Chicago Top. Ranked TD&L Hub in the U.S., Business Facilities Magazine

Chicago stands at the U.S. crossroads of transportation, distribution and logistics (TD&L). Chicago-based companies benefit from central location advantage, diverse talent pipeline, and ever-evolving and growing logistics tech and innovation. On the heels of today’s report, Chicago was recognized as a top business hub by Business Facilities magazine (March/April 2022). Chicago is a city of movement, transporting people, goods, and new technology across the nation and around the world.

The World Business Chicago Research Center found an 802 percent increase in Logistics Tech growth capital since 2019 in the Chicago area, stemming from an upsurge in e-commerce, the global supply chain crisis, and increased demand for emerging and accelerated tech like blockchain. Consider:

• Logistics tech has raised $1.38B in growth capital 2021, up from just $0.15B in 2019.
• Chicago growth capital investment beat out New York by 301 percentage points between 2019-2021,
• Over 100 locally headquartered companies that employ over 34,000 individuals

According to World Business Chicago, Chicago is a key e-commerce and transportation hub; this being a significant draw for companies looking to grow and expand, especially including those seeking to tap into the 6 of 7 class I railroads run through Chicago. Chicago’s TD&L market is one of the nation’s largest, employing over 260K individuals generating $24B annually.

Within the larger verticals of Chicago’s ecosystem, Logistics Tech has the second-highest growth in investments in 2021. This tech ecosystem now comprises 5 unicorns and 2 publicly held companies, the median post-deal valuation increased to $190M from $50M in 2020, demonstrating the size and maturity of Chicago logistics tech firms.

In conclusion, the April, 2022 edition of The WBC Research Center, Chicago Business Bulletin reports:

• Growth in value and size of Chicago logistics tech firms attracts more venture capital, private equity for growth and corporate VC
• Chicago is a market of choice for corporate relocations and expansions offering a unique blend of a maturing VC ecosystem, a legacy TD&L industry and a diverse talent pool
• Innovation labs in Chicago are taking advantage of the opportunity to develop underrepresented vertical segments, supporting early-stage firms, and capturing more and diverse tech talent.

Read the full press release: https://www.prnewswire.com/news-releases/chicago-positioned-for-growth-in-logistics-tech-301527890.html