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2017 Annual Report 1 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
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