World Business Chicago
  WBC      WEB VERSION         
April 2007 :: Volume 30
Chicago by the Numbers



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'City of the Future'
Chicago Dominates Globally
 

Financial Times publication fDi Magazine (Foreign Direct Investment) just announced that Chicago is North America’s “City of the Future” for 2007/2008. The award distinguishes the city as having the best prospects for inward investment, economic development and business expansion in the NAFTA region ( USA, Canada and Mexico).

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Olympic Community Partnerships

As Chicago moves one step closer to hosting the 2016 Olympic Games, the spirit and the values of the Olympic and Paralympic games are being celebrated at the community level. There are nine cities that are official United States Olympic Committee (USOC) Community Partners, including Chicago.

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Technology Convergence: NXTcomm '07 Chicago

NXTcomm, recognized as the premiere next-generation global forum and marketplace for the converging information, communications and entertainment technology industries opens at McCormick Place June 18. Running through June 21, it's jointly presented by the TIA and USTelecom.

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'City of the Future' Chicago Dominates Globally

Financial Times publication fDi Magazine (Foreign Direct Investment) just announced that Chicago is North America’s “City of the Future” for 2007/2008. The award distinguishes the city as having the best prospects for inward investment, economic development and business expansion in the NAFTA region (USA, Canada and Mexico).

“No other city has dominated any of these benchmarking exercises anywhere around the globe in the way Chicago has in the major city category,” said David East, Publisher, fDi—Foreign Direct Investment.

Chicago was chosen based on more than 60 criteria including everything from cost effectiveness to human resources to infrastructure. An independent panel of experts looked at data submitted by each individual city, and Chicago ranks number one overall in its category of “major cities” (cities with populations greater than 2 million people) in the publication, which is distributed worldwide.

Scores were given to each city based on seven selection factors. Chicago was the only city (in any size range) to rank in the top five of all seven selection factors:

  • # 1 - Best Economic Potential
  • # 1 - Best Infrastructure
  • # 1 - Best Development and Investment Promotion
  • # 2 - Most Cost Effective
  • # 3 - Best Human Resources
  • # 3 - Best Quality of Life
  • # 5 - Most Business Friendly

“Chicago has the most diversified economy in the country,” said Mayor Richard M. Daley. “The combination of this and our tremendous talent pool, dynamic quality of life and unmatched infrastructure have made us a truly global competitor.”

fDI Magazine researches and awards the honor every other year.  Chicago was also awarded “City of the Future” in 2005, when there were separate award categories for the USA, Canada and Mexico. This year, being grouped together, Chicago takes the honor for the whole region, making the title more competitive. Additionally, this year fDi Magazine reported twice the number of applicants as in 2005.

“We are striving to showcase Chicago’s tremendous business, cultural and human capital resources to the world,” said Paul O’Connor, executive director of World Business Chicago. “Winning this award consecutively proves that our strength as a global competitor is being recognized internationally.”

The “City of the Future” feature is one of a global series of regional reports led by the fDi research staff. Unlike other frequent media rankings led by opinion polls, this competition reflects independent analysis of factual data. The selection process is similar to the way executives and site selection consultants weigh potential locations on many critical selection factors as they develop a list of preferences out of an extensive list of alternatives.  

Foreign Direct Investment (fDi) is a specialty magazine published by the Financial Times group for C-level executives and their professional advisors.  It provides global market research and analysis for the executives who are responsible for the global business strategy and location selection decisions of their companies, such as where to establish, maintain, expand, or relocate operations as companies adapt to the changing conditions in their markets.



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Olympic Community Partnerships

As Chicago moves one step closer to hosting the 2016 Olympic Games, the spirit and the values of the Olympic and Paralympic games are being celebrated at the community level.

There are nine cities that are official United States Olympic Committee (USOC) Community Partners, including Chicago. The Chicago USOC Community Partnership (CCP) committee includes the Chicago Public Schools, the Chicago Park District, the Chicago Public Libraries, Burson-Marsteller,  and World Business Chicago. It is co-chaired by King Harris of Harris Holdings and Larry Wert of NBC Chicago.

Each year the USOC focuses on a unique Olympic value to showcase to youth around the country. In 2006, the Chicago USOC Community Partnership delivered the value of Fair Play to Chicago’s children and teens. This year, the CCP will focus on Sportsmanship.

While the Chicago 2016 team and various entities are working worldwide to promote our city to the international community, the Chicago USOC Community Partnership is working with Chicago’s youth to enhance excitement around the spirit and values of the games. Just recently, two Chicago high schools hosted CCP events which included appearances by Chicago’s Olympic and Paralympic athletes giving presentations on the Olympic value of Sportsmanship.  

Other 2007 USOC events include F.L.A.M.E.S. (Finding Leaders Among Minorities Everywhere in Sport) and the Junior Olympic Skills Competition. F.L.A.M.E.S. inspires minority high school athletes to foster their desire to succeed and rise above the ordinary level of expectations. Participants will include 50 high school athletes that will be nominated by a school administrator.

The Junior Olympic Skills competition will engage boys and girls between the ages of 8-13 to showcase their athletic ability in four sports: tennis, basketball, soccer, and track & field. The Chicago Public Schools and the Chicago Park District, in conjunction with a local YMCA and Boys and Girls Club, have agreed to host local competitions this May.

The unification of the CCP committee members, the generous pro bono services of Burson-Marsteller and the newest member, World Sports Chicago, is the truest example of Chicago public and private institutions coming together to make Chicago the best city to live, work and play.

For more information, visit the USOC online at www.usoc.org.


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Technology Convergence: NXTcomm '07 Chicago

NXTcomm, recognized as the premiere next-generation global forum and marketplace for the converging information, communications and entertainment technology industries opens at McCormick Place June 18. Running through June 21, it's jointly presented by the TIA and USTelecom.

In attendance will be 20,000+ industry professionals from over 100 countries. NXTcomm’s global marketplace will feature a floor of 450 exhibitors, all of whom provide the world’s most innovative communications, entertainment and information technology products and services.

Keynote Lineup
On scene at Chicago’s McCormick Place will be an all-star line up of communications and entertainment industry CEOs. Featured keynotes will be delivered by:

FCC
   
Kevin Martin 
Chairman 

AT&T
Ed Whitacre
Chairman and CEO

BellCanada
Michael Sabia
President and CEO

Cisco
John T. Chambers
Chairman and CEO
           
Motorola 

Ed Zander  
Chairman and CEO

Verizon Communications
Ivan Seidenberg
Chairman and CEO 

GE; NBC Universal
Bob Wright
Vice-Chairman, Executive Officer;
Chairman


“These CEOs are directly responsible for charting the course for the converging communications, entertainment and information industries,” says Wayne Crawford, Executive Director of NXTcomm.

International Buyers Program
Additionally, NXTcomm 2007 has been selected to participate in the U.S. Commercial Service's International Buyer Program (IBP), which recognizes the event's worldwide importance in the telecommunications industry. The IBP is a joint government-industry effort designed to stimulate U.S. exports by promoting major U.S. industry exhibitions to international markets. The IBP helps increase exports by increasing the number of international buyers visiting major U.S. trade exhibitions, providing U.S. firms likely to export with practical help and advice, and providing international buyers with opportunities to visit the United States and meet with prospective U.S. trading partners

Learn from Industry Experts
NXTcomm Conference Affiliates include the following:

ATIS (Service Provider/Carrier Conference)
BICSI (North-Central US and Canada Regional Meeting)
Digital Hollywood (Broadband, Mobile & IPTV Entertainment & Technology Conference)
FierceMarkets (WiMAX Conference)
IEC (Service Provider / Carrier Conference)
Stifel Nicolaus (Financial / VC Conference)
Telecommunications Magazine (IP Video Conference)
Wiley Rein (A Communications and TechLaw Conference)  

Registration
Register now by entering the access code: WBC7 which provides complimentary access to the exhibits and keynote sessions.

NXTcomm 2007
Conferences: June 18 – 21, 2007
Exhibits: June 19 – 21, 2007 
McCormick Place



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Chicago by the Numbers

 Indicator - MSA
Feb. '07
Jan. '07
Dec. '06
Feb. '06
Total Employment
4,455.9
4,446.6
4,572.9
4,413.7
     Total Private Sector
3,889.3
3,893.3
4,006.0
3,847.2
     Construction
196.1
197.5
214.3
197.7
     Manufacturing
481.9
480.9
485.9
489.0
     Transportation & Utilities
202.8
202.9
208.9
199.4
     Wholesale Trade
246.9
246.7
249.4
246.0
     Retail Trade
457.7
467.3
495.2
457.6
     Information
90.0
90.2
90.5
91.0
     Financial Activities
334.1
333.0
336.4
327.9
     Prof.& Business Services
715.4
715.1
742.4
698.7
     Education & Health Services
586.1
581.4
587.9
569.8
     Leisure & Hospitality
380.6
380.2
395.0
372.6
     Other Services
195.3
195.8
197.5
195.3
     Government
566.6
553.3
566.9
566.5
     Mining
2.4
2.3
2.6
2.2
Unemployment Rate
5.0
5.1
3.9
5.3
Midwest Housing Starts
244.0
255.0
236.0
360.0
Office Availability Rate
15.7
-
-
16.0
Office Net Absorption
384,646.0
-
-
136,781.0
Producer's Price Index
164.3
160.6
161.6
158.2
Consumer Price Index -U
205.3
202.4
201.8
198.7
Consumer Confidence
107.2
111.2
110.0
102.7
National Purchasing
     Managers Index
52.3
49.3
51.4
56.7
Chicago Purchasing

     Managers Index

47.9
48.8
51.4
56.7
Chicago Midwest
     Manufacturing Index
103.7
102.8
104.7
103.1
New Automobile Sales
5.1
5.2
5.6
5.4
New Truck Sales
7.7
7.5
7.2
7.8

Footnotes
The new Chicago MSA (metropolitan statistical area) consists of a fourteen-county, tri-state region: Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry, and Will counties in Illinois; Jasper, Lake, Newton and Porter counties in Indiana; and Kenosha County in Wisconsin. The office absorption and availability rate are 2005 & 2006 fourth quarter numbers for the downtown Chicago market. Data is from CB Richard Ellis. Net Absorption is the change in available space in square feet. Availability rate is space that is currently vacant or in the process of being marketed. Consumer confidence, automobile and truck sales are U.S. numbers. The Chicago Midwest Manufacturing Index is a monthly estimate of manufacturing output in the 7th Federal Reserve district (Illinois, Indiana, Iowa, Michigan, and Wisconsin). It is a composite index of sixteen manufacturing industries that use electrical power and hours worked data to measure monthly changes in regional activity. The employment, housing, and net absorption numbers are listed in thousandths.


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