Recently, Chicago has won many accolades for being an international business center: the only US "global destination city" based on investment according to IBM, #1 in Foreign Direct Investment Strategy by fDi and one of PriceWaterhouseCoopers’ Global Cities of Opportunity for its leadership in business, finance and culture.
Regardless of the ratings, a look at recent and planned international activity taking place in Chicago shows the magnitude of the city’s position as a truly global business destination.
During the first half of 2010, World Business Chicago (WBC) assisted in welcoming a noteworthy array of prestigious international forums, events and visitors. For example, The 2010 Richard J. Daley Global Cities Forum assembled leaders from more than 100 cities and local governments, along with prominent business, civic and academic leaders, addressing the theme New Partnerships for a New Economy: Driving Innovation in Cities. During the forum, WBC signed an MOU with Florence, Italy to promote economic growth.
Additionally, WBC organized a distinguished group of business leaders to meet with a high-level international delegation as a part of Experience America. The program, organized by The U.S. Department of State's Office of the Chief of Protocol, produces beneficial relationships between cities and participating ambassadors’ countries.
WBC President, Rita Athas, delivered a keynote presentation to nearly 800 participants at the U.S.-Saudi Business Opportunities Forum. The conference highlighted opportunities for greater economic collaboration between the U.S. and Saudi Arabia. In conjunction, WBC signed an MOU with the Council of Saudi Chambers of Commerce to promote business development.
Athas also addressed the Illinois Small Business Export Promotion alongside U.S. Senator Dick Durbin, U.S. Secretary of Commerce Gary Locke, U.S. Small Business Administrator Karen Mills, U.S. Trade Representative Ron Kirk and The Export Import Bank of the U.S. Chairman Fred Hochberg. Nearly 400 people from companies interested in expanding export sales into new markets attended the forum.
Finally, the international BIO 2010 conference in Chicago brought international biotech/life science leadership from more than 35 countries to the city, allowing WBC to help showcase Chicago’s business advantages to the world.
Chicago has long been a hub of international business activity, home to more than 1,500 foreign-based companies, and a beneficiary of more than $40 billion in foreign direct investment. And, foreign companies continue to call Chicago home. For example, James Hardie, the world's leading manufacturer of fiber-cement building materials, recently selected Chicago for its new North American headquarters, moving several of its top executives from Amsterdam and elsewhere in the United States.
In addition, German company K+S acquired Chicago-based Morton Salt, moving the worldwide headquarters of its salt business from Santiago, Chile to Chicago, adding employees and designating Chicago the “Salt Capital of the World.”
And, global Chicago-area health care company, Abbott, recently announced it would acquire Piramal Healthcare, making it the leader in the Indian pharmaceutical market.
The list of international companies increasing their presence here, Chicago-based companies expanding operations abroad, and industries interested in the area is expansive. In the past few months alone, rail industry leaders from China, Japan and France visited Chicago on separate occasions to discuss business opportunities.
WBC continues to strengthen ties with targeted regions, as well. For instance, a collaboration of Chicago agencies will promote the city at the Shanghai World Expo in the fall. Since the beginning of the year, WBC has met with delegations from the Netherlands, the U.K., Belgium, China, Italy, France, Germany and many more. And, the fact that this week alone brings business-related visitors from Turkey, Germany, the Netherlands, Venezuela, China, Senegal and the Republic of Korea demonstrates how Chicago continues to prosper as a global business destination.
More information about Chicago’s business connections with various countries is available in the International Facts section of our website. We also often post on Twitter about international delegations visiting @WorldBizChicago.
