranks 112 CHICAGO metro areas and 17 industries across 30 Philadelphia cost dimensions including: financing, Atlanta labor, utilities, transportation and taxes Toronto 70 80 90 100 110 120 Cost of Living New York… 216 San Francisco 164 Washington, D.C. 140 Los Angeles 136 Boston 132 Philadelphia 126 Chicago 117 Miami 106 U.S. Average 100 Detroit 99 Atlanta 96 Houston 92 Dallas 92 0 50 100 150 200 250 Source: C2ER Cost of Living Index, 2010 Annual Average Data
  • 6. World Business Chicago 177 N. State St. Suite 500 Chicago, IL 60601 WorldBusinessChicago.com 1.312.553.0500