Strong, Diversified Economy

Chicago’s industry mix most closely matches the nation's, with no single industry employing more than 12% of the workforce

Photo: “View Up the Chicago River” by Lord is Good

Chicago has one of the world’s largest and most diversified economies, with more than four million employees and generating an annual gross regional product (GRP) of over $609 billion.

The city is an efficient economic powerhouse, home to more than 400 major corporate headquarters, including 36 in the Fortune 500.

Among the most diverse economies in the nation, Chicago is a key player in every sector from risk management innovation to manufacturing to information technology to health services

Most Diversified Economy in the U.S.

Source: Moody’s Analytics (2017), WBC (2018)

Top Metro for New & Expanding Companies

Site Selection magazine has recognized the Chicago area as having more new or expanded corporate facilities than any other for four years in a row: 2013, 2014, 2015 and 2016

Photo: “Atop of Chicago” by Brian Koprowski

Metro for corporate investment in the U.S.

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.

Chicago accounts for one fifth (20%) of the world’s global derivatives trading market; 2X New York (10%) and matching all European exchanges combined (20%)

Chicago-based exchanges generated 4.9 billion in annual global derivatives trading volume with a notional value of more than one quadrillion in 2017

Chicago-based Options Clearing Corporation clears all US options contracts – 4.3 billion in 2017 (the third highest volume on record)

Chicago futures and options exchanges collectively dominate exchange-based derivatives trading, with more than half of exchange-based derivatives trading in North America

$609.2B Economy Rivals Nations

Source: World Bank (2016), Moody’s (2016)

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Chicago’s Business Climate

World Business Chicago (WBC) President and CEO Andrea Zopp has been named to Governor-elect JB Pritzker’s Job Creation and Economic Opportunity Committee under his transition team. At the core of WBC’s mission is driving inclusive economic growth and job creation for all of Chicago. To accomplish its goals, WBC creates initiatives [...]

Wed, Dec 05, 2018, Continue reading at the source

Mayor Emanuel achieves Double Notch Ratings upgrade for City of Chicago
from Kristin Gomez

Kroll Bond Rating Agency (“KBRA”) notes ‘effective management’ and a ‘very diverse employment base’ when upgrading Chicago “This upgrade is a reflection of seven years of work to put our pensions on a path to solvency, address legacy debt issues, and reduce the structural budget gap,” said Chicago Mayor Rahm Emanuel. [...]

Mon, Feb 05, 2018, Continue reading at the source

Chicago Named Top Major City for Foreign Direct Investment Strategy
from Kristin Gomez

Recognized as Most Promising Investment Target in the Americas by fDi Magazine Photo Credit: City of Chicago For the first time, Chicago leads all major cities in the Americas for Foreign Direct Investment (FDI) Strategy according to fDi Magazine’s The American Cities of the Future 2017/18. The bi-annual rankings feature the most [...]

Tue, Apr 25, 2017, Continue reading at the source