Chicago’s Fiscal Dilemma and the New Paradigm of Urban Competition: Why Growth Is the Only Way Out – Global City Review

"Chicago possesses assets that most U.S. cities envy: O'Hare and Midway international airports, a dense network of rail and highways, a highly educated workforce, several world-class universities, and a diversified economic structure. These endowments should make it a natural hub for innovation and commerce. ... The root of this paradox is that Chicago has failed to translate its hardware advantages into policy competitiveness."
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ExChgo
29 days ago

Yes, it is a good article. Without growth, it’s all about feeding off a dying corpse. The article considers Chicago to have historical leadership in “finance, manufacturing, technology, and logistics.” I’m not an expert on these, but let’s think honestly about which advantages can go away. On finance, we have Northern Trust as a big bank, and places like Wm. Blair, Mesirow, Morningstar. Any of those can shift more people out of state. We already lost Citadel, and others will follow. The board of trade and CBOE could totally be spooked out of town by the next stupid transaction tax rumor. Manufacturing I would say… Read more »

Mark Felt
30 days ago

Chicago also possesses some of the stupidest and most corrupt politicians in the nation. That is why you see Chicago businesses leaving Chicago and often leaving Illinois.

Reese
30 days ago

I disagree with the part about Chicago having a highly educated workforce. Chicago Public Schools and Chicago City Colleges are riddled with scandals and poor results. Universities everywhere are in crisis because they award so many useless degrees. America needs construction workers, health care workers….every dentist, nurse or doctor I knew in Chicago got out of Chicago to go to a place that had a future. Chicago needs more law enforcement officers and yet there are 1900 fewer officers than in 2019. Police officers need special training and mentoring and yet what do we get in Chicago? Gang members turned… Read more »

Reese
30 days ago

Texas says ‘WE DON’T PUNISH HARD WORK.” That’s the difference.

Chicago’s hardware advantages don’t matter as long as corrupt politicians, gang members, drug dealers, and union thugs own the streets of Chicago.

Wally
30 days ago

Bottom line, taxes of all kinds. Second, costs of pensions and benefits for public sector unions. Finally, no desire for radical changes necessary by public officials, read Democrats.

Brian Jones
1 month ago

Good article.

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