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Chicago City Wire

Saturday, October 5, 2024

Mayor Johnson travels to London seeking stronger economic ties

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Julie Hernandez-Tomlin Commissioner | Chicago City website

Julie Hernandez-Tomlin Commissioner | Chicago City website

Mayor Brandon Johnson is set to visit London this month, aiming to enhance Chicago's global presence and economic opportunities. The trip coincides with the Bears game, which is expected to boost tourism from a key international market.

"This trip is about positioning Chicago on the global stage as a premier destination for visitors, business, and innovation," said Mayor Brandon Johnson. "As we navigate budgetary challenges, we’re focused on identifying creative, non-tax revenue solutions. Strengthening our international relationships, especially with key economic players like London, is essential for attracting long-term financial investments, driving business collaborations, and fueling economic growth that benefits all of Chicago's communities."

The United Kingdom holds significant importance in Chicago's economy as its leading foreign direct investment partner. Over 250 UK companies operate in the Chicagoland area, employing more than 90,000 Illinois residents. In 2023 alone, trade between Chicago and the UK exceeded $7.68 billion.

During his visit, Mayor Johnson will meet with London companies interested in expanding into Chicago. The agenda includes discussions on tourism promotion and mental health initiatives while examining sports' role in sustainable growth.

Phil Clement of World Business Chicago emphasized the potential impact of strong international ties: "Having lived and worked in London for over a decade, I’ve seen firsthand how transformative strong international ties can be for a city’s economy," he said.

A notable announcement is expected on October 11 regarding a London-based company's decision to establish its U.S. headquarters in Chicago.

Rich Gamble from Choose Chicago highlighted their strategy: “Hosting media and travel trade events in key international markets is one of our primary tactics for driving future visitation to Chicago," he said.

The visit also aims to support Mayor Johnson’s vision of making Chicago a leader in sustainability and equitable growth by collaborating with London-based businesses on urban development strategies.