Introducing Chicago 2050
Chicago is in the midst of a dramatic economic transformation. In the emerging economy, “creative destruction” is disrupting industries, occupations, and places, while new products, firms, and markets are rapidly arising. The fusion of digital, physical, and biological technologies is driving a “fourth industrial revolution,” characterized by an exponential pace of change, and creating the conditions for an economic renaissance.
Introducing Chicago 2050
This economic transformation generates enormous possibilities for new wealth creation, creating an opportunity for Chicago to reimagine its economic future. As it happens, Chicago has tremendous assets not only to compete in but to actively lead the economic renaissance:
World-class educational and research institutions, affordability, a dynamic workforce, cultural vibrancy, a diversified economy, a unique geographical position, values, and dedicated civic leadership
Chicago needs a new plan that sets it on a path to prosper in the next economy. For World Business Chicago, this means launching both a strategic plan for the next 5 years (Chapter 1), and a forward-thinking strategy for the next 25 years (Chapter 2).
These interventions span several strategic areas:
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Business and Capital Development
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Marketing and Visibility
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Innovation
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Adaptable Workforce
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Regional Partners
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Vibrancy
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Corridors and Districts
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Easier Business and Building
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Civic Leadership
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Key Infrastructure
Some examples of proposed initiatives include:
Chicago 2050 builds on and amplifies Mayor Johnson’s economic agenda, Build Better Together—serving as a forward-looking, data-driven complement that deepens the city’s long-term strategic focus.
The Johnson Administration is executing an ambitious agenda to advance inclusive economic growth:
- Quality and Affordable Housing for All: To create sufficient, quality affordable housing units so residents have options and can choose to rent or own in any of the 77 neighborhoods.
- Business, Innovation, and Job Growth: To be a hub for thriving businesses of all sizes, innovation, and a workforce and training ecosystem that aligns with the needs of employers.
- Neighborhood Investments and Vibrant Communities: To define, preserve, showcase, celebrate, and enhance the vibrancy of our communities’ cultural identities through commercial corridors, public art, and outdoor spaces.
We engaged over 100 of companies and organizations across the Greater Chicagoland Area, including:
