At World Business Chicago, we pride ourselves on being Chicagoland’s trusted resource for data-driven insights into the region’s business and economic landscape.
To that end, our research team publishes real-time data, analysis, and trends to empower businesses of all sizes.
As online media companies reduce or change fact-checking efforts, WBC remains committed to providing accurate and reliable information to support decision-making for Chicagoland’s business ecosystem.
Since the publication of our recent economic dashboard, World Business Chicago has finalized its tracking of Pro-Chicago Decisions (PCDs)—projects that showcase companies expanding, relocating, or launching in the Chicagoland region. These decisions reflect significant contributions to the region’s economic vitality, including the creation of new jobs, expanded infrastructure, and diversified industries.
In 2024, Chicagoland celebrated 140 total PCDs, including 110 expansions and 30 relocations or new market entrants.
Notably, 10 investments were made on Chicago’s South and West sides, with 83 projects spread across the GCEP/Regional area.
The economic impact is impressive: these PCDs created over 14,800 jobs, exceeding over $1.3 billion in earnings.
These milestones underscore Chicago’s continued momentum as a destination for growth, innovation, and opportunity.
“140 Pro-Chicago Decisions represent our region’s economy’s continued vibrancy and strength. These projects reflect the diverse industries and communities driving growth across Chicagoland. From global market entrants like PsiQuantum building the U.S.’s first quantum supercomputer to regional expansions like Perla’s new antipasta production facility, every investment underscores Chicago’s resilience and appeal as a world-class business hub poised for continued success in 2025 and beyond.” – Kyle T. Schulz, Chief Growth Officer, World Business Chicago
The Research Center at World Business Chicago is diligently preparing its annual 2024 Year-in-Review report, providing a comprehensive look at how Chicago is positioned for success in 2025. In the coming weeks, we will release a series of infographics and concise summaries highlighting macro trends, key industries, quality of life, and more, culminating in the full report’s publication in early March.
“Tracking economic data is critical to understanding and driving the pulse of our region’s economy,” said Wendy Wu, Research Director, World Business Chicago. “Actionable insights are the foundation of economic growth. By sharing this data, we enable Chicagoland businesses to make informed decisions, seize opportunities, and shape a thriving, inclusive future for our community.”
Snapshots of economic insights from the WBC Research Center:
Chicagoland’s Economy: Key Findings and Takeaways
The Chicago region continues to show resilience and growth, but nuanced trends signal opportunities and challenges for businesses across all sectors.
- Economic Output: Chicagoland’s nominal output increased by 0.9% in Q1 2025, reaching $906 billion—demonstrating the region’s consistent economic expansion.
- Labor Force Growth: Employment increased by 0.6% between October and November 2024, marking the largest labor force in a decade with over 5.06 million workers.
- Unemployment Trends: Unemployment dropped to 4.9% in November, with decreases in all areas across Chicagoland. While still higher than 2023 levels, this signals positive momentum.
- Job Postings Decline: Job postings decreased by 6.7% in November to 189,206. However, key sectors like education, healthcare, and retail remain strong drivers of employment opportunities.
The region’s business ecosystem also showcased growth in residential building permits (up 17.7% from last year) and business counts (now 254,553, up 0.9% from the prior quarter).
However, the Chicago Business Barometer™ indicates softening business activity, signaling areas for strategic attention in 2025.
While growth in economic output and employment shows resilience, shifts in job postings and business activity demand innovative approaches to talent acquisition, supply chain resilience, and investment strategies. The region’s increasing trade value at O’Hare and expanding residential construction demonstrate Chicago’s growing dominance as an economic engine—both nationally and globally.
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