Diverse Economy
Chicago has one of the world's largest and most diversified economies, with nearly 4.3 million employees and a gross regional product (GRP) of $500 billion. It is an efficient economic powerhouse that is home to more than 400 major corporate headquarters, including 29 Fortune 500 headquarters. Rated #1 Large US Metro for Economic Diversity by Moody’s Investor Services, Chicago is a key player in every economic sector from risk management innovation to manufacturing to information technology to health services.
Trading Post
The most distinctive aspect of Chicago's financial services community is also among its oldest. The city's derivatives exchange community, which started with commodity futures trading at the Chicago Board of Trade in 1848, established the city as a global financial center. To this day, even though the trading of derivatives is conducted on an ever-expanding international scale, Chicago arguably remains the geographic center of global derivatives trading – in terms of markets, scale and talent.
- Over $4 billion in global derivatives trading volume, 20% greater trading volume than New York.
- Chicago-based Options Clearing Corporation clears all US options contracts – a record 4.6 billion in 2011
- Chicago futures and options exchanges collectively dominate exchange-based derivatives trading, with 50% of exchange-based derivatives trading in the U.S.
- Chicago accounts for 16% of the global derivatives trading market; more than New York (13%), and nearly as much as all exchanges in Europe (20%)
Green Economy
Chicago has long been a leader in sustainable business, underscoring a commitment to be the greenest city in America. Chicago continuously ranks as one of the most sustainable cities in the country, with more LEED registered and certified buildings than any other city, 18 wind energy companies (and growing), a Top 5 Metro rating for the number of Energy Star rated buildings, and an incomparable workforce - including more than 2,600 LEED credentialed employees. Combined with cutting edge R&D and wide-ranging incentives, Chicago is an ideal location for green companies to locate and grow. Read More…
Growing Economy
Chicago continues to grow: total trade reached $177 billion in 2011 (up from $133 billion in 2007). Chicago is top-ranked for economic potential among major cities across the world, and in 2011, World Business Chicago identified more than 300 new & expanding facilities announced, under development or completed in the metro area, representing a total of more than 18 million square feet (up from 14 million in 2010) and $2.6 billion in economic development activity (up from $2 billion in 2010). In 2011, Inc. Magazine included 212 companies from the Chicago region in its annual list of the 5,000 fastest-growing companies in the U.S., placing Chicago 3rd among metro regions for number of jobs created by 'Inc. 5000' companies; the city itself was represented by 84 companies on the list.
