Chicago Economic Growth Student’s Name Institution Chicago Economic Growth The City of Chicago, generally identified as Chicago, is United States’ third-most populated city with a population of slightly over 2.7 million (City of Chicago, 2017). The city forms the county seat of Cook County and its metropolitan area, which is mostly known as Chicagoland, boasts of 10 million residents (Chicagoland Chamber of Commerce, 2017). Ideally, the mentioned City’s strength lies in its identity as a global architecture capital, a good business center, and a significant human capital (World Business Chicago, 2017). However, despite having the stated strengths in technology and competitive assets, Chicago still struggles with employment …show more content…
However, issues such as job losses, complex bureaucracy, crime rates, and an under-utilized labor market could threaten its growth. Ideally, the SMART approach, which would leverage the city’s many advantages, should solve the mentioned challenges. References Chicagoland Chamber of Commerce. (2017). Small business Chicago: empowering small businesses with connections, education, and resources. Retrieved from https://www.chicagolandchamber.org/Resources/SmallBusinessChicago.aspx. City of Chicago. (2017). Facts & statistics. Retrieved from https://www.cityofchicago.org/city/en/about/facts.html. Reif, J. L. (2013). Chicago business and industry: From trade to e-commerce. Chicago, IL: University of Chicago Press. Sudo, C. (2015, August 19). 4 Threats to the future of Chicago development. Bisnow Chicago. Retrieved from https://www.bisnow.com/chicago/news/commercial-real-estate/4-things-that-may-affect-the-future-of-chicago-development-49266. World Business Chicago. (2017). A Plan for economic growth and jobs. Retrieved from