Page 23 - Willa Rawls

CHICAGO

One of the oldest and most significant cities in the United States, Chicago has
a deep and multifaceted history founded in industry and culture. What began
as the hub for fur trading in the United States quickly grew into an industry
rich center for American industry.

Chicago has one of the world’s largest and most diversified economies, with
over 4 million employees generating an annual GRP of more than $561 billion.
Chicago was home to the bicycle craze and the Western Wheel Company,
which was the first company to introduce stamping to the production process,
greatly reducing costs for years to come. Then, in the late 1900’s, the city was
part of the automobile revolution. Yet, one of the most significant economic
contributions to be made by Chicago it’s pioneering of the commodity trading
markets. Because of its strategic location on Lake Michigan and near to other
large cities in the northeast, a massive amount of goods passed through Chi-
cago. People across the surrounding states quickly began buying contracts on
the goods that were stored in the city; from this was established the Chicago
Board of Trade and the Chicago Mercantile Exchange - the modern systems
used today in commodity trading. At present, Chicago is home to 20 fortune
500 companies and is a center for transportation, distribution, manufacturing,
publishing, and food processing. Boeing Co., State Farm Insurance, Archer
Daniels Midland, Caterpillar, and Kraft Heinz Co. are just a few of the large
companies in Chicago.

Chicago is perhaps most known for its cultural significance. The city has
made many important pop-cultural contributions in music: Chicago blues, Chi-
cago soul, Jazz, Gospel, indie rock, hip hop, industrial music and punk rock.
Each year, Chicago hosts nationally renowned festivals that attract nearly half
a million visitors to the city. Lollapalooza, the Chicago Jazz Festival, Riot Fest,
Taste of Chicago, and the Chicago Blues Festival are just a few examples. The
city is additionally known for various popular culinary dishes, such as deep-
dish pizza, the Chicago-style hot dog, and the Italian beef sandwich.

As of 2016, Chicago had just under 3 million residents; 44% were white, 32%
were African American, 28% were Hispanic, 13% were some other race, 5%
were Asian, 2% were two or more races, while less than 1% were Native
American and Pacific Islander respectively.

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