8 Chicagoland Wins We’re Carrying into 2024 | World Business Chicago

NEWS

01.10.2024

8 Chicagoland Wins We’re Carrying into 2024

1. The Chan Zuckerberg Chicago Biohub

$250 million in investment was attracted for the Chan Zuckerberg Chicago Biohub, a huge win for the Life Sciences sector and cutting-edge research, beating out other major metro US cities.  The Biohub is now ready to open at its permanent home in Fulton Market. Congratulations Shana Kelley!

Ad from the WSJ with Life Sciences imagery
Wall Street Journal advertisement from March 1, 2023 congratulating Chicago on being named the new home for the Chan Zuckerberg Biohub.

2. Economic Growth in the South & West sides

800 new jobs were created by the Community Impact team in the South and West sides. 500+ Black and Latino owned businesses were supported with 16 provided access to crucial capital.  Applications for the 2024 cohortof the Black and Latino Excellence Investment Summit are now open.

Group of diverse awardees with some holding plaques
The 2023 Cohort of the Black and Latino Excellence Investment Summit with the Community Impact team.
out door reception with glass orb light fixtures and people socializing
Pre-summit happy hour at The Bridgeport Art Center.

3. The Research Center Answered 300 RFIs

The Research Center at World Business Chicago answered the call of 300 requests for insights and information from the Chicago business ecosystem. Together with GCEP partners, the team created a Regional Asset Map highlighting Chicagolands’ economic assets, while continuing to publish the Chicago Business Bulletinsand deep dive reports.

The 2023 Year-In-Review will be release in the coming months.

four women hold up booklets marked "year in review"
The Research Team at World Business Chicago.

4. Big Regional Wins for Tech, Innovation, and Environmental Justice

Collaborations with Innovate Illinois has secured designation status for two regional tech and innovation hub competitions for $40-$70 million in funding, and $1 billion to advance economic and environmental justice goals. Regional wins in 2023 will continue to drive impact in 2024.

view of the city of chicago with lots of greenery
Image sourced from the Chicago Quantum Exchange.

5. Two Sister City 50-Year Anniversary Celebrations

The Chicago story abroad was celebrated with 78 internationally themed events, 51 international business and trade delegations, and 50th anniversary celebrations with two sister cities Osaka and Milan. We cherish the strong ties between us, and all the sister city relationships we have.

group photo stamped with chicago-milan 50 year anniversary stamp
Deputy Mayor Kenya Merritt with members of the Consulate General of Italy, the Sister City Milan Committee, and the Global Strategic Initiatives team at World Business Chicago.

6. The Chicago Venture Summits Attracted 1800+ Professionals to Chicago

2023 saw the return of the mega popular Future-of-Food and the inaugural Future-of-Climate-Tech to support an ecosystem of over 1800 startups, investors, and innovators driving Chicago as a global destination for tech and innovation. The 2024 sector specific summit announcements are ones to look out for!

two women sitting on armchairs on stage with future of food written behind them
Fireside chat with CEO Diane Primo and President and Chief Business Officer Ferrero North America Alanna Cotton.
4 women sitting in chairs on stage with climate tech written behind them
The first ever Chicago Venture Summit Future-of-Climate-Tech.

7. The Chicago Food Stop Set Up Shop at 875 N. Michigan Ave

The first ever food themed pop-up activation, the Chicago Food Stop, opened on Michigan Ave! 875 N. Michigan(the former John Hancock) was home to CPG products from 82 local small businesses between December 2022-September 2023 pulling in 8700 visitors. The Public Sector Investment Strategy team secured federal funds to bring recovery dollars to Chicagoans through the Chicago Food Stop. The team continues to be committed to this mission in 2024.

3 women in native american dress dance
The Chicago Food Stop hosted events in the space regularly to drive foot traffic downtown to the pop-up featuring goods from small business owners.
a man and a woman converse at a coffee bar
Over 82 small businesses and artisans set up shop at the Chicago Food Stop.

8. There were 138 Pro-Chicago Decisions Made in 2023

A total of 138 Pro-Chicago decisions (PCDs) were secured, leading to 20,203 jobs! Of those 138 are US based companies who expanded into Chicago such as LYON & HEALY HARPS, INC., Lactalis Heritage Dairy, and UNIS , with new market entrants like Optiver , and groundbreakings with companies such as The Fields PCDs also include international companies Ravago, Rapyuta Robotics, Redberri Corporation, White Tuque, Trifork, and CADDi.

ribbon cutting with 7 men at rapyuta robotics
Image sourced from Rapyuta Robotics.
4 men and 1 woman pose in a corporate setting
The Lactalis Group opened their doors to share the Lactalis Experience.

The World Business Chicago Year-in-Review report along with the Greater Chicagoland Economic Partnership report will both be released in the coming months. We look forward to continuing to drive economic development in Chicago and the region in 2024.

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