{"id":2269,"date":"2024-08-14T00:00:00","date_gmt":"2024-08-14T00:00:00","guid":{"rendered":"https:\/\/loopchicago.local\/press-releases\/new-study-reveals-chicago-loop-tops-u-s-downtowns-by-most-value-metrics\/"},"modified":"2024-08-14T00:00:00","modified_gmt":"2024-08-14T00:00:00","slug":"new-study-reveals-chicago-loop-tops-u-s-downtowns-by-most-value-metrics","status":"publish","type":"press_release","link":"https:\/\/loopchicago.com\/es\/press-releases\/new-study-reveals-chicago-loop-tops-u-s-downtowns-by-most-value-metrics\/","title":{"rendered":"New study reveals Chicago Loop tops U.S. downtowns by most value metrics"},"content":{"rendered":"<p><strong>Press contact:<\/strong>&nbsp;Ariella Gibson | Director of Marketing and Communications, Chicago Loop Alliance |&nbsp;<a href=\"mailto:Ariella@ChicagoLoopAlliance.com\">Ariella@ChicagoLoopAlliance.com<\/a>&nbsp;| 708-543-4002<\/p>\n<p><strong>MEDIA:<\/strong>&nbsp;<a href=\"https:\/\/www.dropbox.com\/scl\/fo\/t41lt5uyl0hks1nrxbb2y\/AHXyB7xhb0gC1OfgT3ypHP0?rlkey=bweqg9npad85zv77aj2kw9bju&amp;st=4kuaq8x4&amp;dl=0\">View and download photos and videos here.<\/a><\/p>\n<p><strong>SOCIAL:<\/strong><br>Instagram:&nbsp;<a href=\"https:\/\/www.instagram.com\/loopchicago\/?hl=en\">@loopchicago<\/a>&nbsp;&nbsp; Facebook:&nbsp;<a href=\"https:\/\/www.facebook.com\/ChicagoLoopAlliance\/\">@ChicagoLoopAlliance<\/a>&nbsp;&nbsp; Twitter:&nbsp;<a href=\"https:\/\/twitter.com\/ChiLoopAlliance\">@ChiLoopAlliance<\/a><br>LinkedIn:&nbsp;<a href=\"https:\/\/www.linkedin.com\/company\/chicagoloopalliance\/\">@Chicago-Loop-Alliance<\/a>&nbsp;TikTok:&nbsp;<a href=\"https:\/\/www.tiktok.com\/@loopchicago\">@loopchicago<\/a><br><br><strong>FOR IMMEDIATE RELEASE | Aug. 14, 2024<\/strong><\/p>\n<p><strong>CHICAGO\u2014<\/strong>Today, Chicago Loop Alliance (CLA) released an in-depth Value of Downtowns report, created by the International Downtown Association (IDA), analyzing key principles of downtown success for the Chicago Loop compared to 54 other downtowns and center cities across the U.S. The study confirms that the Chicago Loop surpasses other U.S. downtowns studied by most value metrics and serves as the most significant and vital of Chicago\u2019s neighborhoods. The nearly 50-page report details Chicago\u2019s Loop as an established downtown, showcasing robust employment rates, burgeoning population density, and sustainable growth prospects for the future. <strong>View the full Value of Downtowns \u2013 Chicago Loop report at <a href=\"\/es\/LoopChicago.com\/ValueofDowntowns\/\">LoopChicago.com\/ValueofDowntowns<\/a>.<\/strong><\/p>\n<p>Report highlights include:<\/p>\n<ul>\n<li>While occupying less than half a percent of Chicago\u2019s land, the Loop <strong>employs 419,311 workers, or 34%<\/strong> of the city\u2019s total employment, with a <strong>worker density 75 times greater<\/strong> than the citywide average<\/li>\n<li>The Loop has approximately <strong>14 times the density of retail, food and beverage<\/strong> businesses as the city average with combined sales of $1.8 billion.<\/li>\n<li>Since 2000, Loop employment <strong>increased by 27 percent<\/strong>, three times as fast as the average <em>established<\/em> downtown nationwide (per report criteria).<\/li>\n<li>The Loop\u2019s <strong>residential growth rate is more than three times as fast<\/strong> as all studied downtowns.<\/li>\n<li>The Loop\u2019s <strong>residential population is twice as dense<\/strong> as the average acre elsewhere in the city.<\/li>\n<li><strong>36 percent of housing units are owner-occupied<\/strong> in the Loop, significantly higher than the 19% median of other downtown study areas, suggesting an unusually stable center city community<\/li>\n<li>The Chicago Loop <strong>regained 96.7 percent of its 2019 employment levels<\/strong> within a year after the onset of the pandemic (2020-2021).<\/li>\n<li>Chicago\u2019s Loop <strong>scores a perfect 100 in Walk and Transit scores<\/strong>, the only downtown in IDA\u2019s study group to do so; and its Bike score of 79 surpasses the city\u2019s overall score of 72.<\/li>\n<li>Loop households <strong>produce less than one third as many greenhouse gas emissions<\/strong> as typical regional households.<\/li>\n<li>Companies remain committed to the Loop \u2013 <strong>88 percent of private employment<\/strong> in the Loop is with firms in existence 10+ years.<\/li>\n<li>Arts and culture in the Loop contribute an estimated $2.25 billion in economic activity.<\/li>\n<li>The Loop\u2019s <strong>combined property assessment value is over $7.6 billion<\/strong> \u2013 within IDA\u2019s study, Seattle is the only area to exceed assessed value for downtown properties with a study area three times larger than Chicago\u2019s Loop.<\/li>\n<\/ul>\n<p>\u201cThe Value of Downtown study confirms Chicago\u2019s status as a world-class city, demonstrating how the Loop significantly contributes to this acclaim by generating critical revenue, driving employment, and enhancing resiliency throughout the entire city,\u201d said Michael Edwards, President and CEO of Chicago Loop Alliance. \u201cA variety of factors show the Loop as not only a legacy district with deep roots in the business community, but also a cultural hub of innovation and growth. Rapidly evolving as a dynamic residential area, the Loop gains recognition for leading in job creation, educational achievements, and diversity across sectors.&#8221;<\/p>\n<p>\u201cFor seven years, IDA\u2019s <em>Value of U.S. Downtowns and Center Cities<\/em>&nbsp;has highlighted the critical role downtowns play in driving urban economies,\u201d said David Downey, President and CEO of International Downtown Association (IDA). \u201cThis year\u2019s study with the Loop underscores its exceptional status as a leading economic powerhouse with unmatched worker concentration, robust residential growth, and unparalleled walkability and transit accessibility.\u201d<\/p>\n<p><strong>About the Value of Downtowns and Center Cities study<br><\/strong>Building on IDA\u2019s unique industry-wide perspective and expertise, the Value of Downtowns and Center Cities study quantifies the value of U.S. downtowns and center cities across more than 150 metrics organized under five core value principles (Economy, Inclusion, Vibrancy, Identity and Resilience), with a focus on how downtowns contribute to the city and region around them. The Value of U.S. Downtowns and Center Cities study is a partnership between IDA and local urban place management organizations (UPMOs). IDA began this research in 2017, working with Stantec\u2019s Urban Places group and the first cohort of 13 UPMOs to develop a methodology for compiling and evaluating data from those 13 downtowns. In 2024, the analysis has expanded to include 54 downtowns and center cities across the U.S.<\/p>\n<p><strong>About Chicago Loop Alliance<br><\/strong><a href=\"https:\/\/loopchicago.com\/es\/\">Chicago Loop Alliance<\/a>&nbsp;(CLA)\u2019s mission is to lead the community by creating and supporting inclusive programs that attract 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&nbsp;<a href=\"https:\/\/loopchicago.com\/es\/\" class=\"ss-broken\">LoopChicago.com<\/a>.<\/p>\n<p><strong>About International Downtown Association<br><\/strong>The International Downtown Association (IDA) is the premier organization for urban place professionals who are shaping and activating dynamic city center districts. Our members are downtown champions who bring urban centers to life, bridging the gap between the public and private sectors. We represent an industry of more than 2,500 place management organizations, employing 100,000 people throughout North America and growing rapidly around the world. Founded in 1954, IDA is a resource center for ideas and innovative best practices in urban place management. For more information, visit <a href=\"https:\/\/downtown.org\/\">downtown.org<\/a>.<\/p>\n<p>###<\/p>","protected":false},"excerpt":{"rendered":"<p>Press contact:&nbsp;Ariella Gibson | Director of Marketing and Communications, Chicago Loop Alliance |&nbsp;Ariella@ChicagoLoopAlliance.com&nbsp;| 708-543-4002 MEDIA:&nbsp;View and download photos and videos here. SOCIAL:Instagram:&nbsp;@loopchicago&nbsp;&nbsp; Facebook:&nbsp;@ChicagoLoopAlliance&nbsp;&nbsp; Twitter:&nbsp;@ChiLoopAllianceLinkedIn:&nbsp;@Chicago-Loop-Alliance&nbsp;TikTok:&nbsp;@loopchicago FOR IMMEDIATE RELEASE | Aug. 14, 2024 CHICAGO\u2014Today, Chicago Loop Alliance (CLA) released an in-depth Value of Downtowns report, created by the International Downtown Association (IDA), analyzing key principles of downtown &#8230;<\/p>","protected":false},"featured_media":2270,"template":"","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"class_list":["post-2269","press_release","type-press_release","status-publish","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New study reveals Chicago Loop tops U.S. downtowns by most value metrics - Loop Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/loopchicago.com\/es\/press-releases\/new-study-reveals-chicago-loop-tops-u-s-downtowns-by-most-value-metrics\/\" \/>\n<meta property=\"og:locale\" content=\"es_MX\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New study reveals Chicago Loop tops U.S. downtowns by most value metrics - Loop Chicago\" \/>\n<meta property=\"og:description\" content=\"Press contact:&nbsp;Ariella Gibson | Director of Marketing and Communications, Chicago Loop Alliance |&nbsp;Ariella@ChicagoLoopAlliance.com&nbsp;| 708-543-4002 MEDIA:&nbsp;View and download photos and videos here. 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