Chicago Leads Nation for Fourth Year in a Row; Only North American City in the Top 20
Mayor Rahm Emanuel today announced that, for the fourth year in a row, the Chicago metropolitan area leads the U.S. in foreign direct investment (FDI) according to the 2016 IBM Global Location Trends report. The annual report, which outlines the latest trends in corporate location selection, found that Chicago’s rank has risen a spot to seventh globally and is the only North American metro area in the global top 20.
“Chicago is an international city with a rising place in the global economy and this newest report shows that our momentum is building,” Mayor Emanuel said. “Foreign investments into projects and businesses in Chicago create jobs and economic opportunities in every corner of the city and I look forward to continuing our work to generate these important returns.”
Chicago is the only North American metro area ranked in the top 20 cities in the world, trailing only London, Paris, Amsterdam, Dubai, Bangkok and Singapore in terms of the total number of FDI projects. In North America, the Chicago metro area saw more FDI projects than the next three highest cities, Montreal, Miami and Atlanta.
A hub of international business activity, Chicago is home to more than 1,800 foreign-based companies, accounting for more than $100 billion in foreign direct investment. World Business Chicago continuously works to increase foreign direct investment with initiatives including its Gateway Cities agreement with eight Chinese cities and its Global Cities Economic Partnership with Mexico City. These efforts serve as a model to enhance business relationships with other global cities to facilitate trade and foreign direct investment.
The IBM Global Location Trends report shows where companies are locating, expanding, and creating jobs around the world. Projects must meet IBM criteria, including having created more than 10 jobs, to qualify. For the complete IBM report, visit: http://ibm.biz/gltr2016.