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Chicago Loop ranks 10th most attractive business district in the world in study

Loop Chicago

Posted  5 years ago

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FOR IMMEDIATE RELEASE | May 19, 2020

CHICAGO—Today the 2020 Attractiveness of Global Business Districts Report, a ULI and EY partnership, ranked the Chicago Loop the 10th most attractive business district in the world. This report is the only international study that assesses and compares the world’s leading business districts. The study was commissioned by the Global Business Districts Innovation Club, of which Chicago Loop Alliance is a founding member.

“Chicago Loop Alliance’s mission is to make the Loop attractive for people and businesses, so we’re thrilled to see our district has made the top 10 in the world, and we are the top U.S. district outside of New York City,” said Chicago Loop Alliance President and CEO Michael Edwards. “Something the report calls out is the need for cities to show resiliency amid COVID-19. If there’s one word I can use to describe Chicago, it’s ‘resilient.’ So while I know we will continue to face unprecedented challenges, there’s no city where I’d rather be facing them.”

The research examines the world’s largest concentrations of businesses, skills, economic power and capital. Its findings show that the concentration of talent, unparalleled business efficiency and instant connectivity will remain fundamental strengths of Global Business Districts. Other factors that will continue to affect the attractiveness of a business district include prioritizing the environment, strategy and response to COVID-19, and being a destination for visitors and residents rather than just a concentration of office space.

To that last point, the Chicago Loop’s residential population grew by nearly 30 percent between 2013 and 2018, according to Chicago Loop Alliance’s State of the Chicago Loop: 2018 Economic Profile. What was once a purely 9-5 business district now sees one quarter of its weekly pedestrian activity during weeknights.

“The Loop is evolving into a true mixed-use district, and it’s exciting to be a part of that,” Edwards said. “The more residents in the Loop, the more amenities that everyone can enjoy—long past 5 p.m.”

Ranking of global business districts:

  1. London, The City
  2. New York, Midtown
  3. Tokyo, Marunouchi
  4. Paris, La Défense
  5. London, Canary Wharf
  6. New York, Financial District
  7. Beijing, CBD
  8. Seoul, Gangnam
  9. Singapore, Downtown Core
  10. Chicago, The Loop
  11. Toronto, Financial District
  12. San Francisco, Financial District
  13. Hong Kong, Central District
  14. Sydney, CBD
  15. Amsterdam, Zuidas
  16. Frankfurt, Bankenviertel
  17. Dubai, DIFC
  18. Shanghai, Pudong-Lujiazui
  19. Sao Paulo, Paulista Avenue
  20. Johannesburg, Sandton
  21. Mumbai, Bandra Kurla Complex

About Chicago Loop Alliance

Chicago Loop Alliance (CLA)’s mission is to create, manage and promote high-performing urban experiences, attracting people and investment to the Loop. CLA is a membership organization as well as the sole service provider for Special Service Area#1-2015, and the Chicago Loop Alliance Foundation produces public art projects and events. For more information, please visit www.loopchicago.com.

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