Dec
22

The Windy City as an Economic Powerhouse

December 22, 2011

Chicago is one of the most economically strong cities on the planet.

The Atlantic magazine recently released a list of the 25 Most Economically Powerful Cities in the World with Chicago at No. 2 in the country and No. 4 in the universe. The cities were chosen based on three key issues: economic, financial and innovative power.

The No. 1 spot went to Tokyo, New York was No. 2, London came in at No. 3, followed by Chicago at No. 4. Paris came in at No. 5.

Not bad economic company to be in.

Chicago was listed for its economic output ($460 billion), innovation rank (7) and financial center score (678). That’s comes out to an overall “Global Economic Power Score” of .915.

Atlantic reporter Richard Florida reports that American cities account for nearly 90 percent of total U.S. economic output and 85 percent of U.S. jobs.

“Cities and their surrounding metro regions are the real economic engines of our time,” he wrote. “Across the globe, metros with populations over one million account for more than half of the world’s economic output and nine of every 10 innovations, while housing roughly one out of every five people.”

As Harvard’s Michael Porter recently told the Clinton Global Initiative: “There is no one U.S. economy but a collection of local economies.”

And ours is one of the world’s strongest.

Categories: Awards, City of Chicago

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Tracey

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