Most of the attention is focused either on the big multinationals or the small business start-ups, but it is clear that for Chicago and for the broader Midwest, the soul of the economy is the family-owned, middle-market company that ranges in size from $10 million to $1 billion in revenue. According to a study by Ohio State University, there are 200,000 businesses in that category, representing 3 percent of all of the companies in the U.S. There are 16,000 businesses with revenue between $100 million and $1 billion. This mid-market sector accounts for 33 percent of the private sector GNP, a similar percentage of private sector jobs (over 45 million) and will create 60 percent of all new jobs in 2017 in the U.S. (over 1 million new jobs).
Read More >