World Business Chicago Insights: High-Growth Industries in Chicagoland | World Business Chicago

NEWS

01.09.2023

World Business Chicago Insights: High-Growth Industries in Chicagoland

World Business Chicago Insights: High-Growth Industries in Chicagoland

Life sciences and transportation sectors see strong growth

in Chicagoland region, according to new report out today

CHICAGO — A new report released today by World Business Chicago’s Research Center reveals strong growth in the life sciences and transportation sectors in the Chicagoland region. The report, “World Business Chicago Insights: High-Growth Industries in Chicagoland,” also found that finance and business and professional services are significant core industries in the area, while the manufacturing sector, particularly food manufacturing, has seen high rates of innovation.

The report was released in conjunction with the formation of the Greater Chicagoland Economic Partnership, a collaboration between World Business Chicago and the counties of Cook, DuPage, Kane, Kendall, Lake, McHenry, and Will.

The WBC Research Center analyzed regional data and trends to identify strengths and opportunities in the major industries of manufacturing, TD&L, fintech, healthcare and life sciences, and innovation. In its latest report, the Research Center has identified the key industries driving growth in the Chicagoland region as manufacturing, TD&L, fintech, healthcare and life sciences, and innovation. The report highlights the crucial role that innovation plays in driving industry growth in the region, which boasts a strong focus on R&D and a vibrant community of entrepreneurs and small businesses. Additionally, the report highlights the region’s strengths in business growth, accessibility to resources, affordability, and quality of life, and emphasizes the benefits of a unified regional strategy.

Hannah Loftus, World Business Chicago’s Regional Director of Research, said: “Chicagoland’s economy is one of the largest and most important in the nation. Business growth and innovation that happens here matters in a global context. As the most diverse economy, Chicagoland is poised for stability in economic downturns and offers residents access to high-quality jobs across all industries. Our hope is that this report provides valuable insights for businesses looking to relocate, expand and grow in the Chicagoland region.”

This data in this report is sourced from several key sources, including the U.S. Bureau of Labor Statistics, Moody’s Analytics, Lightcast, and Pitchbook.

The report is available online at worldbusinesschicago.com/research. Here, too, you will find other publications focused on accelerating and growing industries and newly emerging ones.

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