2017 Annual Report 1
LOCAL IMPACT GLOBAL REACH
2017 ANNUAL REPORT
DRAFT LAST MODIFIED July 31, 2018 9:31 AM WHO WE ARE HOW WE DO IT World Business Chicago is Chicago’s public-private economic ACTIVATING LOCAL IMPACT development agency. BUSINESS DEVELOPMENT OUR MISSION Promoting Chicago’s talent, technology, transportation, infrastructure, housing, and cultural resources to Our mission is to drive inclusive economic growth and job companies across the nation and globe. creation, support business, and promote Chicago as a leading global city. NEIGHBORHOOD & STRATEGIC INITIATIVES Promoting Chicago’s neighborhood strengths as sites for business location and expansion. OUR VISION Our vision is to ensure that all Chicagoans prosper. CHICAGONEXT Dedicated effort to advance Chicago’s tech ecosystem, and build a strong platform for inclusive growth in WHAT WE DO Chicago’s innovation economy. AMPLIFYING GLOBAL REACH WE DRIVE GROWTH through business recruitment, expansion, and retention GLOBAL STRATEGIC INITIATIVES assistance and connecting businesses to resources Attracting foreign investment and facilitating joint ventures, and opportunities. partnerships, and intergovernmental agreements. CHICAGO SISTER CITIES INTERNATIONAL WE UNITE LEADERS Celebrating cooperation and understanding through citizen diplomacy – 28 sister cities, 600+ volunteers, to advance growth in Chicago’s neighborhoods through global relationships. talent development, procurement, and investment.
WE CHAMPION CHICAGO as a world-class city through building strategic international partnerships, convening policy makers and leaders, and advancing opportunities for multicultural engagement.
World Business Chicago is a 501(c)(3) non-profit organization and donations are tax-deductible to the full extent of the law. Tax I.D. 36-4313685. CC Flickr Brian Koprowski, by Chicago” “I Love Photo: 2017 Annual Report 3 TABLE OF CONTENTS
Letter from the Chairman 4 Letter from the Vice Chairman and the President and CEO 5 A Quick Look Back: A Snapshot of WBC Milestones 6-7
ACTIVATING LOCAL IMPACT 8 BUSINESS DEVELOPMENT 9 New & Expanding Companies 10-11 Why Chicago? 12 Case Study: Securing a Growing HQ 13
NEIGHBORHOOD & STRATEGIC INITIATIVES 14 Workforce Programs 15 Chicago Anchors for a Strong Economy (CASE) 16 Launched Program Updates 17
CHICAGONEXT 18 Chicago Venture Summit 19 ThinkChicago 19 Blackstone Inclusive Entrepreneurship Challenge 20 Case Study: A New Life 21
AMPLIFYING GLOBAL REACH 22 GLOBAL STRATEGIC INITIATIVES 23 Overview & Partnerships 23 Global Strategic Initiatives Events 26
CHICAGO SISTER CITIES INTERNATIONAL (CSCI) 27 CSCI Program Highlights, Event Highlights, & Awards 28 Case Study: Full STEAM Ahead 29 Chicago Consular Corps Gala 30
Fellowship Program 31 Financials 32 Supporters 33 Acknowledgments 34-39 Photo: “Flamingo x2” by Chris Smith, CC Flickr “Flamingo x2” by Photo: 4 World Business Chicago
LETTER FROM THE CHAIRMAN MAYOR RAHM EMANUEL
From our city’s increased job creation and economic growth to our 28 international sister cities. Chicago also had the distinction of our continued distinction in corporate relocations and foreign hosting the North American Climate Summit in 2017, inviting more investment, 2017 was another strong year for Chicago’s role as a than 50 mayors from around the world to articulate and reinforce leading global city. their commitments to fighting climate change by signing the Chicago Climate Charter. The development work we have been doing at the local, neighborhood level complements the economic relationships we continue to build As you will find in this report, our local and international efforts with our national and international business partners. Through these are making a difference for our city’s people, businesses and efforts over the past year, Chicago was again named the #1 U.S. metro neighborhoods, and strengthening Chicago’s global leadership. for corporate relocations and expansions1 and the #1 North American Sincerely, metro for foreign direct investment for five consecutive years.2
Most importantly, the opportunities resulting from the inclusive economic development efforts of World Business Chicago and our public and private partners are extending outward from Chicago’s Rahm Emanuel Mayor, City of Chicago central business district and into our neighborhoods, supporting Chairman, World Business Chicago increased job creation and economic sustainability for people and families. Jobs in Chicago’s private sector have grown nearly 17 percent over the past seven years, with the south, west-central and north sections of the city all past or near their 2001 employment levels.3 Through WBC’s focus on making a local impact through neighborhood development, small- and medium-sized business support and workforce development, I’m confident that these numbers will continue to grow.
Chicago’s success is also strengthening our global reach and 1. Bruns, Adam. "Top Metros 2017." Site Selection Magazine. March 1, 2018. Accessed March 22, 2018. https://siteselection.com/issues/2018/mar/top-metros-2017-repeat-defenders.cfm. international partnerships. Chicago Sister Cities International, an 2. "Global Locations Trend 2017 Annual Report." IBM. August 28, 2017. Accessed March 22, 2018. https://www-01.ibm.com/common/ssi/cgi-bin/ssialias?htmlfid=GBE03868USEN. initiative of WBC, won the Best Overall Program Award from Sister 3. "Where Workers Work 2017." Illinois Department of Employment Security. December 1, 2017. Cities International in recognition of the relationships we hold with Accessed March 22, 2018. http://www.ides.illinois.gov/LMI/Pages/Where_Workers_Work.aspx. 2017 Annual Report 5
LETTER FROM THE VICE CHAIRMAN AND THE PRESIDENT AND CEO MICHAEL SACKS AND ANDREA ZOPP
Thanks to the generous support of our board, sponsors and partners, ChicagoNEXT continues building a strong platform for inclusive 2017 was another successful year for World Business Chicago. growth in Chicago’s innovation economy. From our business development efforts and international outreach, WBC has also been integral to amplifying Chicago’s global reach in to our neighborhood initiatives, entrepreneurship, and innovation 2017. From attracting foreign investment, facilitating partnerships programs, we are working to realize our vision to ensure that all and intergovernmental agreements such as with Tel Aviv-Yafo; to Chicagoans prosper. hosting international delegations, and convening government, civic As you will see in this report, our work in business development - and business leaders on issues of global importance through the which has been WBC’s central focus since we were founded in 1999 North American Climate Summit, WBC continues to advance the - continued to exceed our previous annual averages for projects, city’s global strategy to promote Chicago as a leading global city. wins and jobs in 2017. Drawn by Chicago’s exceptional pool of None of these accomplishments would have been possible without talent, affordability and world-class quality of life, companies such the support of our board, sponsors, partners, and world-class teams as Hickory Farms, Nielsen, West Monroe Partners, Trustwave, and at WBC. We appreciate your engagement with our 2017 annual many more, are making Chicago their new and expanded home. report and look forward to another strong year ahead. As a continuation of our efforts to advance Mayor Emanuel’s Plan Sincerely, for Economic Growth and Jobs, we continue to advance our work across neighborhood and strategic initiatives (NSI). We’ve honed our focus on neighborhood development, small- and medium-sized business support and workforce development, and collaborated on the City of Chicago’s active efforts already driving growth and Michael J. Sacks Andrea Zopp investment in our neighborhoods. Vice Chairman President and CEO
Chicago Anchors for a Strong Economy (CASE) expanded its anchor network to 16, making it possible for nearly 100 CASE- qualified businesses to gain access to contract opportunities that will support neighborhood vitality. And through our tech and innovation programs, including the Blackstone Entrepreneurship Challenge, ThinkChicago and the Chicago Venture Summit, 6 World Business Chicago
A QUICK LOOK BACK A SNAPSHOT OF WBC MILESTONES
Chicago Sister Cities International (CSCI) merged with WBC (p.27)
Organized by WBC, a first- of-its-kind MOU was signed between the City of Chicago and Mexican government economic development arm, ProMexico
Launched programs & initiatives: Organized by WBC, Mayor Emanuel joins China’s Minister of Program launched (p.19) Commerce and leadership from eight major Chinese cities to sign WBC launches web-based Gateway Cities Agreement location mapping tool, Site Selector
2011 2012 2013 2014
Launched programs WBC helped coordinate the winning bid to launch the Digital & initiatives: Manufacturing and Design Innovation Institute (DMDII) Launched programs Plan for Economic Growth and Jobs & initiatives: (Plan) officially launched WBC created its Legal Advisory Board with representatives WBC Fellowship Program launched (p.29) (p.16) (p.19) from prominent law firms and general counsel representation of Board Member companies WBC led efforts to host NATO Summit, the (p.18) world platform for leaders to collaborate WBC helped organize the 25th U.S.-China Joint Commission and address global challenges, in Chicago (p.17) on Commerce and Trade (JCCT), the forum for addressing trade issues and promoting business opportunities between the US and China
Chicago receives “Top Metro” Award for Corporate Relocations and Expansions from Site Selection magazine 2017 Annual Report 7
launched (p.20)
Chicago awarded the #1 ranking in FDI strategy in North America and #3 in the world by FDI Magazine in 2017
Chicago receives “Top Metro” Award for Corporate Relocations and Expansions – Fourth year in a row
Launched programs & initiatives: Seven collaborative agreements signed between partners in Chicago and Israel
WBC helped host the C40 Mayors Summit: 40+ global mayors, (p.15) where Chicago & Paris announced they would host a “global mayors’ forum on urban waterfront redevelopment” Chicago receives “Top Metro” award for Corporate Relocations and Expansions – WBC helped host the North American Climate Summit: 60+ mayors Second year in a row and senior municipal government officials from across the world met to discuss how cities can implement the Paris Agreement, culminating in the signing of the Chicago Climate Charter
2015 2016 2017
Launched programs & Chicago receives WBC helped WBC helped ChicagoMADE initiatives: “Top Metro” Award coordinate former coordinate London debut at Hong Kong for Corporate Italian PM, Matteo Mayor Sadiq Khan Business of Design Relocations and Renzi visit to visit in Chicago on a Week, showcasing Expansions – Third Chicago, included tech trade mission ChicagoMade: Great (p.17) year in a row ribbon cutting at Ideas of Humanity new bi-lingual Italian Chicago – London Exhibition school in Wicker Park, City Data Alliance Fermilab visit, and MOU signed panel discussion at University of Chicago Chicago’s neighborhoods Advancing inclusive growth for LOCAL IMPACT ACTIVATING 8 WorldLocal Impact BusinessChicago *since 2011 Corporate Relocations & Expansions* 350+ **2011-2016 Jobs Created & Retained* #1 U.S. Metro for Corporate Relocations & Expansions, Five Consecutive Years TOP 10 Innovation & TechInnovation 70,000 Hub in the World GDP Growth** 19.4%
Photo: “Chicago Plate 081” by David Harmantas, CC Flickr Local Impact 9
BUSINESS DEVELOPMENT OVERVIEW
World Business Chicago’s strong relationships, comprehensive site selection Tech-sector HQ relocations, expansions and jobs also increased in services and proactive promotions made 2017 another strong year for business Chicago in 2017, reflecting broader economic growth trends in the tech development in Chicago. and innovation sector.
Chicago’s diversified economy, where no industry accounts for more than Many of Chicago’s homegrown startups, including Peapod, G2 Crowd, Sprout 15 percent of our gross regional product (GRP), remained a key strength Social, and SMS Assist added hundreds of new employees. West Coast tech for business attraction in the region throughout the year. Major project wins businesses have been expanding in Chicago as well, with companies such as represented a cross section of the city’s top employer sectors, including Amazon and Facebook committing to double, triple or quadruple their Chicago companies such as West Monroe Partners and KPMG, collectively adding footprints in the coming years. 1,000 jobs in professional and business services, and First Midwest Bank, in the financial sector, moving their HQs and 300 jobs to Chicago.
2017 IMPACT
73 11,685 $2.1b 23 Regional Headquarter Regional Projects Jobs Created & Retained Invested Relocations & Expansions 10 Local Impact 368 NEW & EXPANDING COMPANIES IN 2017
I t t L a m ppl ompa cc l t ta m t cc omm t alt t o ap I t po t I ac I o a ll ompa p a po t a l a l c cco a to cc at a t t o ct ampa a tal m I c a c o c pt La ocat I a t ama I t al c olo llo ompa L t ll La o a alt a I I t I p c alt alt l lato l a L t o t m ll l Lawrence Screw Products, Inc. | Leopardo | Level Office | Levio | Local 881 | London & Partners | Lone Mountain Truck | ll a t I a c ll tat I a c ompa ma o m ca oll o alt ca c t m ca a l L a Lo o t ct o L t a omm cat o a c oo po t t Lt a tplac a ac a m ca l m ca Lo la t c m o c m o oo m ta alt m a lo Mars Food | Mauser | McCain Foods | MCP | Mediafly | Mega Polymers | Menasha Packaging | Metalex | Michel's | o o o pollo lo o t ol ppl t l c c o ct Lo t c t alla o c o t m a o a oo t a o l ct c o a a o o t ct o a l m m tla a c al tla tt tla I ca t to a at co a a cal at o al p at o t a a c al oo pla ol t o a o a Lo t c a o m ca a ol al oc a ac a a o a co ap tal a t l al c LL p a t atc t a t I c t oo t t o c ol pla o p l t l t l m I t o la t lac o a l p a t o l l o o ol o t o t la I c o t t o p o co o a a po tat o t m o ol a m o o t m ca o po at o ta o t ta o p al t al o a lo t amc a t ap a | Odyssey Logistics | Office Depot | Okabe Co., Inc. | Olam | Old World Industries | Opportunity Loans | Orange Crush | ol t o a o a t at p lla amp o Lo t c o p a l I t ca o l c t a t am tcom alt t omot o o lot ac ma t ac a o po at o o l a at ap I ompa ol t o LL ol m a oo omm cat o t I c I m ca a t o o apo o m c m t lo al Lo t c acl t I c tc o o c pt La o ato o ol at a o t act I tallat o o o c o c pt o c la t o a ol o m o ct o m ca alt c c c o La o ato t al t o a t o t c at a l a l a a m ca I co po at Metal Products | Priority Wire & Cable | Pritzker Realty Group | Project Cure | Pure's Food Specialties | Quantum Precision | amco a t o ta a ll ac a L amo l l ac a tal alt a l a LL L t a co al alt oo lat t ol t o a to o o pac t t o I t at o al m t la t c o m cal o a l oo o l l a o ol c ll t p oa a po tat o oca l a t p a o al a act ompa I c l t l L l a a act o a I t at o al m l I ct a alco o ct alt lat am a o o p c a c Lo t c c ool alt o I t at o al a po t I c p to I t at o al ac oo a ma a mL a op o m I c al o m l t a c LL l oa c olo I c t o c l o ct t t a o ta o p ta a cat l at pp a o p l p I o at o LI t ap t pac p c al t omot o p o t oc al oc lopm t o mo t o p o t am to a o t L t o t ol t tal t a l a tama ac a o mm t o p p al I c to a t a I t at o o la a la ol t o lo t c tc oa ppa at I m t mat c c t c ot lla p at o I c I t at o al Lt o o Lo t c o LL ol ta a a I c a a o at m ca I a c Climate Corporation | The Duchossois Group, Inc. | The Hatchery | Thermoflex | Tiesta Tea | Toyo Business Engineering | Great Wolf Resorts | Greco & Sons | Griffith Foods | Grunt Style LLC | Guaranteed Rate | Gypsum Supply Company | H.B. o oo t a pa t Lo t c t alt ca t a po tat o al c ap tal a lo ompa a o l a o o m ca a o t t a m ll a a c La l p o a a po tat o o a to a al t t o o a al Lo t c lm o p oc ompa c o a m ll om olo om o m l oo at t c o po at o ma o ct l am t o o a t LL o ol oo o o la I a c o p I c o o p Iam a I o l t Ill o L t pm t a t t t t a c al o p oo la oo o l op o ct I t Ill o o a oc at o a a I t o I am c oI oco I t at o al ac at I t at o al p t Lo t c Lo t c 3682017 AnnualLocal ImpactReport 11
I t t L a m ppl ompa cc l t ta m t cc omm t alt t o ap I t po t I ac I o a ll ompa p a po t a l a l c cco a to cc at a t t o ct ampa a tal m I c a c o c pt La ocat I a t ama I t al c olo llo ompa L t ll La o a alt a I I t I p c alt alt l lato l a L t o t m ll l Lawrence Screw Products, Inc. | Leopardo | Level Office | Levio | Local 881 | London & Partners | Lone Mountain Truck | ll a t I a c ll tat I a c ompa ma o m ca oll o alt ca c t m ca a l L a Lo o t ct o L t a omm cat o a c oo po t t Lt a tplac a ac a m ca l m ca Lo la t c m o c m o oo m ta alt m a lo Mars Food | Mauser | McCain Foods | MCP | Mediafly | Mega Polymers | Menasha Packaging | Metalex | Michel's | o o o pollo lo o t ol ppl t l c c o ct Lo t c t alla o c o t m a o a oo t a o l ct c o a a o o t ct o a l m m tla a c al tla tt tla I ca t to a at co a a cal at o al p at o t a a c al oo pla ol t o a o a Lo t c a o m ca a ol al oc a ac a a o a co ap tal a t l al c LL p a t atc t a t I c t oo t t o c ol pla o p l t l t l m I t o la t lac o a l p a t o l l o o ol o t o t la I c o t t o p o co o a a po tat o t m o ol a m o o t m ca o po at o ta o t ta o p al t al o a lo t amc a t ap a | Odyssey Logistics | Office Depot | Okabe Co., Inc. | Olam | Old World Industries | Opportunity Loans | Orange Crush | ol t o a o a t at p lla amp o Lo t c o p a l I t ca o l c t a t am tcom alt t omot o o lot ac ma t ac a o po at o o l a at ap I ompa ol t o LL ol m a oo omm cat o t I c I m ca a t o o apo o m c m t lo al Lo t c acl t I c tc o o c pt La o ato o ol at a o t act I tallat o o o c o c pt o c la t o a ol o m o ct o m ca alt c c c o La o ato t al t o a t o t c at a l a l a a m ca I co po at Metal Products | Priority Wire & Cable | Pritzker Realty Group | Project Cure | Pure's Food Specialties | Quantum Precision | amco a t o ta a ll ac a L amo l l ac a tal alt a l a LL L t a co al alt oo lat t ol t o a to o o pac t t o I t at o al m t la t c o m cal o a l oo o l l a o ol c ll t p oa a po tat o oca l a t p a o al a act ompa I c l t l L l a a act o a I t at o al m l I ct a alco o ct alt lat am a o o p c a c Lo t c c ool alt o I t at o al a po t I c p to I t at o al ac oo a ma a mL a op o m I c al o m l t a c LL l oa c olo I c t o c l o ct t t a o ta o p ta a cat l at pp a o p l p I o at o LI t ap t pac p c al t omot o p o t oc al oc lopm t o mo t o p o t am to a o t L t o t ol t tal t a l a tama ac a o mm t o p p al I c to a t a I t at o o la a la ol t o lo t c tc oa ppa at I m t mat c c t c ot lla p at o I c I t at o al Lt o o Lo t c o LL ol ta a a I c a a o at m ca I a c Climate Corporation | The Duchossois Group, Inc. | The Hatchery | Thermoflex | Tiesta Tea | Toyo Business Engineering | Great Wolf Resorts | Greco & Sons | Griffith Foods | Grunt Style LLC | Guaranteed Rate | Gypsum Supply Company | H.B. o oo t a pa t Lo t c t alt ca t a po tat o al c ap tal a lo ompa a o l a o o m ca a o t t a m ll a a c La l p o a a po tat o o a to a al t t o o a al Lo t c lm o p oc ompa c o a m ll om olo om o m l oo at t c o po at o ma o ct l am t o o a t LL o ol oo o o la I a c o p I c o o p Iam a I o l t Ill o L t pm t a t t t t a c al o p oo la oo o l op o ct I t Ill o o a oc at o a a I t o I am c oI oco I t at o al ac at I t at o al p t Lo t c Lo t c 12 Local Impact
WHY COMPANIES CHOOSE CHICAGO
TALENT & ECONOMIC GLOBAL INNOVATION STRENGTH CONNECTIVITY Chicago is a global hub for top talent and Chicago has the most diversified economy Chicago connects you world-changing ideas of any U.S. city and a GRP that rivals nations to the world
Ranked number one in No industry accounts for more than 38.5% foreign direct investment for of residents over age 24 hold a 15% GRP bachelor’s degree FIVE consecutive years That’s the highest out of the five largest U.S. cities 145K+ JOBS Added since 2011 as a result of our 1800 $100B 840,000 diversified economy foreign-based in foreign direct graduates in the metro area companies investment and the top destination for Midwest and Big Ten talent
77 150 NEIGHBORHOODS QUALITY 62 600 Neighborhoods Languages & COMMUNITIES OF LIFE Museums Parks $1,695 Chicago’s diversity, affordability and Chicago isn’t just a great city for business; 19,000 Median Rent in Metro Area resilience make us strong it’s a place where you can build a life Restaurants Local Impact 13
CASE STUDY: SECURING A GROWING HQ
Founded in 1995, Trustwave has grown to become one of the fastest-growing cybersecurity and managed security services providers. To accommodate for its continued growth through 2018, including up to 700 local jobs, the company engaged World Business Chicago to find a new home for its expanded headquarters in Chicago.
Located on the fourth, sixth, and seventh floors of the 57-story 70 W. Madison, Trustwave’s new home features modern, flexible workspace amenities, a state-of-the-art customer experience center, and renovated offices to accommodate for the company’s expansion. Trustwave’s expanded HQ was officially announced in a ribbon cutting with Mayor Emanuel and World Business Chicago in June 2017.
About one third of Trustwave’s approximately 1,700 global employees are based in Chicago, Photo: Tom Harris Photography providing threat, vulnerability, and compliance management services and technologies for more than three million business customers in 96 countries. Security analysts, ethical “With Chicago’s incredible connectivity hackers, forensic investigators, researchers, engineers, sales, and support staff develop and deliver some of the most innovative cybersecurity technologies and managed security and talent pool, having our HQ in the city services in the industry. has always been integral to our success and global reach. In everything from site selection and real estate advising to coordinating the ribbon cutting ceremony, World Business Chicago has truly been a full-service partner for Trustwave as we continue growing our Chicago presence.”
Robert McCullen CEO, Trustwave Photo: Tom Harris Photography 14 Local Impact
NEIGHBORHOOD AND STRATEGIC INITIATIVES (NSI) OVERVIEW
Neighborhood and Strategic Initiatives (NSI) drives inclusive economic TARGETED BUSINESS DEVELOPMENT growth in Chicago’s underserved neighborhoods through targeted business Driving growth and investment in underserved development, workforce development and support services for small- and neighborhoods and connecting businesses with medium-sized businesses. resources to build more vibrant corridors NSI is a result of Mayor Emanuel’s Plan for Economic Growth and Jobs, which and communities. WBC has led since 2011, and is designed to work in collaboration with other public and private neighborhood development efforts already underway WORKFORCE AND TALENT DEVELOPMENT across the city. Improving employment opportunities for residents of By focusing on targeted business development; expanding high-quality underserved neighborhoods and supporting community workforce development opportunities; connecting small- and medium-sized investment for neighborhood-based employers. business owners with services that help them grow; and promoting local procurement practices, NSI champions World Business Chicago’s vision to SMALL- AND MEDIUM-SIZED ensure that all Chicagoans prosper. BUSINESS SUPPORT Creating pathways for local small- and medium-sized enterprises (SMEs) to open new locations in and around Chicago.
CHICAGO ANCHORS FOR A STRONG ECONOMY (CASE) Leveraging purchasing practices from the city’s anchor institutions to support local procurement and collectively impact Chicago’s neighborhoods. Photo CourtesyPhoto of City Chicago Local Impact 15
WORKFORCE PROGRAMS
Chicagoland Healthcare Workforce Collaborative 1000 Jobs for Chicagoland Manufacturing
In 2017, World Business Chicago helped advance the Chicagoland Healthcare In March 2017, World Business Chicago celebrated the completion of the Workforce Collaborative (CHWC). The innovative employer network unites 1000 Jobs for Chicagoland Manufacturing pilot program. healthcare and industry partners to identify and implement workforce solutions Launched in January 2015 and funded by more than $1.5 million in public that increase healthcare career opportunities for underserved populations. and private contributions, 1000 Jobs was a demand-driven workforce CHWC was launched through grant support from JPMorgan Chase and the development program that placed qualified job seekers on career pathways in Chicagoland Workforce Funders Alliance, and is co-chaired by Advocate manufacturing, and linked residents to training programs resulting in full-time Health Care, Sinai Health System, and University of Chicago Medicine. employment in the Chicagoland area.
After a series of strategy sessions throughout 2017, CHWC identified and The initiative reached its goal of placing 1,000 people on the path to a career began advancing three core focus areas: improving employee retention and in manufacturing and successfully connected an additional 150 people to full- career pathways, strengthening relationships with education providers, and time jobs in the sector. In total, the program helped match 162 companies increasing local and targeted hiring. across the region to qualified candidates.
With World Business Chicago serving as a convener, CHWC will continue World Business Chicago officially concluded the program at an event to build programs and initiatives that improve employment outcomes welcoming more than 100 stakeholders to highlight lessons learned and best throughout Chicago. In 2018, CHWC plans to launch a pilot program that practices for placing qualified workers into high-quality manufacturing jobs. provides a pathway from entry-level, non-clinical healthcare jobs into Medical
Assistant positions through a customized education curriculum, increased 1000 JOBS PROGRAM COLLABORATORS employer commitment, and targeted support services. Alliance for Industry and Manufacturing Grant Thornton Bank of America Charitable Foundation Illinois Manufacturing Association CHWC PROGRAM COLLABORATORS Bethel New Life Industrial Council of Nearwest Chicago
Advocate Health Care Northwestern Medicine Chicago Community Trust Instituto del Progreso Latino Chicago Cook Workforce Partnership NorthShore University Health System Chicago Cook Workforce Partnership Jane Addams Resource Corporation (JARC) Chicago Workforce Funders Alliance Presence Health Chicago Urban League OAI, Inc. Cook County Health & Hospital System ResCare Chicago Workforce Funder Alliance PNC Bank JPMorgan Chase & Co. Rush University Medical Center City of Chicago Safer Foundation Lurie Children’s Hospital Sinai Health System Digital Manufacturing & Design Innovation Technology and Manufacturing Association Malcolm X Community College UI Health & Hospital System Institute Michael Reese Health Trust University of Chicago Medicine 16 Local Impact
ANCHORS CHICAGO ANCHORS FOR A STRONG ECONOMY (CASE)
Launched in 2014, Chicago Anchors for a Strong Economy (CASE) enables anchors to individually and collectively support the vitality of their neighborhoods by sourcing and qualifying local, small- to medium-sized enterprises (SMEs) to supply the products and services anchors need. In 2017, CASE added its 16th anchor, Presence Health.
CASE also partnered with the City of Chicago’s Department of Procurement Services to join City Accelerator, an initiative of Living Cities and the Citi Foundation, that works across cities to advance innovations that generate a positive impact for their communities.
With support from JP Morgan Chase and the Surdna Foundation, CASE also began developing the first phase of an online, integrated assessment portal to match small- and medium-sized businesses with anchor procurement opportunities.
Anticipated to launch in mid-2018, the portal will support the automation of CASE’s proprietary business evaluation and matchmaking services, allowing “Relationships are essential to building bridges qualified suppliers to more efficiently showcase their services, making it to opportunities. The CASE Initiative has been easier for anchors to connect with Chicago’s SMEs. that bridge for Evanston Technology Partners to
2017 IMPACT prominent business anchors in the Chicago area. This support has allowed us to move forward with building the Bronzeville Cyber Security and Innovation Center in the Rosenwald building to 435 120 $31M $12.5M serve customers throughout the United States” Businesses Jobs Contracts Revenue Assisted Created Awarded Paid Out Emmanuel Jackson CEO, Evanston Technology Partners Photo: “Marina City at Sunset” vonderauvisuals, CC Flickr “Marina City at Sunset” vonderauvisuals, Photo: Local Impact 17
LAUNCHED PROGRAM UPDATES mHUB Metro Chicago Exports & Chicago Regional Growth Corporation Developed at World Business Chicago as one of the strategic focus areas of Mayor Emanuel’s Plan for Economic Growth and Jobs, mHUB is Chicago’s first Formed by World Business Chicago through a regional economic development innovation center focused on physical product development and manufacturing. working group in 2014, Metro Chicago Exports (MCE) was a partnership between the City of Chicago and the seven counties in Northeastern Illinois mHUB officially opened its new incubation center in March 2017, providing (Cook, DuPage, Kane, Kendall, Lake, McHenry and Will) to increase exports 63,000 square feet of co-working and event space and 10 fabrication labs from businesses in the Chicago region. with nearly $5 million in prototyping equipment and software, attracting over 650 community members, and 100 industry and community partners in its MCE kicked off the year by leading two cohorts of 13 companies to participate first year. in ExporTechTM. Additionally, MCE hosted two export pitch competitions highlighting the work of 20 local firms, awarded six companies $17,000 in cash mHUB offers Chicago’s burgeoning product innovators a connection point and $17,000 in UPS shipping credits to help them scale their export services. to the larger community by partnering with established manufacturers, business accelerator programs, venture capitalists, universities, and providers At the end of 2017, MCE evolved into the Chicago Regional Growth Corporation of industry-specific business services. mHUB also launched a mentorship (CRGC), which is also comprised of the City of Chicago and Cook, DuPage, Kane, program and series of courses along with hands-on equipment training Kendall, Lake, McHenry, and Will Counties. With a focus on regional economic sessions to give members the broadest set of resources to take their ideas development, CRGC is a collaborative group designed to increase the capacity from prototypes to new products that will support sustainable businesses. of local economic development organizations to drive inclusive growth.
2017 MILESTONES 2017 IMPACT
$18.3M 200 235 $19.5M 60 $15.7M 34+ Raised By Startup Products Generated Microgrants Export Revenue for New Jobs Members Companies Launched Revenue Awarded Regional Companies Created 18 Local Impact
CHICAGONEXT OVERVIEW
ChicagoNEXT is World Business Chicago’s dedicated effort to drive inclusive growth and opportunity for Chicago’s technology economy. Led by a council of Chicago’s technology leaders, ChicagoNEXT builds programs and promotes Chicago as a global technology hub through its core focus on increasing access to capital, attracting and retaining talent, fostering innovation with industry partners, and strengthening communities through inclusive growth and opportunity.
From expanded programming to deepening partnerships with foundations, universities, investors and entrepreneurs, 2017 was a banner year for ChicagoNEXT.
Through these programs and events and other collaborations across the city’s innovation community, Chicago also increased its global status as a technology leader. In addition to being recognized as the #1 U.S. Top Tech Spot of the Future1 and a top ten global innovation and tech hub,2 Chicago’s tech ecosystem in 2017 offered the best venture capital returns in the U.S. for the second year in a row,3 as local startups raised $1.73 billion in funding throughout the year - the most raised since the dot-com boom in the early 2000’s.
1. “Top Cities for Tech and Engineering Jobs.” Modis. May 26, 2017. Accessed April 04, 2018. http://blog.modis.com/employers/top-cities-for-tech-and-engineering-jobs/. 2. “Report Reveals Top Tech Innovation Countries & Cities.” KPMG. April 04, 2017. Accessed April 04, 2018. https://home.kpmg.com/us/en/home/media/press-releases/2017/03/us-and-china-lead-tech-innovation-and-disruption- even-as-innovation-spreads-globall-kpmg-report.html. 3. “Venture Ecosystem FactBook: Chicago.” Pitchbook. April 01, 2018. Accessed April 4, 2018. Venture Ecosystem FactBook: Chicago. Local Impact 19
CHICAGONEXT
Chicago Venture Summit ThinkChicago
On September 13 and 14, more than 400 investors and entrepreneurs from Since 2010, ThinkChicago has engaged more than 3,000 students to across the country gathered in Chicago for a sold-out Summit, eager to meet explore Chicago’s vibrant tech scene through local and national programs, the best venture-ready startups in the city. showcasing startup hubs, fast-growing tech companies, and corporate innovation leaders. Held at Google’s Chicago HQ, the event featured 50 speakers, 80 startups, and more than 130 investment firms for networking and conversations focused In 2017, ThinkChicago continued its program partnerships with Lollapalooza on Chicago’s leading position in venture capital return on investment (ROI), the and Chicago Ideas Week, providing 400 university students, from across the city’s competitive advantage in B2B technology, and emerging technologies country, behind-the-scenes access to Chicago’s 40+ startups, corporations, and startup trends. and incubators.
Additionally, for the first time in 2017, the Summit took place over two days, ChicagoNEXT received nearly 1,200 applications for Lollapalooza and Chicago partnering with five of Chicago’s leading innovation hubs to host industry Ideas Week programs, with selected students representing 78 universities showcases and spotlight local innovations in fintech, healthcare, data from across the country. analytics, IoT, and more.
2017 HIGHLIGHTS 2017 HIGHLIGHTS
THINKCHICAGO 2017 ROADSHOW SCHOOLS:
50 130+ Speakers Investment Firms Attended
80 400 5 1,750 4 Startups Investors & Entrepreneurs Roadshow Events Students Engaged Host Universities 20 Local Impact
BLACKSTONE INCLUSIVE ENTREPRENEURSHIP CHALLENGE
The Blackstone Inclusive Entrepreneurship Challenge is a first-of-its-kind effort 2017 IMPACT providing $3 million over three years to innovative organizations that recruit and support diverse entrepreneurs and scale startups in the Chicago area. Selected organizations create innovative programs for underserved communities, including more than 800 people of color, women, veterans, and immigrants. Launched in July 2017, the inaugural year of the Blackstone Challenge received 140+ 400+ applications from nearly 50 organizations across Chicago and awarded $1 Workshops Entrepreneurs million total to eight selected programs. Additionally, the JPMorgan Chase Foundation provided a grant to ChicagoNEXT to create a Project Review Panel to analyze each cohort member’s impact and share findings for creating a more inclusive entrepreneurial ecosystem. 19 $450k Startups Generating Income Funding Raised by Participants
2017 FUNDED ORGANIZATIONS Local Impact 21
CASE STUDY: Founded as a nonprofit in 1979, Bethel New Life is a new breed of community investment organization bringing positive change to neighborhoods on A NEW LIFE Chicago’s West Side, including Austin, Garfield Park, Humboldt Park, and North Lawndale.
By creating opportunities to bring individuals and families out of poverty, Bethel strives to transform the systems and policies that dampen the human spirit and prevent communities from thriving.
With investments across senior housing, business development, and asset building, Bethel received a $100,000 grant from the Blackstone Challenge to launch a new initiative for technology and entrepreneurship - the Business Innovation and Technology Initiative (BIT).
BIT helps entrepreneurs that want to take the next step in exploring innovative ideas to incorporate ever-changing technology into their new or existing business. With support from the Blackstone Foundation, the BIT program provides access to technological resources to help aspiring entrepreneurs develop new products to bring to market and incorporate technology into their “The Blackstone Grant has enabled Bethel New Life existing business. to engage west side residents and the surrounding BIT participants have access to a “maker space,” including hands-on Chicagoland area in a more modern technological way workshops in 3D printing, app development, big data, and skills that can help as it relates to economic and workforce development. businesses scale up in the 21st-century tech economy.
By utilizing the funds to develop a technology elevation The first cohort will begin the 15-week BIT program in early 2018. center, we are able to support entrepreneurs interested in enhancing their businesses through technology as well as inventors who are developing new products to bring to market.”
Philip Fairweather Business Innovation and Technology Manager Bethel New Life 22 Global Reach
FIVE Global Strategic Partnerships* China (2), Mexico City, London, Tel Aviv
1,800 100 Foreign-Based International Chambers Companies of Commerce
AMPLIFYING 200+ 80+ 28 FDI Projects* Consulates Sister Cities
GLOBAL REACH #1 North American Metro for Foreign Direct Investment, Bringing the world to Chicago Five Consecutive Years* and Chicago to the world Best Investment Promotional Agency in the Americas Winner of the Foreign Direct Investment Strategy Award
*since 2011 Global Reach 23
GLOBAL STRATEGIC International Travel & Partnerships INITIATIVES OVERVIEW WBC hosts international business delegations and supports Mayor Emanuel’s international travel.
As populations continue to grow in the world’s urban centers and become increasingly interconnected in a continually evolving globalized economy, JUNE it’s imperative for cities to develop a robust international strategy to stay competitive on a global stage. Through our strategic initiatives, partnerships, MONTREAL and events, WBC leads the city’s effort to promote Chicago as a leading Attended the 12th Metropolis XII World Congress global city. Canadian Prime Mayor Mayor of Minister of Paris Mexico City WBC advanced this strategy throughout 2017, strengthening our partnerships with the local international community and global constituents. Chicago is home to more than 80 consulates and honorary consulates, JULY 100 international and ethnic chambers of commerce and international trade-based organizations, and more than 1,800 foreign-based companies representing $100 billion in foreign direct investment. BERLIN LONDON MILAN Met with 300+ companies across all three cities
MET WITH 20 PERSON SIGNED AN leading German business delegation academic partnership technology companies, begin to implement between IIT and government, and civic the Chicago-London Politecnico leaders City Data Alliance di Milano
SEPT.
TEL AVIV Forged the Tel Aviv-Yafo - Chicago Partnership and six other collaborative agreements
Mayor Emanuel keynoted global water tech conference, WATEC 24 Global Reach
GLOBAL REACH Global Reach 25
2017 FOREIGN DIRECT INVESTORS Australia Denmark India Luxembourg Poland Switzerland Austria Finland Ireland Mexico Portugal Turkey Belgium France Israel Netherlands Singapore UAE Canada Germany Italy New Zealand South Africa UK Cayman Islands Greece Japan Norway Spain China Iceland Korea Panama Sweden
2017 VISITS, MISSIONS, AND DELEGATIONS Austria Krakow, Poland Mexico City, Mexico Shenyang, China Brazil Latvia Norway Vietnam China Liaoning, China Qatar Zhuhai, China Hubei, China Luxembourg Shanghai, China
CHICAGO SISTER CITIES Accra Bogota Galway Lucerne Paris Toronto Amman Busan Gothenburg Mexico City Petach Tikva Vilnius Athens Casablanca Hamburg Milan Prague Warsaw Belgrade Delhi Kyiv Moscow Shanghai Birmingham Durban Lahore Osaka Shenyang 26 Global Reach
GLOBAL STRATEGIC INITIATIVES EVENTS
The following events opened doors for international leaders to come to Chicago and share how cities can continue to lead global culture and change through collaboration and cooperative action.
Urban Waterways Forum
In March 2017, Mayor Emanuel, Mayor Anne Hidalgo of Paris, WBC, and the Chicago Council on Global Affairs hosted the Urban Waterways Forum.
The Forum convened 17 mayors representing 44 million people across five continents and 11 countries to discuss the future of urban waterways, including opportunities and challenges for economic development, quality of life, and environmental protection.
North American Climate Summit
In December 2017, Mayor Rahm Emanuel, World Business Chicago, the Global Covenant of Mayors for Climate and Energy, Bloomberg Philanthropies, and C40 co-hosted the North American Climate Summit.
More than 60 mayors and senior municipal government officials from across the world, representing more than 60 million people, convened to discuss how cities can implement the Paris Agreement, culminating in the signing of the Chicago Climate Charter. The Charter lays out a framework for how cities can address climate change through mobility, energy, buildings and development, waste, and sequestration.
Prime Minister Justin Trudeau of Canada provided a video message to open the conference, with a keynote address provided by former President Barack Obama. Global Reach 27
CHICAGO SISTER CITIES INTERNATIONAL (CSCI)
Chicago Sister Cities International (CSCI) is the largest and most active sister 2017 PROGRAM HIGHLIGHTS cities organization in the U.S. Celebrating Citizen Social Services Unifest Diplomacy Conference CSCI has more than 600 committed volunteers building relationships with
Chicago’s 28 international sister cities through cultural arts and tourism, global To honor its more than CSCI’s Social Services Chicago’s rich cultural education, government relations, and international business partnerships. 600 volunteers and eight Committee convened a diversity took over the sister cities anniversaries, two-day conference in June iconic Riverwalk over six In 2017, CSCI hosted nearly 40 events and programs that reached across CSCI hosted its first annual at the University of Illinois consecutive Thursdays in reception, Celebrating Citizen at Chicago (UIC), inviting July and August for the first- borders to make a global impact. CSCI also hosted 23 international delegations Diplomacy, in April. CSCI social service practitioners ever Unifest, a celebration in Chicago, creating forums for government officials and civic leaders to share members, Chicago’s local from around the world to of Chicago’s 28 sister cities ideas and best practices in their field. international community share best practices and through food, drink, and leaders and business forge new international entertainment with more Throughout the year, CSCI welcomed mayors from Chicago’s sister cities executives attended the collaborations. than 3,000 people attending event representing Chicago’s the event. of Birmingham, United Kingdom; Busan, Republic of Korea; Galway, Ireland; sister cities. Gothenburg, Sweden; Lahore, Pakistan; Mexico City, Mexico; Milan, Italy; Paris, France; Prague, Czech, Republic; and Toronto, Canada; the former mayor of 2017 AWARDS Amman, Jordan; and the vice mayor of Shenyang, China. Best Overall Innovation Award for Youth and Education Sister Program Award Cities International At the end of 2017, CSCI updated its logo and website to celebrate its history and promote the visibility of its mission to benefit the citizens of Chicago and 2017 EVENT HIGHLIGHTS our sister cities. Bank of America Mexico Earthquake CSCI Medical Chicago Marathon Relief Fund Initiative
Hosted a ceremony at Raised funds to support Through a generous grant
CHICAGO LAHORE CHICAGO MOSCOW the Marathon Expo to disaster recovery in from the Lynn Sage Cancer 10 YEAR 20 YEAR 20 YEAR 30 YEAR SISTER CITY ANNIVERSARY SISTER CITY ANNIVERSARY SISTER CITY ANNIVERSARY SISTER CITY ANNIVERSARY recognize international Chicago’s sister city of Research Foundation, the sister marathons in nine of Mexico City through CSCI Medical Initiative Chicago’s sister cities and a telethon and online made it possible for 22 hosted cheering stations fundraising campaign. doctors from around the along the marathon route. world to attend the 19th Annual Lynn Sage Breast 10 YEAR 20 YEAR 20 YEAR 35 YEAR SISTER CITY ANNIVERSARY SISTER CITY ANNIVERSARY SISTER CITY ANNIVERSARY SISTER CITY ANNIVERSARY Cancer Symposium. 28 Global Reach
CSCI PROGRAM HIGHLIGHTS
Global Youth Ambassadors Leadership Summit
Presented in partnership with the University of Illinois at Chicago, CSCI’s Global Youth Ambassadors Leadership Summit provides teenage girls, ages 14–16, from Chicago and its 28 sister cities, a globally-immersive experience for leadership development, cross-cultural awareness, and civic exchange.
The 2017 Summit took place from July 22–29 in Chicago and welcomed 25 emerging leaders who represented nine local high schools and 15 sister cities. Students participated in leadership development workshops and met with nearly 30 of Chicago’s top corporate and civic leaders in a diverse cross section of fields, including law, government, healthcare, the arts and science, technology, engineering, and math (STEM). 29 World Business Chicago Global Reach 29
CASE STUDY: FULL STEAM AHEAD
At 15 years old, Ananya Asthana is already a force to be reckoned with. She’s a top student at the University of Chicago Laboratory Schools, a dedicated friend, an alumni of CSCI’s Global Youth Ambassadors Leadership Summit, and a warrior for gender equality.
Before joining the Summit in 2017, Ananya founded Women in STEM (www.womeninstem.org), a national organization that bridges the gap between social activism and academic clubs for women interested in science, technology, engineering, and math.
At the Summit, Ananya connected with students Ema Takahashi of Walter Payton College Prep and Antoinette Raggs of Kenwood Academy, who now serve as WiSTEM’s directors of community outreach and development, respectively, as the program continues to grow into a nationwide collaboration with chapters at 11 schools in six states, including Illinois, Pennsylvania, Indiana, and New York. “CSCI’s Global Youth Ambassadors Through the relationships built, leadership skills developed, and knowledge gained at the Leadership Summit is something I’ll Summit, Ananya is empowering others like her to break barriers and reach new heights. cherish forever and constantly be inspired by. It showed me what it meant to be connected to other girls with diverse experiences and motivated me to build relationships. I was inspired to make a difference and take a social, community-based approach.”
Ananya Asthana Founder, Women in STEM Student, University of Chicago Laboratory Schools
DRAFT LAST MODIFIED July 31, 2018 9:31 AM 30 Global Reach
CHICAGO CONSULAR CORPS GALA
Hosted by World Business Chicago, the annual Chicago Consular Corps Gala is Chicago’s premier international event honoring the Chicago Consular Corps (CCC)—an international group of Consulates, Consulates General and Honorary Consulates representing 86 countries around the world, and celebrating the longstanding relationship between the city and the Consular Corps.
More than 600 guests attended the black-tie event in 2017, held at the Hilton Chicago. Attendees raised nearly $1 million to support the ongoing work of World Business Chicago, Chicago Sister Cities International, and CCC scholarships for students at the University of Illinois at Chicago.
Mayor Rahm Emanuel and Ms. Amy Rule, and the Dean of the CCC, Ms. Patricia Maza-Pittsford and Mr. Philip Pittsford, served as Honorary Chairs.
HONOREES
GLOBAL CITIZEN AWARD CHICAGO LEGACY AWARD Cardinal Blase J. Cupich Steven Koch Archbishop of Chicago Former Deputy Mayor City of Chicago Archdiocese of Chicago CHICAGONEXT AWARD CORPORATE AMBASSADOR AWARD Blue1647 CIBC Accepted by Emile Cambry HOST SPONSORS Accepted by Larry D. Richman Founder and CEO President and CEO, CIBC Bank USA SEVP & Group Head, US Region
CHICAGO SISTER CITIES INTERNATIONAL VOLUNTEER OF THE YEAR Kathleen Landreth Borland Chair, Social Services Committee 2017 Annual Report 31
FELLOWSHIP PROGRAM
Launched in 2012, WBC’s Fellowship Program provides an exclusive professional development opportunity for mid-level executives to help drive Chicago’s strong economy - and it’s one of the many ways our public and private partners support our work across all of our focus areas.
WBC’s fellows cross industries and collaborate with internal and external teams in four- to six-month terms to develop projects and programs vital to advancing Chicago’s future.
Since 2012, the fellowship program has welcomed over 75 fellows, advanced over 30 projects and programs, and welcomed its 17th fellows cohort.
2017 fellows:
EDDIE CLOPTON Assistant General Counsel, Labor and Employment, Exelon
JOE CUTAIA Management Consultant, People & Change, KPMG VIVIAN GARCIA “It was such a humbling experience to work Manager of the 606, Chicago Park District alongside some of the smartest and most dedicated MATT MCGHEE CPA, Transaction Advisory Services, EY folks I have ever met, serving the best city in the CHRIS MYERS world. WBC’s Fellowship program was a fantastic Senior Manager, M&A Transaction Advisory Services, EY experience, and I recommend it to anyone ready to MATT NEMSHICK Business Development, Clune Construction Co. challenge themselves and the status quo.”
JIA LOK PRATT Joe Cutaia Chief Operating Officer, Sweetwater Foundation WBC Fellow, 2017 Management Consultant, People & Change, KPMG JAMIE REDMOND Director of Operations, Redmond Construction 32 World Business Chicago
FINANCIALS AUDITED FINANCIAL STATEMENTS AVAILABLE AT WORLDBUSINESSCHICAGO.COM/ANNUAL-REPORT
REVENUE EXPENSES 2017: $10.8M 2017: $12.2M 2016: $13.2M 2016: $10.9M
Note: Per GAAP, revenue is recognized when commitments are made, which may differ from Note: Per GAAP, revenue is recognized when commitments are made, which may differ from when expenses are incurred. when expenses are incurred.
2017 2017 2016 2016
Events Professional Travel Occupancy Private Grants/ Government Program Special Event CSCI Committee Personnel Marketing Licenses/Dues/CSCI Committee Program Specific Sponsorships Other Income Services Office Expense and Capital Contributions Grants Revenue Income Subscriptions Expenses Expenses
CONTRIBUTED GOODS & SERVICES PROVIDERS 2017 Total: $4,812,000
1871, Accenture, Baker McKenzie, Baltic Food Distributing, Beam Suntory, Blue 1647, Blue Crane Importers, Burson Marsteller, C3 Presents, Center for Lost Arts, Chapman and Cutler, LLP, Chicago Beverage Systems, Chicago Ideas Week, Chicago Park District, Clique Studios, Clune Construction, Consulate General of the Republic of Lithuania in Chicago, Deloitte, DevMynd, Diamond Importers, DLA Piper, Ernst and Young LLP, Exelon Corporation/ComEd, FCBCHICAGO, Gensler, Goldberg Kohn Ltd., Google Inc., Goose Island, Grant Thornton, Health Care Service Corporation, Ice Miller, ICNC, Israeli Consulate, Jenner & Block, JP Morgan Chase, Katten Muchin Rosenman LLP, Kenn Rhem, Kirkland & Ellis LLP, Kivvit, KPMG LLP, LAV Imports, Locke Lord LLP, Mayer Brown, McKinsey & Company, mHub, Mid America EDC, Millennium Park, MJ Restaurant, Morningstar,
Motorola Mobility, a Lenovo Company, Parce Rum, PepsiCo, Psistaria Greek Taverna, Redmond Construction, Revolution Brewing, Shokolad, Shoreline Sightseeing, Sidley Austin LLP, SimpleTruth, Slurping Turtle, Studio V, Sweetwater Foundation, The PrivateBank/CIBC, Tryzub Ukrainan Kitchen, United Airlines, Inc., University of Chicago, Uptake, Winston & Strawn LLP
Revenue and expenses differ from WBC audited financial statements due to varying classifications. Numbers exclude contributed goods and services, depreciation and amortization. 2017 Annual Report 33
SUPPORTERS* THANK YOU FOR YOUR GENEROSITY
$500,000+ $100,000 - $499,999 $50,000 - $99,999 $49,999 - $5,000
The Blackstone Charitable Foundation Accenture Advocate Health Care Abbott Laboratories SafeSpeed, LLC City of Chicago Aon plc Anonymous Allstate Insurance Co. Mr. and Mrs. Samuel C Scott, III Ernst and Young LLP The Aspen Institute Bank of America Inc. American Airlines Scott Goodman FCB Chicago Baker & McKenzie The Boeing Company American Family Ventures Silicon Valley Bank JPMorgan Chase BMO Harris Bank BP Corporation Angelson Family Foundation SimpleTruth The Kresge Foundation Searle Funds at The Chicago Community Trust C3 Presents Anne E. Leibowitz Fund Sprint Corporation CIBC Bank USA Chapman and Cutler, LLP Archer Daniels Midland Company Sweetwater Foundation CNA Financial Chicago Transit Authority Ariel Investments The Chicago Council Exelon Corporation/ComEd The Crown Family Avison Young William Blair GCM Grosvenor Cushman And Wakefield BDT Capital Partners Winston & Strawn LLP Grand Victoria Foundation DRW BMW Technology The John D. and Catherine T. MacArthur Foundation The Duchossois Group, Inc. Burson Marsteller The Joyce Foundation Equity Office Callahan Capital Properties KPMG LLP Fifth Third Bank Cboe Global Markets Motorola Solutions Flexpoint Ford, LLC Chicago Ideas Week Polk Bros. Foundation Gensler Chicago Park District Satter Foundation Google Inc. Chicago Ventures Stichting European Climate Foundation Grant Thornton Cleveland Avenue, LLC Surdna Foundation Inc Greeley and Hansen LLC Clique Studios Wanxiang America Corporation Healthcare Service Corporation Clune Construction United Airlines, Inc. Henry Crown and Company Coeur Mining, Inc. Hyatt Hotels Corporation Comcast INCISENT Labs Group Consulate General of Canada, Chicago IRI Consulate General of Ireland The John Buck Company Dentons Jones Lang LaSalle, Incorporated Desiree Rogers Kellogg Company DevMynd Lefkofsky Family Foundation ESD Living City Evans Food Group Livongo Health GE Capital Loop Capital GE Healthcare Madison Dearborn Partners GE Transportation Magellan Development Group, LLC GEMS World Academy Chicago Marathon Pharmaceuticals GogoAir Marmon Holdings, Inc. Goldberg Kohn Ltd. Mesirow Financial Holdings Goldman Sachs Microsoft Horizon Pharma Morgan Stanley Hyde Park Venture Partners Management LLC Museums In the Park, Inc. Illinois Tool Works Northwestern Memorial Healthcare Ingredion Incorporated Northwestern University Japanese Chamber of Commerce & Ind. People’s Gas/North Shore Gas Jenner & Block PNC Bank Joyce Chelberg Presence Health Jump Capital PricewaterhouseCoopers LLP Katten Muchin Rosenman LLP Pritzker Group Venture Capital Kirkland & Ellis LLP Rush University-Medical Center Kivvit SC Johnson The Lamar Johnson Collaborative, LLC Sidley Austin LLP Lightbank SP + Corporation Locke Lord LLP Turner Construction Company LUUM Ulta Beauty Mayer Brown UL LLC Mellody Hobson University of Chicago Hospitals Motorola Mobility, a Lenovo Company University of Chicago PepsiCo Valor Management Corp. Power Construction Ventas Inc. Pritzker Traubert Foundation Walgreen Co. Redmond Construction WaterSaver Faucet Company Richard and Martha Melman *Includes both monetary and in-kind support 34 World Business Chicago
ACKNOWLEDGMENTS
CHAIRMAN James B. Coleman Steve Kersten Accenture WaterSaver Faucet Company Rahm Emanuel Mayor Christopher Crane James P. Kolar City of Chicago Exelon Corporation PricewaterhouseCoopers LLP James S. Crown Mitchell J. Krebs VICE CHAIRMAN Henry Crown and Company Coeur Mining, Inc ESD Michael J. Sacks Wendy Davidson Eric Lefkofsky CEO Kellogg Company Tempus Labs, Inc. GCM Grosvenor Deborah DeHaas Nila R. Leiserowitz, FASID, IIDA WORLD BUSINESS CHICAGO Deloitte Gensler 2017 BOARD OF DIRECTORS Mary Dillon Jeff Malehorn Ulta Beauty World Business Chicago Carl A. Allegretti Donald Edwards Charles Matthews Deloitte Flexpoint Ford, LLC People’s Gas/North Shore Gas Anthony K. Anderson Michael Englehart Robert J. McCullen Ernst and Young LLP Presence Health Trustwave Holdings, Inc. Andrew Appel Michael Fassnacht Samuel M. Mencoff IRI FCB Chicago Madison Dearborn Partners Jeffrey S. Aronin Steve Fort David E. Moore Paragon Biosciences, LLC Turner Construction Company Equity Office Rita Athas Matt Gibson Michael H. Moskow Consultant Goldman Sachs The Chicago Council on Global Affairs Marc Baumann Ilene Gordon Oscar Munoz SP+ Corporation Ingredion Incorporated United Airlines, Inc. Melissa L. Bean Alex Gourlay Pin Ni JPMorgan Chase Walgreens and Walgreens Boots Alliance Wanxiang America Corporation Jim Brady Antonio Gracias William A. Osborn Grant Thornton LLP Valor Equity Partners Northern Trust Corporation Greg Brown Raj Gupta Henry M. Paulson, Jr. Motorola Solutions ESD The Paulson Institute John Buck Dean Harrison Jose Luis Prado The John Buck Company Northwestern Memorial HealthCare Evans Food Group, LTD Martin Cabrera Lori Healey Richard S. Price Cabrera Capital Markets, LLC Metropolitan Pier and Exposition Authority (MPEA) Mesirow Financial Debra A. Cafaro Mellody Hobson J.B. Pritzker Ventas, Inc. Ariel Investments Pritzker Group Patrick Canning Mark S. Hoplamazian Frank Ptak KPMG LLP Hyatt Hotels Corporation Marmon Holdings, Inc. David J. Carlins H. Fisk Johnson Alison Ranney Magellan Development Group, LLC SC Johnson Koya Leadership Partners Gregory C. Case Lamar A. Johnson Paul C. Reilly Aon plc The Lamar Johnson Collaborative, LLC Bank of America N.A./U.S. Trust David R. Casper Christie Kelly Jim Reynolds BMO Harris Bank JLL Loop Capital 2017 Annual Report 35
ACKNOWLEDGMENTS CONTINUED
Larry Richman Glen Tullman GENERAL COUNSEL MEMBERS CIBC Bank USA Livongo Health Earl Barnes Robbie Robinson Timothy Walbert Advocate Health Care BDT Capital Partners Horizon Pharma Jodi J. Caro Dino Robusto Keith E. Williams Ulta Beauty CNA Financial UL LLC Jennifer Kraft Desiree Rogers Don Wilson United Airlines, Inc. Choose Chicago DRW Elena Kraus Kristen Rossi Nikki M. Zollar Walgreens Morgan Stanley SafeSpeed, LLC Stephen C. Lee Pat Ryan, Jr. BP America Inc. LEGAL ADVISORY BOARD INCISENT Labs Group Jeffrey Levine Diana Sands LAW FIRM MEMBERS Mesirow Financial The Boeing Company Chris Abbinante Peter Lieb Muneer A. Satter Sidley & Austin AON Satter Investment Management, LLC Leah R. Bruno Eric A. Reeves Samuel C. Scott III Dentons Duchossois Capital Management Corn Products International, Inc. (Ret.) John L. Eisel Matt Revord David Simas Locke Lord LLP Potbelly Sandwich Shop Obama Foundation Craig Martin Amy Skaggs Kimberly Simios Jenner & Block Gensler Ernst and Young LLP David Mendelsohn A. Joshua Strickland James Skogsbergh DLA Piper Motorola Solutions Advocate Health Care Timothy P. Mohan Thuy Vo Vik Sohoni Chapman and Cutler Archer Daniels Midland Company McKinsey & Company Michael Morkin J. Douglas Sparkman Baker & McKenzie CHICAGO SISTER CITIES INTERNATIONAL BP Products North America, Inc. Tina Tabacchi ADVISORY BOARD Paula Steiner Jones Day CHAIRMAN Health Care Service Corporation Brian M. Schafer Samuel C. Scott III Robert Sullivan Winston & Strawn Corn Products International, Inc. (Ret.) Fifth Third Bank Gil M. Soffer Laura Ferris Anderson Scott Swanson Katten Muchin JPMorgan Chase & Co. PNC Bank Amanda A. Sonneborn Rita Athas Donald Thompson Seyfarth Shaw Consultant Cleveland Avenue, LLC Marc Sperber Chris Clark Ed Tilly Mayer Brown Motorola Solutions Cboe Global Markets James H.M. Sprayregen Marcelino Garcia Glenn F. Tilton Kirkland & Ellis Bogota Committee Co-Chair The Chicago Council on Global Affairs Kenneth Ulrich Daniel J. Lynch and United Continental Holdings, Inc. (Ret.) Goldberg Kohn United Airlines, Inc. Stacy Trackey Meagher Desko Nikitovic Microsoft Belgrade Committee Co-Chair 36 World Business Chicago
ACKNOWLEDGMENTS CONTINUED
CHICAGO SISTER CITIES COUNCIL OF CHAIRS Lucerne, Switzerland Shradha Agarwal Committee Co-Chair: Camille Julmy Outcome Health Accra, Ghana Committee Co-Chair: Albert Lacher Committee Chair: Vacant Haven Allen Mexico City, Mexico mHub Amman, Jordan Committee Co-Chair: Adriana Escárcega Committee Chair: Phil Palmer Andrew Appel Committee Co-Chair: Alejandro Silva IRI Worldwide Athens, Greece Milan, Italy Committee Co-Chair: Nicholas Black Jeff Aronin Committee Chair: Joe Monastero Committee Co-Chair: Demetrios Kozonis Paragon Biosciences LLC Moscow, Russia TJ Augustine Belgrade, Serbia Committee Co-Chair: Aleksandra Efimova Committee Co-Chair: Louis Milicich University of Illinois Committee Co-Chair: Piotr Galitzine Committee Co-Chair: Desko Nikitovic Osaka Japan David Baker America’s Urban Campus Birmingham, United Kingdom Committee Co-Chair: Kimiyo Naka Committee Co-Chair: Angela Shepherd Brenna Berman Committee Co-Chair: Rupert Ward Paris, France City Tech Collaborative Committee Co-Chair: Brett August Bogota, Colombia Committee Co-Chair: David Reithoffer Erik Birkerts Committee Co-Chair: Marcelino Garcia Clean Energy Trust Committee Co-Chair: Ruben Ocampo Petach Tikva, Israel Committee Co-Chair: Michael Schmitt Jason Blumberg Busan, Republic of Korea Committee Co-Chair: Daniel Shure Energy Foundry Committee Chair: Susan Hollender Prague, Czech Republic Mike Bousch Casablanca, Morocco Committee Co-Chair: Edward Dellin Discover Financial Services Committee Co-Chair: Lisa Roberts Committee Co-Chair: Joseph Vosicky, Jr. Committee Co-Chair: Julie Stagliano George Bousis Shanghai and Shenyang, China Raise Delhi, India Committee Chair: Vacant Committee Chair: Smita Shah Sean Brown Social Services yCharts Durban, South Africa Committee Chair: Kathleen Borland Committee Chair: Vacant Emile Cambry, Jr. Toronto, Canada Blue 1647 Galway, Ireland Committee Chair: Linda Loving Committee Co-Chair: William Gainer Sach Chitnis Committee Co-Chair: Billy Lawless, Sr. Vilnius, Lithuania Jump Capital Committee Chair: Stanley Balzekas Gothenburg, Sweden Andrew Cittadine Committee Co-Chair: Don Ahlm Warsaw, Poland Diagnostic Photonics Committee Co-Chair: Annette Seaburg Committee Chair: Iwona W. Bochenska Steven Collens Hamburg, Germany MATTER CHICAGONEXT COUNCIL Committee Co-Chair: Rolf Achilles John Conrad Committee Co-Chair: Johann Christoph Lichtenfeld CHAIRMAN iBio Humanitarian Mark Tebbe Brandon Cruz Committee Co-Chair: Susan Leonis Adjunct Professor for Entrepreneurship GoHealth Committee Co-Chair: Stephen Smith University of Chicago Booth School of Business Linda Darragh Kyiv, Ukraine CHAIRMAN EMERITUS School of Management Committee Chair: Vera Eliashevsky J.B. Pritzker Northwestern University Lahore, Pakistan ChicagoNEXT Chairman Emeritus Steve DeBretto Committee Co-Chair: Tariq Butt Founder, Pritzker Group Industrial Council of Nearwest Chicago Committee Co-Chair: Tariq Malhance Vahe Dombalagian Madison Dearborn Partners 2017 Annual Report 37
ACKNOWLEDGMENTS CONTINUED
Laura Ferris Anderson Jason Henrichs Phyllis Lockett JP Morgan Chase FinTEx LEAP Innovations Scott Fetters Adolfo Hernandez Eric Lunt 2112 Pritzker Foundation Signal David Fisher Fred Hoch Linwood Ma Enova TechNexus Venture Collaborative tastytrade Brian Fitzpatrick Roger Hochschild Matt Maloney Tock Discover Financial Services GrubHub Declan Flanagan John Hoesley Joe Mansueto Lincoln Clean Energy CIBC Morningstar John Flavin Terry Howerton Talia Mashiach University of Chicago TechNexus Venture Collaborative Eved Amy Francetic Israel Idonije Robert McCollum Invenergy Israel Idonije Foundation Trustwave Holdings, Inc. Constance Freedman Amit Jhawar Ryan Miller Moderne Ventures Braintree Bank of America Steve Frenkel Julia Kanouse David Miller Current Illinois Technology Association DePaul University Laura Frerichs Mohit Kapoor Jeff Miller University of Illinois at Urbana-Champaign TransUnion Motorola Mobility Mike Gamson Melissa Kaufman Rumi Morales LinkedIn The Garage CME Group Sonny Garg Northwestern University Scott Murray Uptake Brad Keywell Northern Trust Corporation Chris Gladwin Uptake Phil Nevels Ocient Adam Koopersmith ComEd Al Goldstein Pritzker Group Venture Capital Caralynn Nowinski Collens Avant Logan LaHive UI LABS Brett Goldstein Techstars Gerald O’Connor Ekistic Ventures April Lane Cboe Global Markets Steve Gould Catapult Chicago Jim O’Connor, Jr. Abundant Venture Partners Amanda Lannert William Blair Antonio Gracias Jellyvision Maura O’Hara Valor Equity Partners Nathan Laurell Illinois Venture Capital Association Jim Gray New Frontier Holdings Dan O’Neil G-Bar Bruce Leech Ad Hoc Mark Harris DePaul University Rohit Pasam Illinois Science and Technology Coalition Eric Lefkofsky Xaptum Jason Heltzer Tempus Labs, Inc. Vic Pascucci Origin Ventures Michael Liang Lightbank Troy Henikoff Baird Venture Partners Andrew Perlman MATH Venture Partners GreatPoint Energy 38 World Business Chicago
ACKNOWLEDGMENTS CONTINUED
Peter Pfanner Nancy Sullivan WORLD BUSINESS CHICAGO Ella McCann University of Illinois at Chicago IllinoisVENTURES STAFF International Program Associate Chicago Sister Cities International Eero Pikat Matthew Tirrell Andrea Zopp Barchart University of Chicago Joy Lyu Monahan President and CEO General Counsel and Director of Special Projects Michael Polsky Stephen Tompos Alya Adamany Woods Invenergy Cleveland Avenue, LLC Anel Montes Executive Director, ChicagoNEXT Daphne Preuss Kimberly Trautmann Director of International Programs Leroy Allala Chicago Sister Cities International Chromatin DRW Executive Vice President, World Business Chicago Jimmy Odom Harper Reed Howard Tullman Executive Director, Chicago Sister Cities International Director of Inclusive Entrepreneurship PayPal 1871 Sean Anderson ChicagoNEXT Josh Roberts Guy Turner Communications Specialist Yolanda Richards CIBC Hyde Park Venture Partners Tom Bartkoski Manager of Business Development Jim Robinson Laura Van Peenan Director of International Business Development Maggie Rosado Astellas Pharma William Blair August Benzow Senior Administrative Assistant Benedict Rocchio Catherine Vorwald Research Manager Phyllis A. Ross Baird Venture Partners University Technology Park Lori Bush Executive Assistant to President and CEO Illinois Institute of Technology Reza Rooholamini Vice President of Business Development Carrie Simmons CCC Information Services Dan Wagner Genevieve Coady Director of Operations and Human Resources Civis Analytics Nick Rosa Director Andrew Spinelli Sandbox Industries Tim Walbert ChicagoMade Director of Global Strategic Initiatives Horizon Pharma Brenna Conway Scott Rose Christal Stinson INTL FCStone, Inc. Sona Wang Program Manager, ThinkChicago Chief Development Officer Ceres Venture Fund ChicagoNEXT Kristi Ross Erin Sullivan tastytrade Alex Washington Rebecca Diaz Manager of Workforce Development Pat Ryan, Jr. Wind Point Partners Senior Business Relationship Associate CASE Tanya Tan INCISENT Labs Group David Weinstein Associate Director of International Business Freshwater Advisors Myrna Farmer Neal Sales-Griffin Development Executive Director, Board Relations CodeNow Peter Wilkins Adrienne Tongate Hyde Park Angels Paula Galbraith David Schonthal Deputy Director Financial Accounting Consultant IDEO Kevin Willer Chicago Sister Cities International Chicago Ventures Terrance Hall Joe Scoby Jake Trussell Manager of Cluster Growth Magnetar Don Wilson Creative Director DRW Tiffany Hamel-Johnson Jai Shekhawat Dennis Vicchiarelli Executive Vice President, Strategy SAP Fieldglass Jessica Yagan Executive Vice President, Business Development and Administration Impact Engine Andrew Sieja Bernita Johnson-Gabriel Jessica Wiltse Relativity Sam Yagan Communications Manager Executive Vice President, Neighborhoods ShopRunner Charles Smith and Strategic Initiatives CS Insurance Strategies Jeff Yordon Benjamin Kelner Sagent Pharmaceuticals Vik Sohoni Director, Strategy and External Relations McKinsey & Company Chicago Sister Cities International Shelley Stern Grach Abin Kuriakose Microsoft Program Manager Tim Stojka ChicagoNEXT Agentis Energy 2017 Annual Report 39
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