Chicago 2050

Executive Summary

A commitment to growth, assets to lead.

With this plan, World Business Chicago will ensure Chicagoland is an economically robust and culturally vibrant hub, standing firmly among the world’s top 20 regions — top three in the U.S. — and leading the Midwest, by leveraging our unique assets. That means growing to a regional economy with $1.4 trillion in annual output and 5.05 million people employed by 2034.

We are a global super-region and can lead as the global economy changes amid emerging technologies and geopolitical shifts. Our extraordinary assets — a diverse and resilient economy, strong infrastructure, top-tier educational institutions, affordability, and a legacy of innovation — are catalysts for growth and solidify our value for investment.

The time is right to update World Business Chicago’s economic growth plan, and we have a solid platform from which to launch.

This plan is a refresh of our 2012 Plan for Economic Growth and Jobs (PEGJ). Here, we lay out an updated set of priority industries and strategies for growth, backed by rigorous analysis that helped us identify industries based on economic impact and job density. Hundreds of stakeholders across the region’s business ecosystem helped WBC shape impactful strategies. In this plan, equity is inherent and critical for growth.

Priority Industries

World Business Chicago’s economic growth strategy focuses on retaining and expanding Chicagoland’s priority industries, which are poised for high-growth, high-specialty, or high-strategic impact. These include:

Strategies for Growth

WBC embraces Chicagoland’s competitive advantages and views business and economic growth as levers for positive change. We’ve categorized our near-term strategies into three main areas:

Work has already started, and we’re looking to the future. Later this year, WBC will launch Chapter 2 of this plan. We’ll boldly envision what the 2050 economy could look like based on this report’s framework. And we’ll update the plan every five years.

In short, this document is the road map for economic growth that is sustaining, innovative, globally integrated, and inclusive.

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