Chicago's 2050 Vision Gets a Power Boost from New Board Heavyweights

CHICAGO, IL – January 14, 2026 – World Business Chicago (WBC), the city's public-private economic development arm, has bolstered its leadership ranks with the appointment of three influential executives to its Board of Directors. The move signals a strategic reinforcement of its ambitious Chicago 2050 plan, aimed at securing the city's position as a premier global economic hub.

The new board members are Joe Flanagan, Chairman and CEO of the sales execution firm Acquirent; Ross Plagman, Global Chief Financial Officer for the multi-billion dollar conglomerate Mars Snacking; and Jeff King, the Managing Partner of KPMG's Chicago office. Their collective experience in entrepreneurship, global corporate finance, and high-level professional services is expected to provide critical guidance as the city navigates its next chapter of growth.

"Chicago is entering an important chapter," said Phil Clement, who took the helm as President & CEO of World Business Chicago in April 2024. "As we work to translate vision into execution through Chicago 2050, the addition of these board members brings invaluable expertise in global finance and capital strategy and advising complex organizations through transformation."

Strategic Expertise for an Ambitious Playbook

The appointments are not merely symbolic; they represent a targeted acquisition of skills directly aligned with the core tenets of the Chicago 2050 plan. This long-term strategy, an evolution of a 2012 plan, aims to elevate Chicagoland into the world's top 20 economic regions, targeting an annual output of $1.4 trillion and over 5 million jobs by 2034.

The plan's recently unveiled first phase, or "Chapter One," identifies eight key industry pillars for focused growth. These include established strengths like Manufacturing, Finance & Insurance, and Professional & Business Services, alongside emerging sectors such as Digital Tech & AI and "Big Bets" in quantum and clean energy. The expertise of the new board members maps directly onto these priorities.

Ross Plagman, as the top financial officer for Mars Snacking—a segment of a privately held global giant with approximately $55 billion in sales—brings a deep understanding of capital strategy, large-scale investment, and the financial mechanics of a world-leading consumer brand. His two decades in global finance will be instrumental in guiding WBC's "ChiForward" capital-attraction platform, which is designed to streamline dealmaking and direct investment into neighborhood and industrial projects.

Jeff King, leading the Chicago office of global advisory firm KPMG, provides a crucial perspective on the needs of complex, multinational corporations. With over 30 years of experience, he advises the very companies WBC seeks to attract and retain. His insights into business transformation and innovation are vital for strengthening Chicago's competitiveness in the professional and business services sector, a designated growth pillar.

Completing the trio is Joe Flanagan, a proven Chicago entrepreneur who has built multiple successful companies from the ground up. His appointment, which includes serving as Chair of the Business Development Advisory Board, ensures that the voice of the local operator and business builder is central to WBC's strategy. His focus on talent development and creating durable companies aligns with the plan's goal of fostering a robust and inclusive job market.

A Blend of Local Grit and Global Reach

The composition of the new appointments highlights a deliberate strategy to balance support for homegrown businesses with the attraction of global corporate power. It is a direct reflection of Chicago's dual identity as a city of hard-working entrepreneurs and a sophisticated hub for international commerce.

Flanagan embodies the city's renowned entrepreneurial spirit. "Chicago is one of the best places in the country to build a company—because the talent is deep, the customer base is real, and the city has the grit to keep improving," he stated. "I'm looking forward to contributing an operator's perspective to Chicago 2050—helping drive business growth, strengthen our talent pipeline, and create the kinds of careers that keep people here and bring more people in."

This local-first perspective is powerfully complemented by the global scale represented by Plagman and King. Their presence on the board reinforces Chicago's appeal to multinational corporations. Plagman noted the city's success is built on a foundation of disciplined execution. "Chicago's role as a global business hub is built on disciplined execution—strong companies, smart investment, and a workforce that can compete at scale," he said. "I look forward to supporting strategies that attract capital, accelerate innovation, and expand opportunity across the region."

King echoed this sentiment, emphasizing the city's established credentials as a place where global business thrives. "Business leaders choose Chicago because it is where global operations thrive, innovation accelerates, and talent finds room to grow," he commented. "It's a privilege to join World Business Chicago's board as we advance Chicago 2050 and help position the region for the next era of growth."

Navigating a Dynamic Economic Landscape

These appointments come at a pivotal time for both World Business Chicago and the city's economy. The organization has been in a period of renewal, with Clement's appointment as CEO last year and other recent additions to the board from the technology sector, including leaders from Microsoft and PsiQuantum. This continuous refreshment of its leadership underscores WBC's effort to adapt to a rapidly changing global economy, even as it celebrates Chicago's 11-year streak as the top U.S. metro for corporate investment, according to Site Selection magazine.

The broader economic outlook for 2026 is one of cautious optimism, with projected GDP growth but lingering concerns about inflation and market volatility. The rise of Artificial Intelligence is seen as both a significant opportunity and a disruptive force. The new board members' expertise will be critical in helping the city's business community navigate these challenges and capitalize on emerging trends.

By adding leaders with direct experience in scaling businesses, managing global financial strategies, and advising multinational enterprises, World Business Chicago is better equipped to execute its ambitious agenda. The move demonstrates a clear focus on turning the long-term vision of Chicago 2050 into a series of concrete actions that can attract investment, create high-quality jobs, and ensure the city's economic vibrancy for decades to come.