Chicago leads North America in FDI for the fifth consecutive year

Mayor Rahm Emanuel has announced that, for the fifth year in a row, the Chicago metropolitan area leads North America in foreign direct investment (FDI), according to the 2017 IBM Global Location Trends report. The annual report outlines the latest trends in global corporate location selection and shows Chicago’s rank has risen sixth globally, up from seventh in 2015.
“Investors and companies around the world increasingly see Chicago as a global city where they can grow and prosper,” Mayor Emanuel said. “Foreign investments in Chicago drive job creation and economic opportunities across the city, which is why we will continue to strengthen our position as a premier destination for companies making decisions on the best places to commit their resources.”
Chicago is the only North American metro area ranked in the top 15 cities in the world, trailing only London, Amsterdam-Rotterdam, Paris, Bangkok and Singapore in terms of the total number of FDI projects. Additionally, Chicago ranked first among US metropolitan areas for overall job creation through FDI (more than 7,000 jobs), as well as, in jobs created by both domestic (out-of-state) and foreign investment (more than 18,000 jobs).
“Cities continue to be increasingly important economic development engines,” said Roel Spee, Global Leader IBM-Plant Location International. “Chicago’s consistent ranking as the top city in North America for the number of significant investment projects, and a leading U.S. city for job creation from foreign direct investment signifies that Chicago is a key global economic destination.”
A leading hub of international business activity, Chicago is home to more than 1,800 foreign-based companies, accounting for more than $100 billion in FDI. World Business Chicago continuously works to increase FDI with initiatives, including its Gateway Cities agreement with eight Chinese cities, its Global Cities Economic Partnership with Mexico City and its Chicago-London Data Alliance with London.
The Mayor has also led a number of trade delegations on international missions designed to drive investment and job creation in Chicago. Following a recent trip, London-based iam bank named Chicago its global headquarters.
The IBM Global Location Trends report shows where companies are locating, expanding and creating jobs around the world. Projects must meet IBM criteria, including having created more than 10 jobs, to qualify. For the complete IBM report, visit: www.ibm.biz/gltr2017.