Diverse Economy
Chicago has one of the world's largest and most diversified economies, with 4.5 million employees and a gross regional product (GRP) of $484 billion. It is an efficient economic powerhouse that is home to more than 400 major corporate headquarters, including 29 Fortune 500 Headquarters. IBM recently rated Chicago as the only US City among 20 "global destination cities" based on investment. 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, more than 2X the trading volume of New York.
- Chicago-based Options Clearing Corporation clears all US options contracts – worth $1.9 trillion in 2008.
- Chicago futures and options exchanges collectively dominate exchange-based derivatives trading, with 58% of exchange-based derivatives trading in the U.S.
- Chicago was named Best Trading City by Trader Monthly magazine in both 2007 and 2008.
- Since 2000, the volume of global derivatives trading has increased from a little over 2 billion contracts traded to more than 17.5 billion; Chicago’s exchange community accounted for 23% of the global increase and 56% of the U.S. market increase.
Green Economy
Chicago’s position as a leader in sustainable business is underscored by Mayor Richard M. Daley’s commitment to making Chicago the greenest city in America. Chicago continuously ranks as one of the most sustainable cities in the country and our incomparable workforce, including more than 2,600 LEED credentialed employees, cutting edge R&D, and wide-ranging incentives make it an ideal location for green companies to locate and grow. Read More…
Growing Economy
Chicago continues to grow: total imports and exports nearly doubled over the past five years (from $80 billion in 2003 to over $150 billion in 2008). In 2009, Chicago was top-ranked for Economic Potential among major cities across the world, and World Business Chicago identified more than 100 medium-sized new & expanded office, distribution/warehouse, and manufacturing facilities announced, under development or completed in the metro area, representing a total of more than 11.6 million square feet and over $1.5 billion ineconomic development activity.
