Industry Clusters
The Workforce Partners of Metropolitan Chicago in partnership with the Metro Economic Growth Alliance of Chicago have produced four reports that provide key data for industry clusters that are significant to the metropolitan Chicago region's economy. The reports provide snapshots of the Biomedical and Life Sciences; Business, Technical and Financial Services; Manufacturing; and Transportation and Logistics industry clusters - focusing on the key strengths of the clusters as well as the opportunities for expansion/development.
Industry Clusters
Biomedical and Life Sciences
The Biomedical and Life Sciences industry cluster encompasses 19,603 establishments and employs 512,805 (2012) people in the metropolitan Chicago region. The cluster represents similar industries that are closely connected through supply chains and shared labor pools within the region and is primarily comprised of organizations whose services are in some way connected to the medical field, which include producing medical instruments and equipment, conducting research and development activities, and addressing the healthcare needs of the region's residents.
Business, Technical and Financial Services
The Business, Technical, and Financial Services cluster encompasses 53,918 establishments and employs 849,721 (2012) people in the metropolitan Chicago region. The cluster represents similar industries that are closely connected through supply chains and shared labor pools within the regions and is primarily comprised of organizations that provide financial services related to banking, investing, and lending; insurance and related services; and technical services that include, but are not limited to, legal, accounting, engineering, and technology/computer services.
Manufacturing
The Manufacturing sector encompasses 12,533 establishments and employs 395,014 people in the metropolitan Chicago region. Given the complexity of the manufacturing industry and its significance to the regional economy, four clusters are examined in greater detail than others. The Advanced Materials, Chemical and Chemical Based Products, Fabricated Metal Product Manufacturing, and Printing and Publishing clusters were selected based on their location quotient, number of jobs, and job multiplier - all viewed as indicators of the cluster's contribution to the regional economy.
Transportation & Logistics
The Transportation and Logistics cluster encompasses 14,215 establishments and employs 256,227 (2012) people in the metropolitan Chicago region. The cluster represents similar industries that are closely connected through supply chains and shared labor pools with the region and is primarily comprised of organizations whose services include the transporting of goods/materials and people through various modes, planning and facilitating efficient distribution, and storing and warehousing products.