In a new study, Cities of Opportunity: Business-Readiness Indicators for the 21st Century, Chicago emerged as an up-and-coming global city in a number of indicators, including cost and demographic advantages. The study, released by the Partnership for New York City and PricewaterhouseCoopers LLP, examined 11 major cities using nine indicators and 32 variables, such as broadband capacity, transportation infrastructure, diversity and working age population.

The study proclaimed, "While cities of opportunity share many characteristics, they are first and foremost global cities—that is, centers of global commerce. The reason is simple. Globalization is a juggernaut that will not be stopped."

Cities studied include Atlanta, Chicago, Frankfurt, London, Los Angeles, New York, Paris, Shanghai, Singapore, Tokyo and Toronto. The nine indicators are cost, intellectual capital, technology IQ and innovation, transportation assets, demographic advantages, financial clout, ease of doing business, lifestyle assets, and safety and security.

“At the beginning of the 20th century, benchmarks such as port capacity and manufacturing capabilities were the driving forces for success among global cities,” said Dennis Nally, U.S. Chairman and Senior Partner of PricewaterhouseCoopers LLP. “But we believe that new forces will drive a city's business competitiveness in this new century and our study examines those more modern and relevant assets. Interestingly, each of the cities in our study ranked at or near the top in one or more categories and no city dominated across categories. Civic leaders may want to seize the opportunity to capitalize on existing urban assets and invest in lagging areas.”

Added Charles Prince, Chairman and CEO of Citigroup and Co-Chair of the Partnership for New York City, “We define competitiveness and business readiness to determine which global cities are also cities of opportunity, that is, cities that not only are centers of commerce and investment but also magnets that draw companies engaging in global trade. In doing so, we came across some findings we expected, and some that surprised us.”

London, New York, Paris and Tokyo received the highest rankings in the areas of intellectual capital, transportation assets and financial clout, as one would expect of these cities.

In the areas of cost, ease of doing business, and demographic advantages, up and coming cities such as Atlanta and Toronto ranked near the top, as did Los Angeles, Chicago and Singapore.

PricewaterhouseCoopers' Mr. Nally added that the study can serve as a blueprint for cities around the world that want to compete with these established and emerging stars. "The study shows how the 11 cities stack up and where each of them may want to make investments. But it also shows others what they need to do to compete for business and to grow into Cities of Opportunity themselves. Established cities can’t rest on their laurels. Global demographic trends of population and GDP growth, as well as urbanization are working against them. In fact, a relative decline in global standing seems inevitable. Within this paradigm, ‘intangible’ assets such as those addressed in our study play an essential role in maintaining their competitive position.

World Business Chicago continues to interview Chicago business men and women to find out what they love about the city, where they take clients, and what improvements can be made for businesses. This month the CEO Spotlight is on Patrick G. Ryan, Jr., CEO of INCISENT Technologies.

How long have you lived and worked in Chicago? 
Most of my 40 years. I grew up on the North Side until Junior High when we moved to the suburbs. After seven years out East for school I moved back to Chicago and have been here for the 17 years since then. 

What area do you live in and why did you choose it? 
My wife, daughter and I live about a mile West of Wrigley Field, just off of Southport. We love our neighborhood because it is a community of families, yards and parks, yet nearby is the vibrancy of Southport with its neighborhood restaurants, shops, taverns & coffee shops as well as the classic Music Box Theatre. Southport has an authenticy and vibrancy that is uniquely Chicago.

When entertaining clients or business associates, where do you go? 
I love to take them to Tuscany on Taylor—world class food & drink, classic Chicago neighborhood. For breakfast or lunch its Wishbone on Washington.

What is the best thing about running a business in Chicago?  What needs improvement? 
The best thing about running a business in Chicago is the “can do” attitude of our people. While it can be challenging to be a tech company outside of a tech center, I am hopeful that with all of the burgeoning activity Chicago will be able to emerge as more of a tech center in the coming years.

Do you follow any pro sports teams? 
I am a hard core Bears fan—there’s no more of a loyal and passionate fan in all of sports. In most cities the Saturday Night Live SuperFan skit would be seen as offensive and demeaning—in Chicago we see it as a slightly over the top tribute to our passion for the Bears. 

Which of these do you utilize the most, and how: the City’s parks, libraries, museums, other? 
As the father of a 3-year-old, our weekends consist of trips to the Lincoln Park Zoo, as well as the Farm in the Zoo, the Shedd Aquarium, and the Museum of Science & Industry, while in the summer it's Navy Pier, the parks and—of course—eating at neighborhood street festivals. No city offers as much that all citizens, regardless of race or income, can participate in equally.