Chicago Business Overview

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Horatio Underwood
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1 Chicago Business Overview Home to an unrivaled economy, workforce, and quality of life, Chicago is a thriving metropolis, yet a tight-knit community for business and residents. The city s dynamic character can be attributed to its people, its location and infrastructure, and its collaborative business and government community.

2 An Economic Force Chicago has one of the world s largest and most diversified economies, with 4.3 million employees and a gross regional product (GRP) of more than $480 billion. It is an efficient economic powerhouse that is home to more than 400 major corporate headquarters (28 Fortune 500) and two major global financial exchanges. The heart of a 14-county metropolitan area Home to 9.6 million residents, a population that has grown by 6% (+503,000 people) since million working-age adults are within a 50- minute commute of downtown Chicago Access to the World Centrally located, Chicago provides direct and nonstop service to more than 220 cities worldwide, has the second largest public transportation system in the US, is among the five largest container ports in the world, and serves as a hub for all six major North American railroads and six major U.S. interstates. Total Chicago MSA Population 9,602,177 City of Chicago 2,827,555 An Economy An Economy That that Rivals Rivals Nations Nations 3 CHINA *4, INDONISIA *540 LEGEND *GROSS PRODUCT ($US BILLIONS) 15 KOREA *833 2 JAPAN *5, AUSTRALIA * CANADA *1,336 1 UNITED STATES *14, MEXICO * CHICAGO *483 8 BRAZIL *1, SWITZERLAND * NETHERLANDS *792 6 U.K. *2,175 5 FRANCE *2,649 9 SPAIN *1, SWEDEN * POLAND *430 4 GERMANY *3,330 7 ITALY *2, BELGIUM 24 * AUSTRIA * NORWAY * TURKEY * RUSSIA *1,232 SAUDI ARABIA * INDIA *1,310

The heart of a 14-county metropolitan area Home to 9.6 million residents, a population that has grown by 6% (+503,000 people) since 2000 2.

3 A Global City Home to over 1,500 foreign-based companies, Chicago has long been a hub of international business activity. Chicago is a top U.S. city for foreign investment among major international cities, with more than $40 billion in foreign direct investment. International business resources include: 79 consulates/consuls general 30+ international chambers of commerce 100+ foreign-based trade organizations 28 international sister cities International Trade Total trade in the Chicago area has increased from $95 billion in 2004 to more than $128 billion in Global exports, led by medical & optical instruments, industrial machinery, and pharmaceutical products, totaled $32 billion, while imports including electric machinery, industrial machinery, and mineral fuel totaled $97 billion. Chicago Customs District Total Trade (US$ Billions) CHICAGO CUSTOMS DISTRICT 2009 TOTAL TRADE ($US BILLIONS) China $31.4 Canada $14.6 Japan $13.7 Korea $8.6 Germany $7.9 United Kingdom Netherlands France $4.6 $4.4 $5.4 EXPORTS IMPORTS

International business resources include: 79 consulates/consuls general 30+ international chambers of commerce 100+ foreign-based trade organizations 28 international sister cities International

4 Key Industries Chicago s economy thrives on a combination of mature (manufacturing and finance) and emerging (info-tech, research & development, and green energy) industries. Chicago consistently ranks in the Top 5 for GRP among 374 U.S. metro areas in the following traditional industries: Business & Financial Services Top 10 Global Financial Center (GCFI report, March 2010) and home to nearly 20% of global futures, options & derivatives trading activity Manufacturing Output (GRP) leader in electrical appliance, metal, plastics and rubber, food, machinery and paper product manufacturing Transportation & Distribution Major center of transportation and warehousing, with the third highest GRP in the U.S. Chicago is also a leader in a number of emerging industries including: Biotech Global leader in biomed tech transfer, the conversion of biomedical knowledge and research to marketable products Information Technology Most advanced communications exchange facility in the world providing cooperative interconnection point among numerous international advanced networks Green Energy Expanding home of 18 wind power companies and more buildings registered and certified by the US Green Building Council than any other city A Talented Workforce Education is one of the key drivers behind a highly skilled and diversified workforce, and Chicago s concentration of colleges and universities offer leading programs to prepare today s students for tomorrow s global opportunities. Two of the top business schools in the world 250+ corporate research and development facilities 96 Nobel Prize winners 65,000 students downtown #2 Best City to Get a College Degree among 60 global cities 36,000 bachelor s degrees, 30,000 master s degrees and 6,000 doctoral degrees awarded annually by 90 colleges and universities in the Chicago area

metro areas in the following traditional industries: Business & Financial Services Top 10 Global Financial Center (GCFI report, March 2010) and home to nearly 20% of global futures, options &

5 Quality of Life Chicago offers the amenities and opportunities of a global city, but maintains a high level of affordability and accessibility. There are 35 museums, more than 200 theater companies, dozens of destination retailers, more than 400 neighborhood festivals that showcase ethnic customs, music and food, and some of the top-ranked restaurants and hotels in the world. Chicago s low cost of living and doing business ensures you can enjoy more of what the city has to offer. Business Costs Tokyo San Francisco New York London Los Angeles Boston Paris CHICAGO Philadelphia Atlanta Toronto Cost of Living Cost of Living New York San Francisco Los Angeles Washinton D.C Boston Philadelphia CHICAGO Miami Detroit Atlanta Dallas Houston

top-ranked restaurants and hotels in the world. Chicago s low cost of living and doing business ensures you can enjoy more of what the city has to offer.

6 Chicago-China Business Facts The Chicago area is home to 30+ mainland Chinese-owned companies including: Goldwind North American HQ Wanxiang North American HQ Huawei Technologies BYD Xinhua office There are more than 300 Chicago-area companies with locations in China. There are nearly 7,000 business establishments owned by ethnic Chinese in the Chicago area. International Trade China is the Chicago area s largest global trade partner: Chicago Customs District Imports from China (2009) Total: US$28.6 billion Top Import Categories: Electric Machinery; Sound and TV Equipment Industrial Machinery, Including Computers Toys, Games & Sport Equipment Chicago Customs District Exports to China (2009) Total: US$2.8 billion Top Export Categories: Industrial Machinery, Including Computers Optic, Photo, Medical or Surgical Instruments Electric Machinery; Sound and TV Equipment

International Trade China is the Chicago area s largest global trade partner: Chicago Customs District Imports from China (2009) Total: US$28.

7 Relationships Consulate General of the People s Republic of China in Chicago U.S.-China Chamber of Commerce, U.S. HQ Shanghai and Shenyang Sister City relationships Reciprocal visits by Mayor Daley and Mayor Han of Shanghai, and 2008 Mayor Daley attended the Beijing Olympics, 2008, and the Shanghai World Expo 2010 Chicago was an Official Sponsor of the USA Pavilion at the Shanghai World Expo. World Business Chicago hosted a VIP reception for more than 150 guests, highlighting Chicago s presence in Shanghai. Mayor Daley cochaired a CEO Roundtable for U.S. and Chinese business leaders with retired Chinese Vice Minister of Commerce, Long Yongtu. Chicago s only foreign business office, the Chicago-China Economic Development Center (CCEDC) is located in Shanghai. Education Chicago Confucius Institute established in 2006, one of the first in the U.S. The Chicago Public Schools (CPS) system has more than 12,000 students learning Chinese the largest public school program in the U.S. 6,800 mainland Chinese students attend Illinois universities (China is the #1 place of origin for foreign students in Illinois) Shanghai is home to 643 alumni from DePaul University, Northwestern University, University of Chicago, Columbia College Chicago, University of Illinois Chicago, Illinois Institute of Technology and Loyola University Chicago. Mayor Daley welcomed many alumni (250+) to a reception in Shanghai during the Expo.

HQ Shanghai and Shenyang Sister City relationships Reciprocal visits by Mayor Daley and Mayor Han of Shanghai, 2004-2005 and 2008 Mayor Daley attended the Beijing Olympics, 2008, and the Shanghai

8 World Business Chicago 177 N. State St. Suite 500 Chicago, IL WorldBusinessChicago.com

Chicago s Business Climate

Chicago s Business Climate Home to an unrivaled economy, workforce, and quality of life, Chicago is a thriving metropolis, yet a tight-knit community for business and residents. The city s dynamic character