Chicago Named 'Top Metro' for Corporate Relocations and Expansions

Chicago Named 'Top Metro' for Corporate Relocations and Expansions

March 03, 2006

2005 Survey Makes Four Out of Five Years That Chicago Leads

    CHICAGO, March 3 /Xinhua-PRNewswire/ -- Chicago reigns
as "Top Metro" for 2005 in Site Selection
magazine's annual business investment survey of American
cities.  The distinction recognizes metropolitan Chicago as
2005's economic development leader, with $6.5 billion of
corporate capital invested in 389 projects.

    Chicago has topped the worldwide economic development
publication's list for four out the past five years. 
"A resurgence of corporate capital flowing back into
Chicago has made the Second City No. 1 again," began
the Atlanta-based Site Selection's awards story.

    "Chicago offers world-class business resources
coupled with an unparalleled quality of life," said
Mayor Richard M. Daley. "As one of the most
economically diverse cities in the United States, Chicago
provides businesses stability, support and opportunities
for growth."

    At the center of the American economy, Chicago is
benefiting now more than ever from global trade.  The
city's global position, combined with its unique and
dynamic business environment and its unparalleled quality
of life helped lead to the top ranking.

    "High-end financial, IT, creative and strategic
jobs are strong and growing in numbers here," said
Paul O'Connor, executive director of World Business
Chicago.  "Companies that abandoned the city 30 years
ago are coming back and revitalizing and rebuilding the
city and its neighborhoods, bringing top talent back into
the city and, in turn, bringing more companies back."

    "The next thing we are looking for is the next
wave of foreign investment as China puts more money into
the U.S.," O'Connor was quoted as saying in the
article. "We have to convince the Chinese that Chicago
is a great place to do business."

    Companies that have committed to large facilities in
the past year include CNA Financial Corp., Mittal Steel
USA, Fifth Third Bank, William Wrigley Jr. Company, CDW,
TTX, Global-NetXchange, Google and Giuliani Capital
Advisors, former New York Mayor Rudy Giuliani's national
financial firm.  

    Chicago, with 389 projects, unseated Dallas-Fort Worth,
which held the title of top destination for corporate
America in 2004, by 80 projects and nearly tripled New
York's total of 102 projects in 2005.

    "A strong and healthy business community is as
important to Chicago's vitality as is the diverseness of
its neighborhoods," said Lori T. Healey, Commissioner
of the Department of Planning and Development.  "A
goal of Mayor Daley's administration remains focused on
strengthening our business climate by creating
opportunities for continued growth and sustainability and
that will encourage businesses to expand or relocate in
Chicago."  

    "Site Selection commends the Chicago Metropolitan
area on its impressive, first place performance in our 2005
'Top Metros' ranking," said Mark Arend, editor of Site
Selection magazine. "The efforts of the city, World
Business Chicago and the rest of the economic development
community in the region are clearly paying off in new
projects and, more importantly, in new jobs for the
area."

    Site Selection's annual rankings are considered
"the industry scoreboard" for economic
development.  To be counted, new and expanded facilities
have to involve a capital investment of at least $1
million, create at least 50 new jobs, or add 20,000 square
feet of new floor area.  For the complete list of "Top
Metros" or more information on the survey visit
http://www.siteselection.com . 

    About World Business Chicago

    World Business Chicago (WBC) is a not-for-profit
economic development corporation chaired by Mayor Richard
M. Daley and directed by Paul O'Connor.  WBC markets
Chicago's competitive advantages, coordinates business
retention and attraction efforts, and seeks to enhance
Chicago's business climate by being a thought leader in
economic development policy.  For more information, visit
http://www.worldbusinesschicago.com or call (312)
553-0500.

    About Site Selection

    Site Selection magazine is an award-winning trade
publication that covers corporate real estate and economic
development.  With more than 44,000 corporate executive
readers, Site Selection provides timely news and analysis
on the biggest deals making news in project activity.

    For more information, please contact:

     Karley Sweet,
     World Business Chicago
     Tel:   [phone]
     Email: [e-mail] 

     Carolyn Kae Phillips,
     World Business Chicago
     Tel:   [phone]
     Email: [e-mail]

SOURCE  World Business Chicago