CHICAGO - A report released Wednesday shows that the Chicago region's manufacturing is not recovering as quickly as other sectors in the region.
The study, by the HSBC Bank and the Chicago Council on Global Affairs, wrote "Manufacturing in Chicago is an old heavyweight slugger, punching below its weight," although its still key to the region's economy.
While manufacturing accounts for two-thirds of the region's exports, export numbers put Chicago in fourth behind New York, Los Angeles and Houston.
Why is interest in Chicago manufacturing falling? Four reasons, the report says:
- A lack of civic and government attention to the sector because of a perception that it was dying.
- An absence of intraregional cooperation on economic issues.
- Freight rail gridlock.
- Lingering wariness about expanding business within the state, given its fiscal problems.
More in the Chicago Tribune