Chicago Politics

World Business Chicago Announcement 3.2.26

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Mayor Brandon Johnson joins World Business Chicago for a major announcement.

Transcript

0:18 All right. Good morning. Welcome. I am Phil Clement. I'm president and CEO of World Business Chicago. And it is fitting that we are gathered here in a space dedicated to reinvention. Chicago is a city built on reinvention. And today we add another chapter to that story. When an internationally acclaimed artist like David Byrne chooses Chicago as the home for theater of the mind, when he could have built it in any cultural capital in the world,

0:50 he's saying something about who we are. He's affirming our creative energy, our talent, and our place among the world's cultural and economic engines. And the theater of the mind is one part of a much bigger story unfolding across this region. Projects like The Hand in the Eye, Universal Horror Unleashed, the F1 Arcade and the former Rock Bottom Brewery, The Warner Brothers' Harry Potter experience, and then there's the mega projects, the Obama Presidential Center, the 1901 project, the 78, Navy Peers' new activations.

1:29 These are not isolated winds. This is evidence of a broader shift. Chicago is where culture, experience, investment, and innovation now intersect. And increasingly, that intersection is an important part of our economic strategy. I want to welcome and thank the leaders we work for here at WBC and the partners we work with who make all of this possible. First, our leaders, Mayor Brandon Johnson, Chairman of WBC, Deputy Mayor and Commissioner Kenya Merritt, and WBC Vice Chair Charles Smith.

2:11 Partners, the Greater Chicagoland Economic Partnership, represented today by its Vice Chair, Doug Pryor. and leaders across the civic, private, and cultural sectors here in the room and joining us live stream who believe in the future of this region and invest in it every day. What brings us here this morning is not just an announcement, it's a reality that companies, investors, and global decision makers already understand. Chicago is one of the most resilient, best-connected, opportunity-rich regions in the world.

2:45 and the data proves it. We have the most diversified economy in America, larger than Sweden and Belgium. We lead the nation in employment across key industries, manufacturing, food production, transportation, logistics, financial services, and emerging tech like green energy and quantum. We are the nation's number one port by trade value in both inland water and in air, with O'Hare handling $423 billion in goods, more than any coastal port in the United States.

3:20 I have some more. We are the number one airport in flight originations. We are the home to the largest supply of industrial real estate in the country, and our workforce is not only skilled, it is renewable, adding roughly 145,000 new college graduates every year. These fundamentals are the backbone of our global competitiveness. And now, for the first time in over a decade, our region has a refreshed long-term roadmap built to harness these strengths and convert them into a sustained compounding growth.

3:56 Chicago 2050, the city's region economic playbook for growth and jobs. Chicago 2050 is built on one truth. Growth is how we meet this moment. Growth in companies, growth in jobs, growth in people, and growth in our tax base. Because a growing economy strengthens our fiscal outlook and our shared prosperity. Since launching Chicago 2050 last November, we've activated several strategies,

4:30 beginning with Shive Forward, our capital recruitment platform, led by Vice Chair Charles Smith. Shy Forward is coordinating how we move opportunities from interest to investment to jobs, including global outreach, cluster development, and regional collaboration through GSEP. This is the work that will define Chicago's next decade of expansion, and this is the moment to accelerate it. And now. To officially announce the news that brings us together this morning, it is my great pleasure to introduce the mayor of a city second to none, Mayor Brandon Johnson.

5:15 Thank you so much, Phil, for your leadership and for that introduction. Good morning, everyone. I want to thank everyone for being here today to celebrate a great day for the city of Chicago. Minutes ago, Site Selection Magazine lifted its embargo on an exciting announcement. And I'm pleased to share that Chicago has once again been named the top U.S. metro for corporations relocating 13 years in a row here in the Chicagoland area.

5:51 And cut. Let's try that one more time. I'm pleased to share that Chicago has once again been named the top U.S. metro for corporate relocation and site selection for the 13th consecutive year. The ranking is based on verified corporate facility projects, square footage, job creation. It is one of the country's clearest measures of real economic and business expansion. It is clear to see why we earned this honor once again.

6:24 In 2025, World Business Chicago tracked more than 200 corporate expansions, relocations, and new market entrants. Those decisions represent nearly 19,600 new and retained jobs, $1.7 billion in annual earnings, and more than 26 million square feet of commercial and industrial space across the city. One of the projects reflected in the site selection data is David Byrne's Theater of the Mind, produced in collaboration with the Goodman Theater, which is why we are gathered here today.

7:00 I do want to thank Mr. Friedman for your leadership and the Goodman Theater for hosting us and for being a shining example of our collective strengths. The collaboration between David Byrne and the Goodman represents how Chicago's cultural institutions advance innovation, active space, and it creates jobs. It is a kind of innovation and collaboration that helps our city to become the top U.S. Metro time and time again. When nearly one in five qualifying corporate projects among the nation's top metro land in Chicago,

7:37 that is a clear signal for our strengths and our staying power. Chicago is seated at the center of North American trade, where rail, road, air, and water intersect with unmatched volume and velocity. We operate the busiest multi-model freight network in the entire country. And this January, get ready, you all, O'Hare International Airport was named the busiest airport in the country. In addition to that, it had the busiest summer in its 70-year history.

8:12 Chicago is anchored by a powerful network of universities, national laboratories, and federal research centers that move our entire nation forward while attracting federal investments and talent to Chicago. But perhaps the most powerful thing of all is our people. We make up our 5.5 million person workforce across a wide variety of industries. Companies choose Chicago because of our infrastructure, our talent, our research capability, and unparalleled global connectivity,

8:42 and that is a hard recipe for other cities to replicate. It is not just the strengths within the city limits that are attracting companies and investments here. Through the Greater Chicagoland Economic Partnership, city, county, and state leaders are aligned around a unified strategy to compete globally. By operating as one, we increase our skill and credibility. Being named the top U.S. metro once again is a point of pride for our city. But the data behind it matters because that data really speaks to our people.

9:17 When we grow our economy and attract investments, we expand our tax base. We create jobs, and we can fund the public services that our residents rely upon. Economic growth is a crucial component of my administration's commitment to building a safer, more affordable city for everyone. And it is reflected in the, as Phil indicated, the Chicago 2050, the long-term economic growth strategy. It's championed by my administration and implemented by World Business Chicago and many ecosystem partners.

9:48 Chicago 2050 outlines our path to grow our regional economy by approximately $950 billion today to more than $1.4 trillion by 2050. That would represent a 50% expansion of our economic base over the next generation. I know that's ambitious, but it is certainly possible. I want to acknowledge and thank WBC CEO Phil Clement and Vice Chair Charles Smith for their leadership in translating Chicago 2050 from strategy to execution.

10:18 Under their guidance, WBC is aligning business, attraction, sector development, and regional coordination around measurable outcomes. One of the first strategies launched is called Shy Forward, a platform to advance large-scale catalytic projects that will move our economy forward. And Charles will speak about that in just a moment. Our city's continued growth and success require all of our efforts to continue to coordinate, to use our imagination, and, of course, most of all, to follow through. I encourage everyone here today to download and read and share the Chicago 2050 report

10:53 and see how we are driving growth in an inclusive, long-term, and strategic way. And I want to thank everyone who contributed to Chicago being named the top metro in the U.S. for corporate relocations and site selection. Again, to the Board of Directors and staff at World Business Chicago, our partners across the Greater Chicagoland Economic Partnership, the entire business community from legacy and family-owned companies, our startups incubating in our labs and universities, to global firms who are choosing Chicago to start their next chapter here,

11:24 like Japan-based DMG MORI, who announced it will retrofit a facility on Goose Island into a 65,000-square-foot manufacturing center and 25,000-square-foot office space to serve as its North American research and development hub. And finally, a special thanks to someone whom I consider to be one of the hardest-working leaders in Chicago, currently wearing two hats. So thank you to our Deputy Mayor of Neighborhood and Economic Development and Commissioner of the Department of Cultural Affairs and Special Events, Kenya Mayer.

11:58 And so thank you all again for your continued work and support. So now, please accept to the podium WBC Vice Chair, Mr. Charles Smith. Good morning. My name is Charles Smith, and I have the pleasure of serving as Vice Chairman of World Business Chicago under the leadership of Mayor Brandon Johnson.

12:35 I want to thank you, Mayor Johnson, and your administration, including Kenya, for your partnership and your support of WBC over the last few years. I also want to thank our hosts, the Goodman Theater, Theater of the Mind, hosted by David Byrne, and other partners. As you are witnessing, we have a collection of dynamic and intersection of government, business, and culture that have all played a valuable role. Chicago is unmatched. No city in the country has ever achieved this.

13:11 It is not based on opinions or commentary. It is based on verified projects, jobs created, and capital invested. Companies are choosing Chicago because the fundamentals are here, the strategy is clear, and the leadership is delivering. Under Mayor Johnson's leadership, Chicago has been doing what strong cities do, winning with substance. Today highlights the success of a true public-private partnership where the results happen in tandem.

13:46 Last year, the city achieved the largest reduction in violent crime in nearly a decade, while continuing to secure billions in major public and private investments across the region. Every June, over 140,000 college grads are added to our workforce. At the same time, the city expanded youth employment to a historic 31,000 positions. I'm always thinking cash, but anyway. Strengthening the long-term workforce pipeline that companies depend on.

14:20 And our focus, opening new doors with local and global investors, are real accomplishments that reinforce why Chicago's momentum is strong. Site selections ranking underscores what so many of us know to be true. Chicago's economy is strong, infrastructure unmatched. Industry is diverse and resilient. Our culture and creativity continue to drive economic value. And the momentum across this region is measurable, not imagined, but we are not satisfied or done.

14:56 If we want to remain a city that competes for top rankings, business attraction, and company expansion, not just today, but in 2050, then every one of us has a responsibility to embrace and champion Chicago. Shy Forward, which comes out of our 2050 plan, translate that plan into action. It is a capital recruitment and economic accelerator platform designed to complement our business attraction work

15:26 was something equally essential, ensuring that capital, not just companies, continue to choose Chicago. The recognition from the site selection committee is a reminder that the signals are real, the momentum is measurable, and the collaborative strength of this region is working. Chicago is positioned to define the next decade of American economic growth. and with the leadership we have today, the partners standing with us in the city

15:58 and across all seven counties, and the momentum under our feet we are ready to seize today. If Chicago is where you live, where you work, where your business has grown, where you have assets and investment, or as simply as the city you love, join us as we continue and add more value to our city. Thank you. It is my pleasure to invite Doug Pryor, Vice Chair of the Greater Chicagoland Economic Development and President and CEO of the Will County Center for Economic Development to speak.

16:32 Please come to the podium. Good morning. That happens in rooms you're in. That's good. It's an honor to join everyone this morning to celebrate this extraordinary milestone for the Chicago region. Once again, leading the nation in corporate expansion and relocation. now 13 straight years, as Charles alluded to, this just doesn't happen in other places.

17:07 The Chicago region continues to perform so well here. I want to begin by thanking Mayor Johnson, Phil, the team at World Business Chicago for their partnership with the Greater Chicagoland Economic Partnership. The results we're recognizing today don't happen by accident. They happen when an entire region, cities, counties, businesses, civic organizations, choose collaboration over competition. Over the last year, companies large and small have made decisions to invest across Chicagoland,

17:40 strengthening our communities while reinforcing our position as one of the world's leading economic centers. These projects that have chosen the city of Chicago and the seven counties that make up the Greater Chicagoland Economic Partnership region represent growth in the diversity and momentum of our regional economy, but they also represent something much larger, a regional approach that works. The Greater Chicagoland Economic Partnership this year marked continued maturation.

18:14 We expanded our capabilities, our storytelling for this region, strengthened our global partnerships through the work of the team at WBC and the partners throughout the region, and align our counties around a shared strategy to attract industry that shapes the next economy for the Chicago region. When Chicagoland shows up as one region, we show up differently. We show up together, and we win as one region. And the projects that have already been listed here today really underscore that winning that's taking place here.

18:48 Today's recognition is more than a ranking. It's proof that sustained collaboration delivers investment, real jobs, real impact on our communities throughout this region. On behalf of the Greater Chicagoland Economic Partnership, thank you to the many partners, public and private, whose daily work makes this success possible and keeps Chicagoland competitive and growing. It's now my pleasure to introduce somebody who embodies that collaborative spirit and works tirelessly for the city, Deputy, I'm going to say the whole title again, Deputy Mayor for Economic and Neighborhood Development and Commissioner of the Department of Cultural Affairs and Special Events, Kenya Merritt.

19:36 Good morning again. Thank you so much, Doug, and congratulations to the entire Greater Chicagoland Economic Partnership. Your collaboration is a big reason why we're here today. So as you mentioned, when we compete together as one region, we win together. I also want to extend my deepest thanks to every company that made a pro-Chicago decision. Your expansions, your relocations, and investments fueled the results site selection released this morning that the mayor mentioned,

20:12 and we are so grateful, and we invite you to fully immerse yourselves in our great culture here in Chicago, our creativity, and most importantly, our neighborhoods. I'm not going to say the whole title again, but as Stephanie Mayer and as acting commissioner, I want to underscore something that's so incredibly important. Vibrancy is not separate from economic growth. It is a driver of it. Our cultural and live entertainment industries here in Chicago generate billions in impact,

20:45 support thousands of jobs, and activate neighborhoods across our city. Last year alone, independent live entertainment generated $2.8 billion in total output, supported nearly 17,000 jobs, and produced over $180 million in tax revenues. And those attendees contributed nearly $400 million in off-site spending. These are not side effects. These are economic fundamentals. For the first time, culture, arts, entertainment, and sports are explicitly named as pillars for our long-term economic strategy.

21:28 Chicago 2050. Not amenities, but economic engines. I am so incredibly proud to have served as co-chair of this strategic plan. Thank you so much, Phil, Charles, and Mayor, and look forward to coming before you in the weeks, the months, and years ahead as we continue rolling out initiatives that strengthen our cultural and vibrancy sector and tie it directly to job creation, talent attraction, as well as neighborhood vitality.

22:00 And that brings us to why we're here today. David Burns, Theater of the Mind, created with our partners at the Goodman, is a perfect example of vibrancy driving economic value. A globally known artist, a collaborative Chicago institution, a 15,000 square foot immersive production that will bring residents, visitors, and tourists into our downtown. And yes, one of the counted projects that contributed to this year's site selection ranking.

22:33 Let's be real. David Byrne could have chosen any city in our nation, but he chose Chicago. Let me say it again. David Byrne, one of the most inventive artistic minds of our generation, a creator who has never stopped pushing the boundaries of what's possible on stage, chose Chicago. He chose Chicago because this is where creativity scales.

23:03 He chose Chicago because we show up. Our residents and guests have an appetite and interest and experiences that they won't find anywhere else. He chose Chicago because this is where arts and industry reinforce one another. He chose Chicago because we are a hub for innovation, creative industry, and business. We are so incredibly thrilled to welcome Theater of the Mind to Chicago. and we know Chicagoans will flock to this experience.

23:35 And for those in the room, I have it on good authority. We'll get a little bit of a sneak peek after today's press conference. And for those that are watching online, previews start next week, and it officially opens March 23rd, so make sure you get your tickets. With that, I am so proud to introduce my cultural collaborator, John Collins, Executive Director at The Good Man, to share more about this remarkable project. John?

24:11 I'm going to ask you to do it one more time. Good morning. Mr. Mayor, members of the press, invited guests, welcome to Chicago's newest permanent cultural attraction, Theater of the Mind. Founded in 1925, this year the Goodman Theater celebrates its centennial anniversary season. Throughout all of that time, the Goodman has continuously reinvented itself, redefining what it means to be Chicago's flagship theater.

24:44 And when we begin performances in this space next week, Chicago will witness our next reinvention, a world-class immersive theater experience, an experience with the capacity to entertain and enlighten in the way that only live theater can, an experience that will contribute to the cultural and economic vitality of our downtown, an experience offered exclusively in Chicago. I can't think of a better way to celebrate 100 years of a theater built on reinvention in the city built on reinvention.

25:19 And throughout all those years, with every success, with every iteration, we double down and we reinvest in Chicago. In addition to celebrating 100 years, Goodman is also celebrating 25 years in our home on Dearborn, serving as the anchor of the North Loop Theater District, and ten years of service to our community in the Alice Rappaport Center for Education and Engagement and three years of Chicago's original resident magician, Dennis Watkins, performing the Magic Parlor in his new permanent home on Randolph Street,

25:51 each of these a reinvention, each of these a multiplying of our impact. Theater of the Mind will continue this tradition of investment and impact. With this addition, the Goodman will now serve roughly 300,000 people each year with an estimated annual economic impact of nearly $55 million. But let's be clear, it wasn't economic impact figures that closed the deal for David Byrne. It was our global reputation for creativity, for innovation, for civic leadership.

26:23 World-class cultural projects like this cannot happen without strong public-private partnership. And Chicago has always understood this. So when Goodman Theater Artistic Director Susan Booth raised this opportunity, our civic leaders answered the call, including Goodman's longtime development partner, Albert Friedman and Friedman Properties, the Chicago Department of Planning and Development, the Illinois Office of Tourism, and Northern Trust. The arts have always meant big business for Chicago.

26:55 Here we know that investment in culture not only contributes to the quality of life in our great city, but it drives business, and nobody knows that better than our friends at World Business Chicago. So to close us out this morning, please welcome back the president and CEO of World Business Chicago and Goodman Theater trustee, Philip Clement. All right, thank you. Thank you, Mayor Johnson, and thank you all for your partnership across the region.

27:27 What you heard today is more than recognition. It's a confirmation, backed by independent data, real projects, real jobs, and real investment, that Chicago's fundamentals are powerful, our trajectory is strong, and our opportunity is immense. Our job now is to turn that opportunity into long-term compounding growth, growth that expands our tax base, growth that strengthens our fiscal health, growth that brings jobs and investment to every corner of this region, growth that positions Chicago to lead the next decade of American economic competitiveness.

28:07 and that is what Chicago 2050 was designed to do and that is what Chi Forward is already doing and that is what our partners, the city, GSEP and our companies our cultural anchors, our universities are committed to advancing together we are not waiting for others to tell this story we are telling it ourselves with facts, with confidence and with momentum that is measurable and undeniable We are counting on every Chicagoland business owner and all our city residents to become boosters.

28:44 Tell any naysayer you know about today's news. Thank you for investing in the region's future, and thank you for believing in the full promise of Chicago. And with that, we now conclude the press conference. I'd like to invite all the speakers, along with Theater of the Mind team, to join us for a group photo, media with additional questions for World Business Chicago, the Greater Chicagoland Economic Partnership for Goodman team. We are happy to sidebar with you here. And for those of you here from the Theater of the Mind is offering an exclusive sneak peek of the show,

29:18 a reminder for those watching online, you can get your tickets immediately today. and have a great morning and let's keep building a better Chicago together.

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