Chicago Initiative Will Help Connect Local Suppliers with Anchor Institutions

Chicago Mayor Rahm Emanuel recently announced the Chicago Anchors for a Strong Economy (CASE) program — an initiative to connect local small- and medium-sized business to a network of Chicago’s leading anchor institutions (e.g., hospitals, universities, cultural institutions, corporations). The CASE program is intended to create economic opportunities for local suppliers across all industries, including science and tech companies, by fostering strategic relationships with anchor institutions and equipping them with the necessary tools to successfully compete for contracts with these anchor institutions. A pilot program between the University of Chicago and 10 local companies has been operating since mid-2013 as a proof-of-concept for the city-wide program.  

In 2014, the goal of the CASE program is to help more than 100 local suppliers successfully achieve contracts to provide business-to-business goods and services to up to 20 anchor institutions including the City of Chicago, Cook County, ComED, Illinois Institute of Technology, Rush University Medical Center and the University of Chicago. Participating companies, however, are not guaranteed contracts with anchors. Administered by the World Business Chicago, a public-private economic development partnership, the initiative also will help Chicago’s anchor institutions identify their needs for goods and services. To participate, a business must register on the World Business Chicago website and have a minimum of three employees, $1.5 million in annual revenues and a commitment to the program from the CEO, according to the Chicago Tribune.

The CASE program is funded by a $250,000 grant from the Chicago-based Polk Bros. Foundation reports the Chicagobusiness.com. Anchor institutions also will provide funding to support the program.

As part of the CASE program, the University of Chicago’s announced the UChicago Local initiative to provide training to help local companies grow their business to the next level. Training will focus on building capacity in core business skills, including:

• Talent management;
• Finance;
• Strategy; and,
• Marketing.

The UChicago Local initiative also will provide Local Business Showcase and buy local events to support the growth of a regional supply chain network.

Chicago hopes to build a stronger regional business community, create jobs and fuel economic activity reflected in gross regional product through the development of a vibrant, robust regional supply chain that connects local suppliers with anchor institutions. The program also is intended to increase the Chicago’s ability to attract, retain and grow small- and medium-sized businesses and anchor institutions. Visit the program’s website…