Chicago Loop Alliance’s Michael Edwards Shares Global Insights on Downtown Investment

This week in The WBC Business Pulse powered by LinkedIn, we’re spotlighting a vital voice in our ecosystem: Michael Edwards, President & CEO of the Chicago Loop Alliance.

Representing Chicago on a global tour of business districts—from London and Beijing to Bangkok—Michael saw firsthand the shared challenges and bold strategies shaping the future of downtowns. His takeaway? Chicago’s Loop plays a critical role in our regional, national, and global economic relevance—and we must continue to invest in its vibrancy, sustainability, and innovation.

By: Michael Edwards, President & CEO, Chicago Loop Alliance

Successful innovation is dependent on the collaboration of unique perspectives, and that is no more evident than at the annual convening of the Global Business District Innovation Club. In June, I joined over a dozen business district leaders from China, London, Pittsburgh, Toronto and Thailand in a multi-country tour of business districts leading the way for investment and innovation.

Throughout the course of the weeklong immersion, three overriding themes emerged:

1. Business districts are facing increased population growth and longevity putting pressure on their sustainability efforts.
2. New technologies are resulting in disruption that will create opportunity if utilized effectively.
3. Dynamic environmental changes – both socio-politically and physically – will require new district governance models for sustained growth.

Convening of minds

I had the opportunity to meet with business district leaders in Canary Wharf, London, Beijing, China and Bangkok, Thailand.  Tours throughout their distinctive business districts allowed me to compare the work of the city of Chicago and Chicago Loop Alliance to downtowns facing similar and unique challenges.

At the UN Asian Mayor’s Forum in Beijing, I participated on panel discussions and made a presentation on the Future of Business Districts on the topic, Drivers of the Global Economy.

The Forum, sponsored by the United Nations, gathered mayors, dignitaries, colleagues and fellow leaders of urban business districts.  I remarked that, while the Chicago Loop continues its comeback from the effects of the pandemic, the Loop is also benefiting, like Asian business districts, from new opportunities. Highly innovative industries such as quantum computing, artificial intelligence, advanced manufacturing, new sustainability strategies and 100% clean energy technologies generate new economic models and impact the Loop’s future.

So what?

What was obvious to me is that global competition requires Chicago leadership (and citizens) to recognize the importance the Loop plays in the regional, national and global economy.  Locally, the Loop contributes 15% of the city’s tax base; nationally it is the leading city of the Midwest; and globally it is recognized as one of the vital, world-class business district.

Through our continued investment in public transit, new governance models like a Loop-wide Business Improvement District, and a downtown with attractive and compelling amenities befitting international talent will be essential to keeping Chicago relevant in comparison to London, China, Bangkok and beyond.

Click here to view a selection of photos from Michael’s international tour of leading global business districts.

At World Business Chicago, our Research Center is continuously curating actionable data and insights to inform strategies that enhance Chicago’s competitive edge—across sectors, borders, and future-focused priorities like quantum, AI, and advanced manufacturing. This work underpins the forthcoming Chicago 2050 plan—a bold roadmap for inclusive, long-term economic growth.

This week, Wendy Wu, Research Director, helped spotlight the evolving economic relationship between Chicago and China, fresh off her recent visit to China with her son. A few key insights from her analysis:

• $4.67B in Illinois exports to China in 2024—a 5.8% increase over 2023
• $42.06B in Illinois imports from China—ranking 2nd among U.S. states
• 4,925 Illinoisans employed by Chinese firms across 85 subsidiaries
• 76,466 Chicago MSA residents identify as Chinese in origin
• Sister city ties with Shanghai and Shenyang continue to deepen people-to-people and business-to-business connections

Special thanks to Michael Edwards for his thoughtful contribution and global perspective. If you’re a business leader with insights to share on Chicago’s economy, innovation, or growth industries, we invite you to be a future guest contributor to The WBC Business Pulse powered by LinkedIn.