Economic Development in Chicago’s Sports Vertical

It’s a little-known fact that it was soccer that kicked off the sports sector focus for World Business Chicago. From there the focus expanded to include more sports disciplines as well as sports-related innovation and startups. Current economic development efforts in the sports sector are focused on driving and keeping investment in Chicago, filling the gaps between opportunities, and leveraging the current sports ecosystem to lift up all of Chicago and the region.?

Chicago boasts a rich sports legacy, from the globally renowned Chicago Bulls , Chicago Bears , Chicago Blackhawks , Chicago Cubs , Chicago Fire FC and Chicago White Sox — to the soaring success of the Chicago Sky WNBA and Chicago Red Stars .

Anchored by iconic sports businesses like rEvolution , which has called Chicago home since 2001, our city embraces athletics at every level. Even NBA teams from across the nation flock to Jeff Shapack ’s 167 Green penthouse floor basketball court for a taste of Chicago's sports fervor. The NASCAR event in 2023 injected a staggering $109 million into our city's economy, and with the return of the festival-like race in 2024, sports continue to be a powerful driver of investment, showcasing Chicago as the ultimate sports destination.

While World Business Chicago has long recognized the relationship between sports entertainment and equitable economic development, the sports vertical at World Business Chicago is relatively new to our economic development strategy.

The vertical is led by Senior Business Development Manager, Jack Bilanzic , “Having grown up in the Chicagoland region and today contributing to our world-renowned sports scene, I truly believe in the transformative power of sports as a catalyst for economic growth, driving job creation, tourism, revenue generation, and brand visibility for our city," he explained.?

What are other current sports news items and sector wins in Chicago and the region right now?

IHSA Girls Flag Football

Seen as a landmark decision in women’s sports, it was announced today at Halas Hall that girls flag football would become an official Illinois High School Association Sports starting during the 2024-25 season.

FIFA

Chicago is actively bidding to host the FIFA Women's World Cup? in 2027, and is pitching Chicago as a base camp to the FIFA World Cup 2026? - Canada, Mexico and the United States World Cup. The World Business Chicago team started hosting FIFA representatives as early as June 2023 to show off the hotel & hospitality venues, along with potential training facilities.

Chicago White Sox

The White Sox Stadium proposal sets out to jumpstart a new neighborhood area dubbed, “The 78” because it could be an addition to Chicago’s famous 77 neighborhoods and become Chicago’s 78th neighborhood area. The stadium project is projected to be a $9 billion investment in Chicago with $4 billion in annual economic impact. ?

Chicago Fire FC

The new privately funded performance center is a multi-million dollar facility. The Chicago Fire team is investing $8 million in the community via Chicago Housing Authority (CHA) residential buildings, employment and programming opportunities for the surrounding neighborhoods. The ?lease alone is expected to create $40 million of revenue for the CHA over the next 40 years.?

Chicago Bears

One of the latest business leaders to join World Business Chicago’s board of directors is Karen Murphy , SVP, Business Strategy & CFO.?The Chicago Bears are one of the sponsors of this year's Chicago Day at Midwest House as part of World Business Chicago activations at SXSW 2024.

Stay connected with Chicago sports agencies

With a vision of establishing Chicago as the #1 U.S. destination for sports tourism, the Chicago Sports Commission recruits and supports high-profile, major sporting events that drive significant economic impact and positive exposure for the city of Chicago.?

Currently ranked in the top 15 best sports cities in the world, fans across the globe know Chicago is the place to be. The city welcomes and hosts sporting events of all kinds, from major international tournaments and friendlies to All-Star Games, NCAA championships, and everything in between.

Find out how you can be part of the action – sign up forThe Chicago Sports Report newsletter , see events past and present, volunteer opportunities, and more.