Chicago's Bold Initiative 'Build Better Together' Aims for Inclusive Economic Growth

Chicago's 'Build Better Together' Initiative

In a significant move to enhance economic development, Chicago's Mayor Brandon Johnson announced the launch of the 'Build Better Together' strategy on March 27, 2025. This initiative seeks to foster inclusive and sustainable growth across all 77 community areas in Chicago, focusing on vital sectors such as quality housing, job creation, innovation, and vibrant neighborhoods.

The announcement was made at the groundbreaking of a new project at 79 W. Monroe St., which will transform the site into 117 mixed-income housing units, signaling a shift towards promoting diverse and affordable living options in the city. Mayor Johnson emphasized that to achieve meaningful change in a city as large and diverse as Chicago, collaboration between businesses, government, and local residents is essential.

Key Pillars of the Initiative

The 'Build Better Together' initiative is built around three foundational pillars:
1. Quality and affordable housing: Ensuring every Chicagoan has access to safe and affordable places to live.
2. Business innovation and job growth: Supporting local businesses and attracting new companies to spur employment opportunities.
3. Neighborhood investments and vibrant communities: Enhancing the quality of life for residents through community-focused projects and cultural investments.

Deputy Mayor of Business and Neighborhood Development, Kenya Merritt, highlighted the importance of a cohesive strategy that directly addresses the needs of historically overlooked neighborhoods. This approach aims to create measurable outcomes that benefit all Chicagoans.

Enhancing City Resources

The initiative will leverage public-private partnerships and collaboration between various city departments, including Planning and Development, Housing, and Cultural Affairs. This comprehensive approach will maximize existing resources and improve operational efficiencies, particularly through programs such as 'Cut the Tape,' which aims to expedite construction project approvals by at least 40%.

Ciere Boatright, DPD Commissioner, noted that this myth-busting initiative is designed to make construction faster and easier, which is crucial for addressing the city's housing challenges. The bond investment of $1.25 billion approved for housing and economic development will further facilitate creating housing and business opportunities.

Supporting Small Businesses

Recognizing that small businesses are the backbone of the economy, the initiative aims to bolster support for the over 50,000 businesses in Chicago. BACP Commissioner Ivan Capifali shared that 'Build Better Together' will enhance the streamlined business licensing process encouraged by 'Cut the Tape,' ensuring that entrepreneurs can navigate the system efficiently to grow their ventures.

Moreover, the city is enhancing its Neighborhood Business Development Centers, providing localized assistance to entrepreneurs and reinforcing Chicago's reputation as a great place for businesses to start and expand.

Cultural Investment as Economic Growth

Cultural identity is another cornerstone of this initiative. DCASE Commissioner Clinée Hedspeth remarked that Chicago's rich arts and creative scene draws businesses and talent while fostering economic activity. The city plans to amplify its support for local artists and cultural organizations, which play an essential role in driving tourism and job creation.

Looking Ahead

Mayor Johnson expressed confidence that 'Build Better Together' positions Chicago to maximize its unique assets while enhancing the quality of life for residents and attracting businesses and talent. World Business Chicago President and CEO Phil Clement echoed this sentiment, noting the strategy's role in driving inclusive growth and ensuring that Chicago remains competitive on a global scale.

The commitment to growth and progress is already evident, with 140 companies either expanding or relocating to the area in 2024. This represents a significant endorsement of Chicago's vibrant economy and potential.

As 'Build Better Together' unfolds, it is set to reshape Chicago's future, ensuring that all citizens can contribute to and benefit from the city’s prosperity. With continued partnerships and targeted investments, Chicago is preparing to meet tomorrow's challenges head-on, making strides toward becoming a more inclusive and dynamic urban environment.