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Thread....the Top 100 Reasons to start or grow your business in @chicago
1Recently, 10 companies named Chicago to be their U.S. headquarters. Source: World Business Chicago Research Center (WBCRC)
2Chicago dominates the “Inc. 5000 Fastest Growing Companies 2020”
1Recently, 10 companies named Chicago to be their U.S. headquarters. Source: World Business Chicago Research Center (WBCRC)
2Chicago dominates the “Inc. 5000 Fastest Growing Companies 2020”
3. Chicago’s economy is ranked #21 globally by GDP, ahead of Poland, Sweden, and Belgium. Source: WBCRC, World Bank, Moody’s
4. Chicago is the #1 metro ecosystem for women-founded start-ups.
5. Chicago has highest concentration of female entrepreneurs in the U.S. Source: Inc
4. Chicago is the #1 metro ecosystem for women-founded start-ups.
5. Chicago has highest concentration of female entrepreneurs in the U.S. Source: Inc
6. Chicago is the largest food mfg sector in the country. Source: WBCRC, Moody’s
7. 400 food companies are headquartered here, up from 100 three years ago. Source: WBCRC
8. For the 8th consecutive year, Chicago ranked the #1 U.S. metro for corporate relocations & expansion
7. 400 food companies are headquartered here, up from 100 three years ago. Source: WBCRC
8. For the 8th consecutive year, Chicago ranked the #1 U.S. metro for corporate relocations & expansion
9. Consumer products giant, Kimberly Clark, recently announced plans to move its North American business hub from Wisconsin to Chicago creating 250 new jobs. Source: Crain’s
10. Chicago is the first U.S. city to have published an economic recovery plan. Source: City of Chicago
10. Chicago is the first U.S. city to have published an economic recovery plan. Source: City of Chicago
11. Chicago is identified as the #1 easiest city (population > 1M) to start a business. Source: DBNA
12. Operating a tech office in San Francisco costs 50 percent more than in Chicago. Source: CBRE
13. Chicago has lower labor costs and better value for doing business vs NY and LA
12. Operating a tech office in San Francisco costs 50 percent more than in Chicago. Source: CBRE
13. Chicago has lower labor costs and better value for doing business vs NY and LA
14. Chicago has over 1,200 certified minority-owned businesses. Source: City of Chicago Certified Firms Directory
15. 35 Fortune 500 companies are headquartered in Chicago. Source: Fortune 500
16. 32 S&P 500 companies are headquartered in Chicago. Source: Markets Insider
15. 35 Fortune 500 companies are headquartered in Chicago. Source: Fortune 500
16. 32 S&P 500 companies are headquartered in Chicago. Source: Markets Insider
17. Chicago is the #1 most-diversified economy of the largest ten U.S. metros. Source: Moody’s
18. More than 325 companies expanded in Chicago in 2020, and 40 have already expanded in 2021. Source: WBCRC
19. For 7 consecutive years, IBM ranked Chicago as the top U.S. city for FDI
18. More than 325 companies expanded in Chicago in 2020, and 40 have already expanded in 2021. Source: WBCRC
19. For 7 consecutive years, IBM ranked Chicago as the top U.S. city for FDI
20. Chicago is a Top 15 global start-up ecosystem. Source: Startup Genome Global Startup Ecosystem Report 2020
21. Since 2015, 21 Chicago-area companies have gone public. Source: Crain’s
22. Chicago startups have raised $2B since the start of 2021. Source: Crain’s
21. Since 2015, 21 Chicago-area companies have gone public. Source: Crain’s
22. Chicago startups have raised $2B since the start of 2021. Source: Crain’s
23. Chicago is home to 16 tech unicorns ($1B+ valuation). Source: WBCRC
24. ActiveCampaign & Cameo became Chicago’s two newest unicorns after raising $240M and $100M, respectively. Source: Crunchbase
25. Chicago is the #1 metro ecosystem for women-founded startups. Source: Genome
24. ActiveCampaign & Cameo became Chicago’s two newest unicorns after raising $240M and $100M, respectively. Source: Crunchbase
25. Chicago is the #1 metro ecosystem for women-founded startups. Source: Genome
26. Chicago enjoys the highest concentration of female entrepreneurs in the U.S. Source: Inc.
27. Chicago is the largest food manufacturing sector in the country. Source: Moody’s
28. Food entrepreneurship is on the rise. Today, there are 647 shared kitchen licenses, up from 432
27. Chicago is the largest food manufacturing sector in the country. Source: Moody’s
28. Food entrepreneurship is on the rise. Today, there are 647 shared kitchen licenses, up from 432
29. There are 66 national cuisines here, making us the 4th most diverse food scene in the world. Source: Forbes
30. Chicago features 2 of “Food & Wine’s” Top 10 coffee shops in the U.S.
31. Chicago is the second-largest transportation and logistics sector in US. Source: Moody’s
30. Chicago features 2 of “Food & Wine’s” Top 10 coffee shops in the U.S.
31. Chicago is the second-largest transportation and logistics sector in US. Source: Moody’s
32. Chicago has the 7th best urban transportation system in the world. Source: McK
33. O’Hare processes 1.8 million tons of freight valued at over $200 billion annually and is a leading U.S. port. Source: USA Trade
34. 6 of the 7 Class 1 railroads in U.S. run through Chicago
33. O’Hare processes 1.8 million tons of freight valued at over $200 billion annually and is a leading U.S. port. Source: USA Trade
34. 6 of the 7 Class 1 railroads in U.S. run through Chicago
35. In 2021, Chicago transportation management start-ups raised $341.3 million. Source: WBCRC, Pitchbook
36. For the last three years, Chicago has been home to the largest increase in life sciences VC funding of any U.S. city. Source; CBRE U.S. Life Sciences Report 2020
36. For the last three years, Chicago has been home to the largest increase in life sciences VC funding of any U.S. city. Source; CBRE U.S. Life Sciences Report 2020
37. Since the start of 2021, Chicago medical product start-ups have raised $359.5 million. Source: WBCRC, Pitchbook.
38. Chicago will deliver up to 5 million sq ft of new lab space to the city’s growing life sciences & healthcare innovation sectors. Source: City of Chicago
38. Chicago will deliver up to 5 million sq ft of new lab space to the city’s growing life sciences & healthcare innovation sectors. Source: City of Chicago
39. Chicago offers scalable life science lab space at the lowest cost and best value of most major life science markets; $26.43 in Chicago vs. $69.31 in Boston.Source: JLL
40. The number of lab tenants seeking space in Chicago has more than tripled since early 2019. Source: CBRE
40. The number of lab tenants seeking space in Chicago has more than tripled since early 2019. Source: CBRE
41. Chicago is home to two of the nation’s top 20 medical schools for research. Source: U.S. News
42. Bronzeville Lakefront development includes Chicago ARC Innovation Center, an equity-focused research arm of Israel’s renowned Sheba Medical Center. Source: SunTimes article
42. Bronzeville Lakefront development includes Chicago ARC Innovation Center, an equity-focused research arm of Israel’s renowned Sheba Medical Center. Source: SunTimes article
43. Chicago’s manufacturing industry employs 420,000 people with every subsector employing thousands. Source: WBCRC, Moody’s
44. Chicago has the second largest number of employees in manufacturing occupations in the nation, with 294,700 production workers. Source: BLS
44. Chicago has the second largest number of employees in manufacturing occupations in the nation, with 294,700 production workers. Source: BLS
45. At over 1.2 billion sq ft, Chicago has the largest industrial market in the U.S., with over 33 percent more inventory than the next largest market. Source: JLL
46. Chicago has the fourth lowest cost of manufacturing labor, beating Houston and New York. Source: BLS
46. Chicago has the fourth lowest cost of manufacturing labor, beating Houston and New York. Source: BLS
47. Illinois has $1.7 billion in machinery R&D, the second most in the U.S. Source: ISTC 2020 R&D Index
48. Illinois has $770 million in food R&D, the second most in the U.S. Source: ISTC 2020 R&D Index
49. Over 3M working-age adults live within a 50-minute commute of downtown
48. Illinois has $770 million in food R&D, the second most in the U.S. Source: ISTC 2020 R&D Index
49. Over 3M working-age adults live within a 50-minute commute of downtown
50. Chicago has the highest number of college grads among the seven largest U.S. cities. Source: WBCRC, U.S. Census
51. Chicago has 132 higher-education institutions, graduating over 123,500 students every year. Source: WBCRC, U.S. Census
51. Chicago has 132 higher-education institutions, graduating over 123,500 students every year. Source: WBCRC, U.S. Census
52. Chicago metro area universities produce the second most MBAs in the U.S. Source: IPEDS
53. Chicago metro area universities produce the fourth most engineering graduates in the U.S. Source: IPEDS
54. Chicago has two of the top fifteen law schools in the U.S. Source: U.S. News
53. Chicago metro area universities produce the fourth most engineering graduates in the U.S. Source: IPEDS
54. Chicago has two of the top fifteen law schools in the U.S. Source: U.S. News
55. Chicago has two of the top five business schools in the U.S. Source: U.S. News
56. Within a two-four hour driving radius of Chicago, there are three of the top ten engineering schools in the U.S. Source: U.S. News
56. Within a two-four hour driving radius of Chicago, there are three of the top ten engineering schools in the U.S. Source: U.S. News
57. Computer Science degrees awarded in IL have doubled over the past five years, making us the 2nd largest producer of Computer Science degrees in the U.S. Source: ISTC
58. Since 2010, the number of Computer Engineering degrees awarded in Illinois have tripled. Source: ISTC
58. Since 2010, the number of Computer Engineering degrees awarded in Illinois have tripled. Source: ISTC
59. Chicago’s tech talent production has grown nearly 30 percent over the last five years. Source: CBRE Scoring Tech Talent
60. Over two-thirds of start-ups founded at Illinois universities in the past five years remain active. Source: ISTC 2020 University Entrepreneurship
60. Over two-thirds of start-ups founded at Illinois universities in the past five years remain active. Source: ISTC 2020 University Entrepreneurship
61. One in three university-founded start-ups are in biotech or healthcare. Source: ISTC
62. Chicago is home to 12,300 tech companies, employing 344,000 people. Source: CompTIA
63. Chicago is home to 1871, the #1 Private Business Incubator in World
62. Chicago is home to 12,300 tech companies, employing 344,000 people. Source: CompTIA
63. Chicago is home to 1871, the #1 Private Business Incubator in World
64. Chicago is the #1 city for highest VC Multiple on Invested Capital, at 5.6 times. Source: Pitchbook
65. Chicago is the 2nd best data center market globally for investment and site selection. Source: Cushman & Wakefield 2021 Global Data Center Market Comparison
65. Chicago is the 2nd best data center market globally for investment and site selection. Source: Cushman & Wakefield 2021 Global Data Center Market Comparison
66. Chicago is ranked #1 for Foreign Direct Investment Strategy in transportation, distribution, and logistics. Source: FT
67. Chicago is home to nearly 900 foreign-based companies. Source: WBC
68. Chicago is home to large diplomatic community, representing 89 countries.
67. Chicago is home to nearly 900 foreign-based companies. Source: WBC
68. Chicago is home to large diplomatic community, representing 89 countries.
69. Chicago is home to almost 100 international and ethnic Chambers of Commerce and international trade-based organizations. Source: WBC
70. Chicago is a leading global city, with 29 Sister Cities around the world. Source: WBC
70. Chicago is a leading global city, with 29 Sister Cities around the world. Source: WBC
71. Chicago enjoys global strategic economic development partnerships with China, Japan, Mexico City, Mexico, London, England, Tel-Aviv, Israel, and Paris, France. Source: WBC
72. Chicago’s creative economy is robust, employing more than 250,000 people in over 37,000 businesses.
72. Chicago’s creative economy is robust, employing more than 250,000 people in over 37,000 businesses.
73. CPS offers seven of the state’s top ten public high schools. Source: U.S. News
74. Chicago is emerging as a global leader for quantum technology which includes Duality, the nation’s first-of-its-kind quantum startup accelerator
74. Chicago is emerging as a global leader for quantum technology which includes Duality, the nation’s first-of-its-kind quantum startup accelerator
75. Chicago is home to two out of five new National Quantum Information Science Research Centers by the US DOE
76. Chicago is one of the few cities in the U.S. to have local access to all three major global cloud services. Source: Cushman & Wakefield
76. Chicago is one of the few cities in the U.S. to have local access to all three major global cloud services. Source: Cushman & Wakefield
77. The UofC’s Polsky Center and Chicago Quantum Exchange launched Duality, the nation’s first accelerator program dedicated to quantum startups. Source: Chicago Quantum Exchange
78. In 2021, 3 cleantech companies, Volexion, LanzaJet and WeEnergies expanded in the Chicago region
78. In 2021, 3 cleantech companies, Volexion, LanzaJet and WeEnergies expanded in the Chicago region
79. Chicago offers more than 200 miles of bike lanes and 26 miles of open lakefront with separate bike and running paths. Source: City of Chicago
80. Hong Kong-based last-mile delivery company, Lalamove, recently named Chicago as its regional headquarters. Source: WBC
80. Hong Kong-based last-mile delivery company, Lalamove, recently named Chicago as its regional headquarters. Source: WBC
81. Toronto company, Salt Experiential Commerce, recently named Chicago to be its U.S. HQ. Source: WBC
82. Elements Global Services recently announced the move of its global HQ from Spain to Chicago. Source: WBC
83. Swedish tech company, InRiver, continues to expand Chicago HQ
82. Elements Global Services recently announced the move of its global HQ from Spain to Chicago. Source: WBC
83. Swedish tech company, InRiver, continues to expand Chicago HQ
84. Dutch cold storage firm, Newcold, recently named Chicago as its U.S. headquarters. Source: WBC
85. French heating filmmaker, ILO Tech, is expanding its Chicago presence with a West Side manufacturing facility. Source: WBC
86. Australian fintech co PractiFi expanding US HQ
85. French heating filmmaker, ILO Tech, is expanding its Chicago presence with a West Side manufacturing facility. Source: WBC
86. Australian fintech co PractiFi expanding US HQ
87. UK-based investment advisor M&G Investments recently named Chicago its new US HQ. Source: WBC
88. WM Reply selected Chicago as its U.S. HQ. Source: WBC
89. Solvd Health recently announced relocation of its corporate headquarters from Carlsbad, CA to Chicago. Source: Crain’s
88. WM Reply selected Chicago as its U.S. HQ. Source: WBC
89. Solvd Health recently announced relocation of its corporate headquarters from Carlsbad, CA to Chicago. Source: Crain’s
90. Talis Biomedical, which recently enjoyed an IPO, announced the relocation of significant operations from Silicon Valley to Chicago. Source: Real Estate Journal
91. Portal Innovations recently opened its Fulton Labs space, fueling life-science breakthroughs
91. Portal Innovations recently opened its Fulton Labs space, fueling life-science breakthroughs
92. Prysm Institute, an accelerator for healthcare, life science, and technology companies, recently launched in Chicago.
93. Danish Pharma firm, Orphazyme, recently named Chicago as its U.S. HQ
94. Paragon Biosciences continues to grow its portfolio in Chicago
93. Danish Pharma firm, Orphazyme, recently named Chicago as its U.S. HQ
94. Paragon Biosciences continues to grow its portfolio in Chicago
95. Evozyne, a molecular engineering start-up, continues to grow and expand in Chicago. Source: Press release
96. Xeris Pharmaceuticals moved its company from Texas to Chicago, and recently announced relocation of its R&D team from San Diego to Chicago. Source: Press release
96. Xeris Pharmaceuticals moved its company from Texas to Chicago, and recently announced relocation of its R&D team from San Diego to Chicago. Source: Press release
97. Chicago based Tempus announced it has raised $200M, becoming the world’s largest library of clinical and molecular data. Source: BuiltInChicago
98. In February 2021, homegrown financial firm, TastyTrade, was acquired for $1 billion. Source: Chicago Business Journal
98. In February 2021, homegrown financial firm, TastyTrade, was acquired for $1 billion. Source: Chicago Business Journal
99. Discover Financial Services committed to bringing 1,000 jobs to its Chatham call center inside a former big box store. Source: Press
100. Redevelopment is now underway for The Terminal, a Humboldt Park urban work campus for creatives located in an INVEST South/West community
100. Redevelopment is now underway for The Terminal, a Humboldt Park urban work campus for creatives located in an INVEST South/West community
101. Chicago will host Star Trek’s official convention at McCormick Place in 2022. Source: Sun Times
We are confident that there are so many more reasons why Chicago is a great place for business. If you have your own list of reasons or facts, not included here, email us:
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