This article is about Chicago 2050: A Plan for Economic Growth & Jobs. Learn more about the report and download at the Chicago 2050 landing page.
What is Chicago 2050?
Chicago 2050 is a two-phase plan for growth. Chapter One – the playbook unveiled this week – focuses on the next five years: where Chicago is strongest, where we can win, and what we can do now to grow jobs, investment, and confidence. Phase Two, launching later this year, will build on that foundation with bold, long-term investments that shape the Chicago of 2050.
“Chicago is winning more than it’s losing – and the fundamentals are strong. Chicago 2050 is a fact-based plan to grow our economy now, because responsible growth with an equity lens can solve some of our challenges.” Phil Clement, President & CEO, World Business Chicago.
The starting point: facts, not vibes
Chicago’s economy is big, diversified, and resilient. That diversification – no single sector over ~13% – helps us ride out shocks. We’re the nation’s leader in corporate expansions and relocations, supported by world-class transportation, a 5-million-strong workforce pipeline, and affordability that stretches talent and capital further. Cultural vibrancy isn’t a side note – in the Chicago 2050 playbook, it’s economic infrastructure that attracts people, firms, and investment.
“Chapter One is our data-driven playbook – built with input from 300+ leaders – that focuses on where Chicago has a right to win. Chapter Two will organize big, transformative investments to move the vision forward.” Hannah Loftus, EVP of Research, World Business Chicago.
Where we’ll compete—and win
We prioritized eight industry pillars where Chicago is specialized, growing, or strategically advantaged:
Manufacturing
Professional & business services
Transportation, distribution & logistics
Finance & insurance
Life sciences & healthcare
Digital tech & AI
Big bets (e.g., quantum, clean energy)
Vibrancy (arts, sports, entertainment, tourism)
ChiForward: Chicago’s strategy to compete for capital, not just companies.
ChiForward is the first – and deliberately catalytic – recommendation first out of the Chicago 2050 plan, a capital-attraction platform that will:
Build a public-facing Chicago Investment Prospectus of vetted, investment-ready projects,
Speed dealmaking by matching those opportunities with investors who can move quickly while helping them navigate approvals and local relationships, and,
Widen the circle so capital flows not only to marquee downtown developments but also to transformative neighborhood and industrial-corridor projects. It enhances (not replaces) WBC’s core business attraction and retention work, aligns with City Hall’s ease-of-doing-business push, and sets the pace for additional 2050 recommendations to follow.
“ChiForward is Chicago’s front door for capital. We’ll publish an investment prospectus, speed connections between investors and projects, and direct capital downtown and into neighborhoods – turning momentum into measurable growth.” Charles Smith, Vice Chair, World Business Chicago.
Proof of momentum
From the Quantum campus on the Southeast Side and the reimagined Thompson Center – soon to be Google’s Midwest hub and a defining landmark of Chicago’s tech future – to LaSalle Street’s office-to-housing conversions, the Chicago Fire’s new stadium, Navy Pier’s reinvention, and O’Hare’s massive modernization, Chicago is in motion. Chapter One channels this momentum into a focused growth strategy – one that residents, workers, and neighborhoods can feel.
Join Us in Building What’s Next
The work doesn’t stop here. Chicago 2050’s recommendations and strategies will continue to unfold—each initiative announced as it launches, each win shared as it’s secured. This is an all-in opportunity to shape Chicago’s next era of growth.
Know investors interested in Chicago? Connect us.
Know companies looking to expand, relocate, or start? Connect us.
Together, we’ll turn momentum into measurable impact.
Learn More
Explore the plan, the data, and the story behind Chicago’s next era of growth.
Op-Ed by Charles Smith & Phil Clement: A plan to lure investment to Chicago — not just companies
Crain’s Chicago Business: World Business Chicago reboots economic development strategy
Chicago 2050 Playbook: Download the full plan and strategy overview
Chicago by the Numbers: Explore the region’s annual economic performance report
Economic Dashboard: Track Chicago’s latest economic indicators in real time