During the week of April 10-14 2005, a Team Canada Atlantic delegation comprised of 40 Atlantic Canadian companies embarked on a Tier 1 trade mission to Chicago, Illinois to pursue trade and investment opportunities in the area.
During the mission, Atlantic Canadian companies will meet with potential buyers, distributors, business partners and industry leaders from a variety of targeted sectors including:
Chicago Overview:
Chicago, Illinois, located at the base of Lake Michigan, is the heart of the U.S. Midwest business and transport community. It is the main hub for Illinois, Wisconsin, and Missouri, as well as parts of Iowa and Indiana. Chicago has a population of 2.9 million and is situated within the third largest metropolitan area in the U.S. (8.9 million), which includes Milwaukee, Wisconsin, St. Louis, Missouri and Kansas City, Missouri.
The Chicago metropolitan area also has one of the world’s largest and most diversified economies in the world (larger than Argentina, Switzerland, Russia and Taiwan) with an annual gross regional product surpassing $333 billion. With over 200,000 companies and 4.15 million jobs, Chicago is home to 12 Fortune Global 500 companies, 17 Financial Times Global 500 companies and 107 Corporate Headquarters.
With approximately 1,500 foreign companies, Chicago has a diversified international business environment. Chicago attracts $49 billion in direct imports from more than 184 countries and exports $21 billion to 194 countries. Since 1985, Chicago has generated over $41 billion in Foreign Direct Investment. The presence of 70 Consulates General and Consulates from around the world, over 100 international trade organizations and more than 30 international chambers of commerce makes Chicago a great contributor to global commerce.
Chicago is a leader in telecommunications, as the world’s largest internet exchange point and the world’s only interconnection point for international advanced networks. It is also the nation’s busiest rail hub and the world’s leading intermodal container port with the only 50/50 Asia/Europe port in the U.S. The Chicago metropolitan area has more than 200 truck terminals with at least 41,700 outbound truckloads a day and more than 36,000 outbound rail carloads to over 37 routes daily.
Illinois is among the best States at preparing its students for college-level education. As for post-secondary education, the numbers speak for themselves: 487,000 students are enrolled in 98 institutions with 20,500 master’s degrees, 4,000 professional degrees and 1850 doctoral degrees awarded annually. It is also worth mentioning that 78 Nobel Prize winners have been faculty members, students or researchers at the famed University of Chicago.
As of 2003, 81.5% of Atlantic Canada’s exports went to the United States, and exports to the Midwest region (which includes Illinois, Missouri and Wisconsin) were valued at approximately $417 million dollars.