Chicago, area counties team up to attract foreign direct investment to region
The City of Chicago and seven area counties will craft a plan to attract foreign direct investment (FDI), in cooperation with the Global Cities Initiative, sponsored by JP Morgan Chase and the Brookings Institution.
The initiative includes the Charleston, S.C.; Indianapolis; Louisville-Lexington, Ky.; Phoenix; and Wichita, Kansas, metro areas as well.
“For this next cohort, we selected metro areas that have shown a commitment to attracting, expanding and leveraging foreign direct investment as part of a comprehensive global trade and engagement strategy,” Marek Gootman, a Brookings fellow and director of strategic partnerships and global initiatives, said. “The six metro areas selected will be strong role models for other regions and represent a growing group of leaders who understand the need to embrace the global market and solidify and strengthen international connections and competitiveness.”
Project officials said Chicago was a strong candidate based on the work it's already doing to attract foreign investment, as well as Chicagoland's interest in researching new methods to broaden the economic reach of its markets and products.
“Working together is the most effective way for the seven counties and the City of Chicago to promote the amenities of our world-class businesses, the diversity of our communities and the power of our highly skilled workforce,” Kane County Board Chairman Chris Lauzen said. “From the Chicago Loop to farm fields, our region is making and growing products that fuel the global economy.”