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With a strategy of developing a hyperlocal series of business magazines, BusinessWeek announced it will launch its efforts in Chicago.

“You could call us a guinea pig in a way,” said Michael Arndt, a senior correspondent who is now the new magazine's editor. “The hope is that if it works here we’d take it into other markets.”

Arndt added that the initiative will focus on longer, analytical pieces to differentiate from more general coverage in the area.

A couple reason Chicago was chosen is BusinessWeeks' existing base of customers in the area, plus they already have several reporters and an editorial assistant in the area, along with advertising and sales staff. It was only a matter of adding a few pieces to the mix to get it ready.

With the existing customer base in Chicago, they're also adding to it with the purchase of local lists of business people. They expect a November launch, starting with a circulation of 60,000 which will be distributed free.

Executive editor and editor in chief of BusinessWeek.com, John Byrne added if it works good in Chicago, they'll follow it up with introductions of other city-focused magazines. Byrne gave no hint of what other cities are being considered.

While there will be no dedicated Web site for the new venture at launch, some articles will appear on BusinessWeek.com. The magazine should run at a minimum of 36 pages said Arndt.