CHICAGO – Chicago is the sole U.S. city to achieve the status of top international city for foreign investment in 2008, in a study released this week at the International Economic Development Conference in Reno, Nevada.
The study, IBM’s annual Global Location Trends report, uses the company’s proprietary Global Investment Locations Database (GILD), which records investment project announcements around the world to analyze global trends in corporate location decision making.
With the growing role of cities in the global economy, this was the first year that IBM included cities in the study. Calculated by the number of foreign investment projects, Chicago was the only U.S. city with a top ranking. To qualify, projects must generate more than 10 new jobs.
“The Global Location Trends report validates that Chicago is truly a top global business destination,” said Rita Athas, president of World Business Chicago. “Despite the slow economy in 2008, Chicago continued to attract investment due to factors including the city’s diverse economy and access to international markets.”
The study noted, “Cities, themselves virtually complete economies in some instances, are increasingly becoming the focal points of global economic activity, and analysis of their performance offers a more granular picture of trends at the country level.” Cities with the most investment include London, Singapore and Paris.
The GILD database is maintained by IBM-Plant Location International (IBM-PLI), a specialized service within IBM Global Business Services that provides advice to global companies on their location strategies, covering all sectors and types of business functions. The results of 2009’s Global Location Trends are being presented at IEDC’s 2009 Annual Conference in Reno, Nevada. Download the full report at www.worldbusinesschicago.com or www.ibm.com/gbs/pli.
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World Business Chicago is a not-for-profit economic development organization promoting metropolitan Chicago. WBC markets Chicago's competitive advantages, coordinates business retention and attraction efforts, and seeks to enhance Chicago's business-friendly environment. WBC's Board of C-level corporate executives is chaired by Chicago Mayor Richard M. Daley.
Plant Location International (PLI) is a global service of IBM Global Business Services’ Strategy & Change practice, specialized in corporate location and economic development services. Operating as a fully globally integrated service - with a global center of excellence in Brussels, Belgium, supported by dedicated Global Delivery resources, and satellite teams in key markets – IBM-PLI provides expert services to corporate clients for analyzing international business locations for expanding or consolidating companies to select the optimal location (country/city).
Media Contact: Karley Sweet
ksweet@worldbusinesschicago.com | 312.553.4658
