World Business Chicago
  WBC         
May 2008 :: Volume 43
Chicago by the Numbers



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Fast Company Names Chicago 'City of the Year'

Chicago is the 2008 U.S. City of the Year in the June issue of Fast Company magazine. The city was recognized for being a worldwide center of creativity that embodies economic innovation and opportunity. According to Fast Company, the city attracts the best and brightest, is a great place to work and live, and is bursting with diversity -- in race, in culture, and in business.

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First-Ever U.S. Poster Biennial Kicks Off

Jurors of First Chicago International Poster Biennial to Exhibit at IIT's Crown Hall: The Chicago International Poster Biennial Association (CIPBA), is a not-for-profit organization established to promote visual literacy, multiculturalism, and international cooperation through the work of poster designers from around the world.

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We = Business, Growth, Opportunity

WBC launches new marketing campaign; is recognized for outstanding work: World Business Chicago (WBC) launched its new marketing campaign, entitled "We = Business" in May. The program includes three different slogans: We = Business, We = Growth, and We = Opportunity, along with the tag line "Bringing Business to Chicago."

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Fast Company Names Chicago 'City of the Year'

Chicago is the 2008 U.S. City of the Year in the June issue of Fast Company magazine. The city was recognized for being a worldwide center of creativity that embodies economic innovation and opportunity. According to Fast Company, the city attracts the best and brightest, is a great place to work and live, and is bursting with diversity -- in race, in culture, and in business.

Fast Company editor, Bob Safian, announced the honor at a press conference, along with Mayor Richard M. Daley and Mike O'Halleran, Co-Chair of World Business Chicago and SEVP/Director of Aon Corporation.

Chicago was chosen City of the Year based on months of research by Fast Company's editorial team -- a global effort stretching from Beijing to Kigali, Rwanda. The publication consulted urban experts, analyzed economic data and consulted with cultural authorities in choosing the top city.

"Chicago stood out in our reporting for its creative energy and business vitality, for its effective sustainability programs and for the forward-looking efforts of its business and civic leaders," Safian said at the press conference.

"Chicago has an amazingly diverse economy and is a leader in virtually every area that matters to Fast Company: the environment, design, technology, finance, innovation," Safian added. "It has strong urban development initiatives and amazing educational resources." 
 
What makes Chicago "Fast"?  According to the story, Chicago's economy is growing faster than New York's or L.A.'s. The city is in the vanguard of creativity, from environmental policy (Chicago is a pioneer in urban greening) to politics (it's home to Barack Obama), architecture (Santiago Calatrava is redefining the form of the American skyscraper with his Chicago Spire), and music (house music was born here).

"Fast Company has been reporting on innovation, leadership and social responsibility since 1995. It's one of the most respected publications in its field, and that's why we're so pleased with this recognition," said Chicago Mayor Richard M. Daley.  

"I believe the essential idea on which cities must base their strategies for moving forward is simple: they must improve the quality of life for all their residents."

"If a city's actions are aimed at that goal, if people work hard and work together, then that city will be a vibrant place that almost by definition creates the conditions for a thriving economy."

In addition to Chicago, London England was named Global City of the Year. The 2008 Cities to Watch include:

-- Seattle, WA
-- Beijing, China
-- Hyderabad, India
-- Orlando, FL
-- Mexico City, Mexico
-- Kigali, Rwanda
-- Calgary, Canada
-- Moscow, Russia
-- Barcelona, Spain
-- Kansas City, MO
-- Doha, Qatar
-- Abu Dhabi, United Arab Emirates
 
More about this year's Fast Cities is available in the June issue, on newsstands May 20 - July 1, or online at www.fastcompany.com/.


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First-Ever U.S. Poster Biennial Kicks Off

Jurors of First Chicago International Poster Biennial to Exhibit at IIT's Crown Hall

The Chicago International Poster Biennial Association (CIPBA), is a not-for-profit organization established to promote visual literacy, multiculturalism, and international cooperation through the work of poster designers from around the world. The CIPBA is the founding organization for the first-ever Chicago International Poster Biennial.

The international poster "biennial" is a well-known event around the world, but this will be the first of its kind, endorsed by the International Council of Graphic Design Associations (icograda), to be held in the United States.

"Chicago is an ideal location for this unique event," says CIPBA President, Lance Rutter. "While Chicago is well known for its architecture, fine art, public gardens, sculpture, and other art and design disciplines, there is a lack of applied visual art in public spaces. As part of a larger design community, we also want to help the City of Chicago craft its international reputation as a proponent of international cooperation and communication -- and as a strong civic advocate of design."

Jury members of the 2008 CIPB are some of the most lauded poster designers in the world, and they include masters from Japan, France, Canada, Israel, Mexico, and the United States. The CIPBA recently announced that works of the jury will be featured in an exhibition and will be on display to the public from June 8-10 at Crown Hall, the landmark Mies van der Rohe building on the campus of IIT.

The poster collection will then travel to O'Hare's Terminal 5, where it will be on display to international travelers for six months. A private gala opening will be held on Saturday evening, June 7, with all 11 internationally renowned juror-designers in attendance.

During their stay in Chicago, the jurors will be considering the merits of an estimated 2,000 poster entries received from dozens of countries. Each poster will be judged on its communication and artistic merits relative to its subject matter, since no subject categorization will be used. One-hundred finalists will be chosen by the jury, including one gold medalist and two additional medals of honor recipients.

A tentative date of September 15, 2008 has been set for the public opening of the Biennial, which is planned for installation in Daley Bicentennial Plaza, adjacent to Millennium Park.

To RSVP for the gala contact Aude Charmetant, Project Coordinator, at 312-494-5250 or email at aude@legendrerutter.com. There is a $20 suggested donation at the door.

For more information on the Chicago International Poster Biennial contact Lance Rutter, CIPBA President, at 312.494.5250 or email at lance@legendrerutter.com.


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We = Business, Growth, Opportunity

WBC launches new marketing campaign; is recognized for outstanding work

World Business Chicago (WBC) launched its new marketing campaign, entitled "We = Business" in May. The program includes three different slogans: We = Business, We = Growth, and We = Opportunity, along with the tag line "Bringing Business to Chicago." The campaign, created pro-bono by Downtown Partners Chicago, kicks off with 50 taxi-top signs in Chicago from May until the end of the year. 

The marketing campaign aims at increasing WBC's brand awareness among senior-level business executives based in, or traveling to, Chicago. It also intends to provide a clear, concise explanation of the services WBC can provide.

"We are positioning World Business Chicago so that we are top of mind when executives are making location decisions," said Rita Athas, Executive Director of World Business Chicago. "We want to make sure that Chicagoans and visitors doing business here know the wide range of resources we can provide, whether it is our comprehensive research on the local economy, or our expertise in navigating the site selection process."

In June the messaging will extend to City Information Panels in the Loop, digital outdoor network billboards on the Dan Ryan, Kennedy, Edens, Stevenson, and I-80 expressways (donated by Clear Channel Outdoor), with news racks and airport signage following in October. 

Print advertising will begin in August's Hemispheres Magazine (the United Airlines in-flight publication); the September issue of Chicago Mercantile Exchange's Magazine CME will also feature a full-page advertisement.

World Business Chicago Gets Recognized
Site Selection Magazine -- Top Economic Development Group

In addition, World Business Chicago recently announced that it was named a Top Economic Development Group in the country by the "industry scoreboard" for economic development, Site Selection Magazine. 

The May issue cited WBC's ability to attract and retain business in the Chicago metro area, in turn creating jobs. This is the third consecutive year the honor was bestowed on World Business Chicago.

"Mayor Daley created World Business Chicago nine years ago, as a unique partnership between the city and the business community and we are honored to be recognized," said WBC Executive Director, Rita Athas, in response to the award. "The mayor's leadership, along with an engaged business community and the ultimate product -- a city with one of the most diversified economies, talented labor pools and an unmatched quality of life -- have allowed World Business Chicago to attract and retain considerable direct investment in the metro area."

BMA Tower Award - Gold
World business Chicago recently received the BMA (Business Marketing Association) Gold Tower award, Chicago's premier business-to-business marketing award, for its digital media project, "Cooler by the Lake."

The CD, created to attract young talent to the city, and distributed to corporate recruiters and at career fairs throughout the country, won first place in its category: Multimedia/Computer-based Presentations.

The interactive media, developed by Gameplan Creative, highlights Chicago's benefits as a thriving business community with an outstanding quality of life through dynamic visuals and extensive information about the city, all set to a soundtrack of Chicago-based bands.

Horizon Interactive Award - Silver
"Cooler by the Lake" also won a silver Horizon award in the public service category. The prestigious international competition recognizes outstanding achievement among interactive media producers from around the world.

For more information about the recognitions above, or more information about World Business Chicago, visit www.worldbusinesschicago.com.


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Chicago by the Numbers

 Indicator - MSA
Mar. '08
Feb. '08
Jan. '08
Mar. '07
Total Employment
4,505.8
4,480.8
4,479.6
4,489.7
     Total Private Sector
3,930.6
3,908.9
3,917.6
3,918.6
     Construction
195.3
188.7
194.4
199.5
     Manufacturing
479.6
478.9
480.2
484.0
     Wholesale Trade
248.9
248.2
247.7
248.7
     Retail Trade
473.4
470.7
480.3
466.6
     Transportation & Utilities
203.2
202.2
201.6
202.7
     Information
91.3
91.1
90.6
90.2
     Financial Activities
325.4
325.3
325.6
329.3
     Prof. & Business Services
724.8
722.3
720.7
721.0
     Education & Health Services
599.3
597.6
593.5
588.8
     Leisure & Hospitality
390.1
385.3
384.3
387.7
     Other Services
197.1
196.4
196.5
196.9
     Government
575.2
571.9
562.0
571.1
     Mining
2.2
2.2
2.2
2.4
Unemployment Rate
5.6
5.7
5.8
4.5
Midwest Housing Starts
126
130
180
238
Office Availability Rate
11.4
-
-
13.0
Office Net Absorption
-202,688
-
-
668,058
Producer's Price Index
175.8
173.9
173.3
164.4
Consumer Price Index -U
213.3
212.6
212.5
205.1
Consumer Confidence
65.9
76.4
87.3
108.2
National Purchasing
     Managers Index
48.6
48.3
50.7
50.7
Chicago Purchasing
     Managers Index
48.2
44.5
51.5
61.7
Chicago Midwest
     Manufacturing Index
107.6
108.4
109.2
104.4
New Automobile Sales
4.9
5.0
5.1
5.1
New Truck Sales
6.2
6.7
6.7
7.2

Footnotes
The 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 employment, housing, and net absorption numbers are listed in thousands. The unemployment rate for March 2008, Midwest housing starts, and Producer Price Index figures are preliminary only. The office absorption and availability rate are 2008 first 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.


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World Business Chicago
177 N. State Street, Suite 500
Chicago, Illinois 60601
www.worldbusinesschicago.com