ACS Operational Excellence

Chennai, India

Recent estimates of the economy of the entire Chennai Metropolitan Area have ranged from US$58.6 to US$66 billion (PPP GDP), ranking it from the fourth- to sixth-most productive metro area of India, and the third highest GDP per capita. The metropolitan area doesn’t include the nearby industrial zones of Sholinganallur, Siruseri, Oragadam and Sriperumbudur. Chennai has an economic base anchored by the automobile, software services, medical tourism, hardware manufacturing and financial services. Other important industries include petrochemicals, textiles and apparels. The Chennai Port and Ennore Port contribute greatly to its importance. The city has a fully computerized stock exchange called the Madras Stock Exchange. Chennai was recently rated as having the highest quality of life among Indian cities ahead of the other three metros and Bangalore, based on the “Location Ranking Survey” conducted by ECA International. Chennai has improved its global ranking to 138 in 2006–07 from 179 in 2002–03. It is now ranked at 26th position in Asia in terms of livability, up from 31st rank in 2002–03. According to a 2007 worldwide quality of life survey done by Mercer, Chennai received the second highest rating in India, with New Delhi scoring the highest, and came in at a relatively low 157th worldwide. The reason was attributed to poor health and sanitation, and the increasing air pollution. It has the distinction of being called The Detroit of Asia.

Chennai has been tagged as the Banking Capital of India,for its vibrant banking culture and trading.The city has emerged as an important center for banking and finance in the World Market. Chennai boasts a transaction volume which serves 900 million people across the World through Back office operation. At present, it is home to four large national level commercial banks and many regional and state level co-operative banks. Several large financial companies and insurance companies are headquartered in Chennai. Prominent financial institutions, including the World Bank, Standard Chartered Bank, ABN AMRO, Bank of America, The Royal Bank of Scotland, Goldman Sachs, Barclays, HSBC, Deutsche Bank, ING Group, Allianz, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Abu Dhabi Commercial Bank, Asian Development Bank, Credit Suisse, BNP Paribas Fortis, Deutsche Bank and Citibank have back office and Development Center operations in the city. The city serves as a major back-up center for operations of many banks and financial companies of the world.

Hartford, CT

Hartford is the capital of the U.S. state of Connecticut. It was the seat of Hartford County until Connecticut disbanded county government in 1960. As of the 2010 Census, Hartford’s population was 124,775, making it Connecticut’s third-largest city after the coastal cities of Bridgeport and New Haven. Census Bureau estimates since then have indicated Hartford’s fall to fourth place statewide, as a result of sustained population growth in the coastal city of Stamford. Hartford is nicknamed the “Insurance Capital of the World”, as it hosts many insurance company headquarters and insurance is the region’s major industry. The city was founded in 1635 and is among the oldest cities in the United States. It is home to the nation’s oldest public art museum (Wadsworth Atheneum), the oldest publicly funded park (Bushnell Park), the oldest continuously published newspaper (The Hartford Courant), and the second-oldest secondary school (Hartford Public High School). It also is home to Trinity College, a private liberal arts college, and the Mark Twain House where the author wrote his most famous works and raised his family, among other historically significant attractions. Twain wrote in 1868, “Of all the beautiful towns it has been my fortune to see this is the chief.” Following the American Civil War, Hartford was the richest city in the United States for several decades. Today, Hartford is one of the poorest cities in the nation, with 3 out of every 10 families living below the poverty line. In sharp contrast, the Hartford metropolitan area is ranked 32nd of 318 metropolitan areas in total economic production and 7th out of 280 metropolitan statistical areas in per capita income. Highlighting the socio-economic disparity between Hartford and its suburbs, 83% of Hartford’s jobs are filled by commuters from neighboring towns who earn over $80,000, while 75% of Hartford residents who commute to work in other towns earn just $40,000.

London, United Kingdom

London generates approximately 20 per cent of the UK’s GDP (or $446 billion); while the economy of the London metropolitan area – the largest in Europe – generates approximately 30 per cent of the UK’s GDP (or an estimated $669 billion). London is one of the pre-eminent financial centres of the world and vies with New York City as the most important location for international finance. London’s largest industry is finance, and its financial exports make it a large contributor to the UK’s balance of payments. Around 325,000 people are employed in financial services in London. London has over 480 overseas banks, more than any other city in the world. Over 85% (3.2 million) of the employed population of greater London works in the services industries. The City of London is home to the Bank of England, London Stock Exchange, and Lloyd’s of London insurance market. Over half of the UK’s top 100 listed companies (the FTSE 100) and over 100 of Europe’s 500 largest companies have their headquarters in central London. Over 70 per cent of the FTSE 100 are within London’s metropolitan area, and 75 per cent of Fortune 500 companies have offices in London.

New York, NY

New York is a global hub of international business and commerce and is one of three “command centers” for the world economy (along with London and Tokyo). The city is a major center for banking and finance, retailing, world trade, transportation, tourism, real estate, new media as well as traditional media, advertising, legal services, accountancy, insurance, theatre, fashion, and the arts in the United States. New York City has been ranked first among 120 cities across the globe in attracting capital, business, and tourists. Many major corporations are headquartered in New York City, including 45 Fortune 500 companies. New York is also unique among American cities for its large number of foreign corporations. One out of ten private sector jobs in the city is with a foreign company.

Trenton, NJ

Trenton was a major manufacturing center in the late 19th and early 20th centuries. One relic of that era is the slogan “Trenton Makes, The World Takes”, which is displayed on the Lower Free Bridge (just north of the Trenton–Morrisville Toll Bridge). The city adopted the slogan in 1917 to represent Trenton’s then-leading role as a major manufacturing center for rubber, wire rope, ceramics and cigars. Along with many other United States cities in the 1970s, Trenton fell on hard times when manufacturing and industrial jobs declined. Concurrently, state government agencies began leasing office space in the surrounding suburbs. State government leaders (particularly governors William Cahill and Brendan Byrne) attempted to revitalize the downtown area by making it the center of state government. Between 1982 and 1992, more than a dozen office buildings were constructed primarily by the state to house state offices. Today, Trenton’s biggest employer is still the state of New Jersey. Each weekday, 20,000 state workers flood into the city from the surrounding suburbs. Trenton is the capital city of the U.S. state of New Jersey and the county seat of Mercer County. It was briefly the capital of the United States. The city’s metropolitan area is grouped with the New York metropolitan area by the United States Census Bureau, but directly borders the Philadelphia metropolitan area and is part of the Federal Communications Commission’s Philadelphia Designated Market Area. As of the 2010 United States Census, Trenton had a population of 84,913, making it the state’s 10th-largest municipality. The Census Bureau estimated that the city’s population was 84,034 in 2014.