Chicago Receives Top Recognition for Foreign Direct Investment Efforts
World Business Chicago Receives fDi Magazine FDI Strategy Award for International Outreach; Efforts Have Helped Chicago Lead Nation in Foreign Direct Investment for Five Consecutive Years
Mayor Rahm Emanuel and World Business Chicago (WBC) today announced that fDi Magazine has recognized WBC with the 2017 Foreign Direct Investment Strategy Award for its international outreach, and received the highest rank in the Americas for Best Investment Promotional Agency. As the city’s public-private partnership for economic development, WBC helped establish a range of initiatives to expand Chicago’s international presence and foreign investment.
“Chicago is a global city, and we are constantly expanding our engagement with partners around the world to create jobs and strengthen communities here at home,” Mayor Emanuel said. “With the support of World Business Chicago, we have become a leader in the international community through our network of partnerships that transcend national borders and support inclusive growth for Chicago residents.”
“The recognition is a result of our relentless efforts in connecting Chicago with international markets,” Andrea Zopp, President and CEO of WBC said. “We see an opportunity in using international investment to help Chicago grow more inclusively and promote it as a world-class city and economic powerhouse.”
The fDi Magazine ranking follows another leading recognition in FDI – the 2017 IBM Global Location Trends report, which ranked Chicago number one in foreign direct investment for five consecutive years. Chicago was the only North American metro area ranked in the top 20 cities in the world.
fDi Magazine recognized WBC as a “highly commended” investment promotion agency (IPA)—ranking second only to the global winner Invest Hong Kong—for its aggressive expansion efforts, projects to secure more foreign investment and collaboration with other city agencies. WBC was also acknowledged for its smart-city initiatives in 2017.
WBC’s efforts center on helping to forge partnerships with Chicago’s international community, as well as key international constituents. Chicago is home to more than 80 consulates and honorary consulates, 100 international/ethnic chambers of commerce and international trade-based organizations, and over 1,800 foreign-based companies that invest more than $100 billion in foreign direct investment.
Additionally, the City of Chicago and WBC have created strategic partnerships with governments across the world to drive economic growth. Since Mayor Emanuel took office, four agreements have been signed: Gateway Cities Agreement with the Ministry of Commerce in China; the China Cities and U.S. Chicago Gateway Cities Business Accelerator Program; the Global Cities Economic Partnership between Chicago and Mexico City; and the Chicago-London City Data Alliance. Each unique partnership continues to drive growth in Chicago.
fDi Magazine is a bi-monthly specialist publication which reports on cross-border investment. The magazine is part of the fDi Intelligence division of the Financial Times. View more information on the rankings.
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