World Trade Chicago with a new campaign for regional growth

Economic development group World Business Chicago announced a new focus Wednesday on growth not just in the city but in seven northeastern Illinois counties, bringing together political and civic leaders to pledge cooperation.

Michael Fasnach, the organization’s president and CEO, said the effort responds to issues raised by business executives in discussions about opening or expanding facilities in the area. “Business leaders don’t think in terms of city or county limits,” Fassnacht said. “They want to know about the region” and factors such as workforce development and quality of life, he said.

The campaign will have a goal of registering 150 “pro-Chicagoland decisions” by private companies over the next three years, he said. An advisory board, including city and suburban officials, will oversee the campaign, Fassnacht said, promising an “effective structure without red tape or bureaucratic hurdles.”

The group’s Greater Chicagoland Economic Partnership announcement at the Chicago History Museum included remarks from Mayor Lori Lightfoot, Cook County Board President Tony Preckwinkle and DuPage County Board Chairwoman Deborah Conroy.

Lightfoot said the team’s makeup bodes well for the campaign’s success. “Women are done,” she said to applause from a crowd that included representatives from other suburban districts.

“This is a big and important opportunity for all of us,” says Lightfoot, adding that suburban development needs have been calling for more regional partnerships. “There have been previous attempts to do this, and I am proud to finally lead an administration that wholeheartedly embraces regionalism and, importantly, delivers on this promise.”

World Trade Chicago was founded in 1999 and was initially regional in focus. But over the years, especially under former Mayor Rahm Emanuel, it has become more city-centric, insiders said.

Fassnacht said the new arrangement will bring WBC about $1 million a year in new funding from counties to level services. Most of the group’s more than $8 million budget comes from corporate donations and less than 20 percent from city hall, he said.

He said the increase in WBC’s board size had brought more corporate support.

Those involved in the initiative include the Chicago Metropolitan Agency, which researches development-related issues and collects data about the area, and the Chicago Community Trust.