illi News - Mayor Brandon Johnson and World Business Chicago Lead High-level Business Mission to London, Advancing Economic Growth Opportunities for Chicago

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LONDON ~ London – Mayor Brandon Johnson and World Business Chicago have embarked on a trip to London to promote Chicago as a top destination for international business expansion. The focus of the trip is on key sectors such as fintech, insurtech, climate, and healthcare. The aim is to strengthen relationships with current and potential investors and showcase what makes Chicago stand out as a global city.

Mayor Johnson expressed his confidence in Chicago's position on the world stage, stating that the city has much to offer in terms of diversity, skilled workforce, economy, business ecosystem, and worldwide connectivity. He emphasized the importance of deepening connections with partners across the pond to ensure that Chicago remains the top choice for business expansion.

The United Kingdom is currently Chicago's largest foreign direct investment partner, with over 250 UK-based companies operating within the city. In 2023 alone, trade between Chicago and the UK reached $7.68 billion, making it Chicago's fourth-largest trade partner. This visit aims to build on these strong ties and foster economic growth by opening up new revenue opportunities for the city.

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Phil Clement, President and CEO of World Business Chicago, highlighted the significance of this trip by mentioning that it coincided with the NFL's European series where the Chicago Bears played. He stated that they have a full schedule of meetings and roundtables planned to spark interest in Chicago and create job opportunities that will drive the city's growth.

During their stay in London, the delegation from Chicago will meet with senior executives and leaders from companies headquartered or with operations in London. The focus will be on highlighting recent successes in Chicago and positioning it as a gateway for international business expansion.

One of the highlights of this economic development trip is an Economic Impact of Sports Roundtable where participants will discuss how sports can drive economic growth. There will also be industry-specific roundtables on fintech, quantum computing, and climate technology. Mayor Johnson will deliver a keynote address at the climate tech roundtable, which will be hosted at a WBC board member's London office.

The Chicago delegation has scheduled several key meetings during their trip, including discussions with a developer of photonic quantum computers, a Scottish company specializing in DPSS lasers for the semiconductor industry, and three quantum-related companies to explore collaboration opportunities and potential expansion into Chicago. They will also meet with a company specializing in sustainable thermal drying technologies to align innovations with Chicago's sustainability goals.

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In an exciting announcement, a London-based company will formally announce its expansion into the U.S. market by opening its U.S. headquarters in Chicago on Friday, October 11. This news will be revealed during a livestream between London and Chicago. A press release is available upon request.

The Chicago delegation includes Mayor Brandon Johnson, Senior Advisor Jason Lee, Deputy Mayor of Economic & Neighborhood Development Kenya Merritt, Director of Federal Affairs Dominique Warren, President & CEO of World Business Chicago Phil Clement, Vice Chair Charles E. Smith, EVP of Global Strategic Initiatives Adrienne Tongate, VP of Strategic Initiatives Anel Montes Marchan, and Director of Foreign Direct Investment Karla Ruth Orozco Toledano.

This trip to London is a testament to the efforts being made by Mayor Johnson and World Business Chicago to position Chicago as a global city and attract international business expansion. With its diverse economy and skilled workforce, along with strong partnerships and connectivity worldwide, it is clear that Chicago has much to offer as a top destination for businesses looking to expand globally.

Filed Under: Government, City

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