Boston Consulting Group’s Chicago office runs a civic focused initiative called the Center for Illinois Future. They recently issued a report called “Four Imperatives for Boosting Well-Being in Chicago.” Because this report benchmarks Chicago against 15 major metro areas, it’s worth a read for those in other major cities too.
Chicago didn’t perform very well in this analysis. In addition to the well-established finding that Chicago’s high-end economy produces less economic punch than coastal cities, this report includes some truly eye popping stats about Chicago’s most distressed neighborhood. The bottom line is that part of the gap between Chicago and the coastal cities is driven by much greater inequality and underperformance in struggling neighborhoods vs. coastal competitors. The report is worth reading for that alone.
BCG partner Justin Manly joined me for a podcast to discuss the report and their findings. The second half specifically digs into the findings around distressed neighborhoods. If the audio player doesn’t display for you, click over to listen on Soundcloud.