Editor’s note: WBBM Newsradio is looking at the future of downtown Chicago following a year of
closures and remote working. Today, Political Editor Craig Dellimore reports on Chicago’s economic losses and its plans for recovery.
CHICAGO (WBBM NEWSRADIO) — It’s far from the bustle of pre-pandemic Chicago, but Deputy Mayor for Economic Development Samir Mayekar says the city is getting there.
“We are really positioned for a strong recovery, and that’s because we have planned as a team here in City Hall. And that’s also one of the reasons why we haven’t seen that loss of population,” he said.
But Chicago government has lost a lot of money. Mayekar estimates city coffers did not receive more than $1.5 billion in tax revenues because of pandemic-related shutdowns, primarily in the hospitality industry.
Laurence Msall of the Civic Federation said this shows how greatly Chicago — perhaps to its detriment — depends on tourism and conventions, compared to when the city had an industrial base.
Still, he said, Chicago is doing everything it can to reopen the downtown.
“What will enhance the city financially more than anything is a return to large amounts of people coming back to the city.”
What may discourage them, in part, is a fear of crime and violence, Msall said.
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