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Fast Company names Chicago 'City of the Year'

by Greg Hinz

(Crain's) - Fast Company Magazine has named Chicago its first U.S. City of the Year, lauding the Windy City's "ability to take what was and figure out what could be."

The publication, which focuses on technology and other emerging industries, noted Chicago's economy is growing faster than New York's or Los Angeles' and hailed it for everything from its green-roof policy to being the home of likely Democratic presidential nominee Barack Obama.

"Chicago stood out in our reporting for its creativity and vitality," Editor and Managing Director Bob Safian said at a Monday press conference here. "Chicago offers something distinctive."

Mayor Richard M. Daley said the honor likely will help the city when it goes to Athens next month in hopes of being named to the short list of finalists to host the 2016 Olympics. To do even better, it needs to continue to focus on fixing public schools and needs to get more money for infrastructure work from the state and federal governments, Mr. Daley added.

In its June edition, Fast Company also named London its global city of the year, and designated a dozen other places as cities to watch, including Seattle, Mexico City, Barcelona and Kansas City.

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Fast Company is owned by Mansueto Ventures LLC, which is controlled by Joe Mansueto, founder of Chicago's Morningstar Inc.