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PROPOSED RESOLUTION
AUTHORIZATION FOR COOK COUNTY’S CONTINUED PARTICIPATION IN THE GREATER CHICAGOLAND ECONOMIC PARTNERSHIP (GCEP)
WHEREAS, in 2022 the elected officials of the seven counties of northeastern Illinois, the City of Chicago and corresponding economic development organizations (the Parties) agreed to partner and collaborate to advance economic development within the region; and
WHEREAS, the Cook County Board approved Item 22-5730 authorizing the Chief of the Bureau of Economic Development, or his or her designee, to sign an agreement outlining the County’s annual financial contribution and the proposed scope of work to support a three-year pilot initiative; and
WHEREAS, in 2025 the Parties clearly recognized positive outcomes for the Chicago region resulting from the pilot program, all Parties agreed to a one-year extension to develop a sustainable model to carry to organization forward; and
WHEREAS, the Cook County Board approved Item 25-3921 continue and support GCEP through 2026 with funds in the Bureau of Economic Development’s FY 2025 budget; and
WHEREAS, the Parties have agreed to leverage and build on the success of the pilot phase; and
WHEREAS, the Parties reaffirm their commitment to collaboratively advancing regional economic development by pursuing a unified approach to business development initiatives that promote inclusive growth, attract investment, strengthen systems and programs, and enhance Chicagoland’s global competitiveness; and
WHEREAS, to advance these objectives, the Parties will develop an Annual Workplan-approved by the GCEP Executive Committee-that outlines strategies to strengthen key economic sectors by retaining and expanding existing businesses, attracting new businesses, and showcasing the region’s economic development ecosystem in ways that promote inclusive and equitable growth; and
WHEREAS, the Annual Workplan will identify strategic priorities, membership engagement activities, program development, and outreach efforts, along with associated timelines and deliverables; and
WHEREAS, GCEP will annually develop and share key performance indicators (KPIs), goals, and objectives to measure partnership progress and overall effectiveness; and
WHEREAS, GCEP will continue to market the region, recognizing that a unified regional strategy benefits individual communities and projects across the partnership and supports broader regional prosperity; and
WHEREAS, as part of this next phase of organizational development, GCEP will establish an Executive Committee responsible for approving the Annual Workplan and the annual fundraising strategy; and
WHEREAS, the GCEP Executive Committee will also establish a Regional Advisory Committee, composed of the Executive Committee members and additional private-sector investors, to review and advise on strategies and priorities (See Attachment A); and
WHEREAS, World Business Chicago (WBC) will continue to administer the general operations of GCEP and provide staff support for the Regional Advisory Committee; and
WHEREAS, WBC will regularly provide a report outlining general economic development performance metrics, emerging opportunities, and related partnership activities; and
WHEREAS, Cook County will request that World Business Chicago (WBC) report to the Cook County Board Committee on Economic Development annually about GCEP’s impact; and
WHEREAS, each of the seven counties and the City of Chicago, acting through its agent World Business Chicago, have committed to the annual cost obligations set forth in Attachment B and shall provide the required contributions to support GCEP operations for the three-year period commencing in 2027; and
WHEREAS, the annual cost obligations for each participating jurisdiction have been determined pursuant to a formula that utilizes the arithmetic mean of the jurisdiction’s proportion of the region’s population and its proportion of regional employment; and
WHEREAS, the schedule of cost allocations for the 2027 program year, as calculated under this formula, is detailed in Attachment B; and
WHEREAS, the Cook County Board of Commissioners finds that continued participation in GCEP is in the best interests of the County and its residents, as it supports coordinated regional economic development, fosters inclusive growth, and enhances the region’s competitiveness.
NOW, THEREFORE, BE IT RESOLVED, that the Cook County Board of Commissioners does authorize the Chief of Bureau of Economic Development or his or her designee to sign the 2027 GCEP Operating Agreement and to provide payment of $296,2745 annually to support GCEP operations for the 2027- 2029 calendar years.
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