World Business Chicago

We’re thrilled to unveil a new monthly feature that takes you behind the scenes of economic development in Chicagoland! From corporate relocations to expansion success stories, World Business Chicago is driving pro-Chicago decisions that fuel our city’s growth. Today, we’re proud to spotlight an exciting pro-Chicago decision: Adyen’s expansion into Chicago! This global fintech leader has chosen Chicago for its first engineering hub outside the Netherlands. By tapping into the city’s diverse talent pool, thriving tech ecosystem, and strong Dutch connections, Adyen is driving innovation and growth while reinforcing Chicago’s status as a global fintech powerhouse.

Site Selection Magazine, the national media for corporate relocation, reports that Chicagoland's bio-tech ecosystem—powered by a burgeoning talent pool, industry partnerships, cutting-edge institutions, and the city's ability to turn big ideas into even bigger results—is driving strong growth.   From Chan Zuckerberg Biohub Chicago and the Chicago Biomedical Consortium, both of which currently perform industry-leading scientific research supported by leading talent from University of Chicago, University of Illinois Urbana-Champaign and Northwestern University, read more about Chicago's resonance for life science in the current issue of Site Selection Magazine: https://lnkd.in/gq5TJWU6

Wrapping up a year of impactful collaboration at World Business Chicago’s final Board of Directors meeting for 2024 hosted at Jenner & Block! 🏆 Key partnerships, including $667M in grants and major projects like PsiQuantum and O'Hare modernization, showcase the power of public-private collaboration for driving business growth in Chicago. The future of Chicago is looking bold, inclusive, and transformative. Excited for what 2025 holds! 

This Megaproject Monday, we're looking at two transformative projects that received final zoning approval last week, marking major milestones for Chicago's south side. A number of zoning changes were approved that will allow the CTA to extend the Red Line south to 130th Street. The 5.6-mile Red Line Extension project aims to move the end of the CTA’s South Side Red Line from 95th Street to 130th Street. The agency plans to build new stations at 103rd and 111th streets near Eggleston Avenue, at Michigan Avenue near 116th Street and at 130th Street near Altgeld Gardens. Read more: https://lnkd.in/gKrrcTx3   Chicago’s City Council has cleared the way for a multibillion-dollar quantum computing campus to be built on the former U.S. Steel South Works site in South Chicago. The Illinois Quantum and Microelectronics Park, anchored by Silicon Valley tech startup PsiQuantum and managed by a University of Illinois-led organization, is planned for 128 acres on the southeast corner of the site. Read more here: https://lnkd.in/g2GiGRZt

IBM, in partnership with the State of Illinois and leading academic institutions—including the University of Chicago, University of Illinois Urbana-Champaign, Chicago State University, Northwestern University, and City Colleges of Chicago—is bringing the National Quantum Algorithm Center to the Illinois Quantum & Microelectronics Park (IQMP) on Chicago’s southeast side.   This milestone didn’t happen overnight, nor did it happen in a silo. It took many city, regional, and state partners working together to make this a reality. We can still remember back in February 2024, on a freezing day much like today, when World Business Chicago proudly led tours of the former stockyard site for PsiQuantum officials, showcasing its potential to become a hub for cutting-edge quantum innovation.   Now, with the System 2 Quantum Computer and the new quantum algorithm center, the IQMP will empower quantum businesses and researchers to unlock groundbreaking solutions to global challenges.   Why Chicago? Our city’s unparalleled ecosystem of quantum pioneers—including academic institutions, national labs, and leading industries—solidifies its position at the forefront of innovation.   We’re proud to have played a part in the journey to this incredible milestone and look forward to continuing to drive quantum as an industry where Chicago leads the way.

Over the past decade, Chicago has strengthened economic ties and deepened its collaboration with eight Chinese cities—Beijing, Shanghai, Tianjin, Qingdao, Shenyang, Hangzhou, Wuhan, and Chengdu.   We continued this collaboration last Monday as we welcomed a delegation of 20 Chinese civic and business leaders to Chicago. Mr. Minqiang Liu, Director-General of the China Investment Promotion Agency, led the group.   Over 30 local Chicago companies and organizations joined us for a roundtable meeting at Katten Muchin Rosenman LLP to welcome this distinguished delegation and celebrate Chicago’s vibrant connections with the world’s second-largest economy. The delegation also had a chance to tour Portal Innovations, LLC Innovations, giving the group a glimpse into Chicago’s cutting-edge biotech ecosystem.   Thank you to Feng Xue 薛峰, Katten Managing Partner and Co-Chair of the China Committee of Chicago Sister Cities International, for hosting the roundtable meeting and being a great advocate of Chicago-China relationship—and to Portal Innovations for hosting our guests.   Special shoutout to our fantastic team, Kyle T. Schulz, Karla Ruth Orozco Toledano, Yiyun (Tanya) Tan, Adrienne Tongate, Anel Montes Marchan, Karissa Perez, Carla Agostinelli, Mirah Z., and Maggie Rosado, for making this happen!

Global partnerships are vital to promote business and drive public sector innovation—Last Thursday, our Global Strategic Initiatives team hosted an engaging best-practice dialogue between the City of Chicago’s Chicago Department of Business Affairs and Consumer Protection (BACP) and an incoming delegation from the University of Indonesia and the Ministry of Investment and Downstreaming. A key highlight was an insightful exchange on streamlining online business licensing and how it can support businesses on a global scale. The World Bank has recognized Chicago as a leader in developing advanced online business licensing systems. Chicago stands out for its user-centered design, regulatory transparency, and seamless integration of digital tools, setting a benchmark for efficiency and innovation. Thank you to our delegates and BACP leaders for facilitating this dialogue in the WBC office. Syama Gopan | Ivan J Capifali, MBA | Jerel Dawson | Max Budovitch | Shannon Trotter | Eric Tenfelde

Our final Board of Directors meeting for 2024 wrapped up a year of impactful private-public collaboration, focusing on transformative Pro-Chicago initiatives and bold visions for the future.   Hosted by Wade Thomson at Jenner & Block’s downtown office, the meeting featured remarks from Chicago Mayor Brandon Johnson and Cook County President Toni Preckwinkle, who reflected on a year of growth, resilience, and innovation.   WBC CEO Phil Clement highlighted key milestones, including the $667 million in grants secured for regional economic projects, the success of the 2024 Chicago International Gala, and advancements in major initiatives like PsiQuantum’s quantum campus and the modernization of O’Hare International Airport.   Charles Smith, WBC Vice Chair, captured the spirit of the meeting: “There’s no shortage of big ideas for the city. We have a chance to build on our momentum and create a future for Chicago that’s bold, inclusive, and transformative.”   The meeting also spotlighted global collaborations, with updates from Google Chicago/Midwest President Karen Sauder on their growing HQ and PGA TOUR Executive Director Joie Chitwood III sharing economic projections for the 2026 Presidents Cup.   Looking ahead, Chicago’s cultural vibrancy, tourism, and bold vision for Chicago 2050 remain central to WBC’s work. Q4 has been an active quarter—and we’re just getting started. The board meeting concluded on a festive note with a performance from the Chicago Goodman Theatre, reminding us all of the creativity and culture that make this city one of a kind. Here’s to an even brighter 2025 in the greatest city in the world!

Congratulations to the leaders recognized in Crain's Chicago Business' latest list "new faces in new places." These outstanding individuals, many of whom are members of, or partners with, World Business Chicago, exemplify the indomitable spirit of our city—where collaboration, innovation, and rolling up our sleeves define who we are. From executive staff to board leadership and partners, this list highlights the dynamic people driving progress across Chicagoland. Together, we are building Chicago’s future and solidifying our place as a global leader. View the full list: https://lnkd.in/gw554WcU Vamsi Bonthala Phil Clement Michael Fassnacht Jim Hart Karen Murphy Elle Ramel Tom Ricketts Charles Smith Andrea Zopp John W. Rogers, Jr. Cristina Pacione-Zayas, PhD Walgreens Kraft Heinz University of Illinois System

We’re proud to celebrate our Vice Chair, Charles Smith, as he shares his incredible journey on the Beyond Barriers podcast. 🎙️✨ Listen here: https://lnkd.in/gsA4UHNf Charles exemplifies determination, resilience, and integrity, inspiring us to overcome challenges and lead purposefully. 💬 "What is for me is for me. If I don't get something, it’s because something better is waiting for me." – Charles Smith Don’t miss this inspiring conversation!