Site Selection Magazine – an international industry-leading business publication – released its annual corporate expansion and relocation rankings, naming Illinois #2 in the nation for corporate projects and Chicago the Top Metro for the 11th year in a row. The state ranks #2 in the nation for corporate expansions and relocations for the second year in a row, with 552 business expansion or relocation projects in 2023 (up from 487 in 2022). Illinois also placed #2 in projects per capita, up from #4 the previous year.

“Illinois continues to attract leading companies to our state, with hundreds of openings and expansions every year,” said Governor JB Pritzker. “With our unique incentives, our growing market, and our diverse and talented workforce, there’s no doubt that the economy in Illinois is thriving. This impressive recognition from Site Selection Magazine for the second year in a row makes it clear: Illinois is back and open for business.”

The magazine also recognized the Chicago metropolitan area as the Top Metro for business expansion and relocations among large metros for the 11th straight year. With growth in key sectors including life sciences, data centers, and technology, companies benefit from Chicago’s deep talent pool, diverse economy and robust infrastructure.

Companies that located or expanded throughout Illinois in 2023 include:

• Gotion – $2 billion electric vehicle battery gigafactory in Manteno, creating 2,600 jobs
• Kraft Heinz – $400 million distribution center in DeKalb, creating 150 jobs
• Gulfstream – $285 million investment in Cahokia, creating 200 jobs and retaining 500
• Incobrasa – $250 million expansion in Gilman, creating 40 jobs and retaining 200
• Prysmian Group – $64 million facility expansion, creating 80 jobs
• Manner Polymers – $54 million facility in Mount Vernon, creating 60 jobs

“With unrivaled incentives and top assets, Illinois’ momentum is undeniable as hundreds of companies expand or relocate to the Land of Lincoln,” said DCEO Director Kristin Richards. “Year after year, Illinois continues to grow its reputation as a global economic powerhouse, create jobs and nurture our thriving business ecosystem.”

“We continue to see companies from a diverse range of industries locate or expand in Illinois because of our state’s unmatched infrastructure, central location and talented workforce,” said Intersect Illinois CEO Dan Seals. “Site Selection’s rankings are a testament to the positive momentum we are seeing throughout Illinois.”

Illinois has seen an upward trajectory, earning nine credit upgrades since June 2021, and making focused investments in economic growth initiatives. The state’s modern infrastructure provides easy access to the world via air, road, rail and port and its top-notch higher education system produces the skilled workforce companies need to thrive.

“Site Selection congratulates state and local economic development professionals across Illinois for the state’s second-place finish in both the total projects and projects per capita facilities races,” said Mark Arend, editor-in-chief of Site Selection. “This demonstrates to our readers that Illinois is delivering the right location criteria to companies siting new projects and expanding existing ones.”

Corporate real estate analysts regard Site Selection’s yearly analyses as “the industry scoreboard.” To qualify, projects must meet one or more of these criteria: investment of $1 million or more, creation of 20 or more new jobs or 20,000 square feet or more of new space.

To learn more about doing business in DuPage County, contact us or search for available properties. 

“The sense of regionalism exemplified by the Greater Chicagoland Economic Partnership will only reinforce the area’s attractiveness to tech, logistics, innovation, and vibrant young talent in an economy as diverse as its population.” — Site Selection Magazine

CHICAGO, March 1, 2024 /PRNewswire/ — Mayor Brandon Johnson, alongside representatives from World Business Chicago and key figures from the Greater Chicagoland Economic Partnership, gathered at S&C Electric in Chicago’s Rogers Park neighborhood to announce that, for the eleventh consecutive year, Chicago has secured the prestigious title of the top metro area in the United States for corporate investment, according to Site Selection magazine. This ranking underscores Chicago’s sustained appeal as a prime destination for business growth and development.

“Access to diverse talent, global connectivity and the City’s strong infrastructure are among the reasons why Chicago has been ranked a top metropolitan area for selection and corporate relocation for 11 years,” said Mayor Brandon Johnson. “On behalf of all the residents of the City of Chicago, I extend our gratitude to S&C Electric and the 162 other companies who made pro-Chicago decisions in 2023 – investing in our people, our neighborhoods, and our city—driving job creation and opportunities for all.”

In 2023, the Chicago metro area continued its streak by outpacing all other regions in the nation, with an influx of new corporate locations and expansions. World Business Chicago reported a total of 163 “pro-Chicagoland decisions” throughout the year. These decisions comprised 117 expansions and 46 relocations or new market entries, with notable investments targeting the South and West sides of the city, alongside significant developments across the Chicagoland region. Collectively, these initiatives resulted in the creation of over 23,000 job opportunities, further fueling the city’s economic vitality.

“We are profoundly honored to once again be acknowledged as the foremost metro for corporate investment in the United States,” said Charles E. Smith, Vice Chair, World Business Chicago. “This accomplishment reflects the unwavering dedication of our team, board of directors, the Mayor of Chicago, and our esteemed partners across the greater Chicagoland region. It underscores our shared commitment to nurturing an ecosystem where businesses flourish and communities thrive.”

Among the notable contributors to Chicago’s economic landscape in 2023 was S&C, which announced its expansion with a 275,000-square-foot facility in Palatine, reinforcing its commitment to the region’s growth. This expansion, situated approximately 25 miles from S&C’s headquarters in Rogers Park, is expected to generate 200 new jobs, contributing to the company’s significant local workforce of over 2000 team members in the Chicago area.

“Chicago has been home to S&C for over 110 years, and the talent pool here is an essential part of our growth and success, allowing us to better serve customers with solutions that advance a resilient and reliable electrical grid,” said Anders Sjoelin, S&C’s president and CEO. “Additionally, we’re pleased to add jobs, create meaningful careers, and value for our local team members, and support our communities.

Mayor Brandon Johnson, Lake County Board Chair Sandy Hart, and others emphasized the significance of today’s announcement, highlighting the collective efforts of the Greater Chicagoland Economic Partnership (GCEP), which was established in January 2023. The GCEP, comprising the City of Chicago and seven surrounding counties (Cook County, DuPage County, Kane County, Kendall County, Lake County, McHenry County, and Will County), has spearheaded initiatives, and business delegations, aimed at fostering inclusive economic growth and promoting equity across diverse communities. Leveraging the region’s assets, including robust transportation infrastructure, diverse talent pools, and thriving sectors, the GCEP remains committed to driving sustainable development and maximizing opportunities for all.

“Chicago is a dynamic city for energy storage innovation, robust R&D culture, and dedicated workforce,” celebrates Desmond Wheatly, CEO of Beam. “Embracing these strengths, Beam is strategically expanding its manufacturing presence in the Chicagoland region, delivering premium-grade batteries tailored for diverse applications such as eMobility, recreation, and robotics. With Chicago’s foundation of innovation and hard work, we’re poised to drive transformative advancements in energy technology.”

The continued recognition of Chicago as the top metro for corporate investment underscores the city’s resilience, innovation, and unwavering appeal to businesses seeking a dynamic environment for growth. As the third-largest metro area and a top 20 global economy, the Chicago region boasts tremendous talent and is home to some of the nation’s top colleges and universities. Leveraging these assets, Chicago remains at the forefront of economic prosperity, offering unparalleled opportunities for businesses to thrive and succeed in a vibrant and diverse marketplace.

GREATER CHICAGOLAND REGION LEADERS REFLECT UPON TODAY’S NEWS:

Toni Preckwinkle, Cook County President: “Companies like S&C Electric, Beam, Solo Cup, and so many others chose Chicagoland for a reason – they know here you will find a rich and diverse tapestry of strong industry sectors ranging from food manufacturing to film and television production. Site Selection’s eleventh consecutive win affirms the Chicago region’s continued promise of opportunity for the business community allowing for them to continuously grow, expand and thrive.”

Greg Bedalov, CEO and President, Choose DuPage, and Chairman of Greater Chicagoland Economic Partnership: “The unprecedented recognition of the Chicago Metro region as the top site in the nation for corporate relocation and site selection for an 11th consecutive year is proof positive that the city and the metro area are absolute first-in-class locations for business growth. Achieving this lofty goal once a decade is worth shouting about. Achieving it for consecutive years that span more than a decade is nearly inconceivable. Working collaboratively with all the partners in the Metro area is producing measurable economic results for Chicagoland. The Chicago metro area is not only open for business, but also is clearly the place for business. Congratulations to all those involved in making this happen and thank you to Site Selection magazine for this recognition.”

Kane County Board Chairman Corinne Pierog: “The recognition from Site Selection magazine highlights the region’s allure for new businesses and investments. It also illustrates our dedication to being a responsive community that supports a diverse range of sectors, including agriculture, corporate and small business.”

Kendall County Board Chairman, Matt Kellogg: “We are proud but not at all surprised to see the Chicago area receive recognition for its continued business growth. We see real evidence of that growth in Kendall County, as businesses choose to expand or relocate in the region. We are not only business friendly but a great place for employees to relocate and join our community. The Chicago region connects to the entire globe, whether its people, information, or logistics, which makes it an excellent place to live and do business.”

Sandy Hart, Lake County Board Chair: “Lake County joins the entire Chicagoland region in proactively working together to advance sustainability and inclusive growth through strategic investments in infrastructure, talent, vibrant communities, and a diverse economy. Our central location, in the middle of the country and within arms-reach of a vast, global transportation network, makes the area a premiere location for business and people. We are proud that Chicagoland’s strength is once again being recognized by the industry-leading publication Site Selection Magazine. Being ranked the top U.S. metro for corporate relocation for the 11^th year in a row comes as no surprise given all that the region has to offer to growing businesses.”

Mike Buehler, Chairman, McHenry County Board: “The Chicago Metro region’s unparalleled success in corporate relocation and site selection for over a decade is a testament to the collaborative spirit and unwavering dedication of our community. This continuous recognition by Site Selection magazine affirms that our city and metro area stand as beacons for business growth and innovation. Just as the Chicago region connects seamlessly to the global stage, so too does our commitment to fostering a diverse and vibrant ecosystem for businesses to thrive. Congratulations to all those who contribute to this remarkable achievement and thank you to Site Selection magazine for acknowledging our ongoing journey as a first-in-class destination for business.” 

Jennifer Bertino-Tarrant, Will County Executive: “The Chicagoland Region remains a strong economic force and globally competitive. Chicagoland communities are attracting corporations and high-paying jobs at a rapid pace thanks to our many regional assets, including diverse talent, affordability, high quality of life, and connectivity. I look forward to these assets driving continued growth into the future.”

A Note From the Greater Chicagoland Economic Partnership’s Executive Leadership

Dear Partners and Friends,

One year ago, we embarked on a remarkable journey with the launch of the Greater Chicagoland Economic Partnership (GCEP). Our mission was clear – to unite and showcase the global competitiveness of the Chicagoland region, leveraging our diverse talent, advanced infrastructure, renowned institutions, and top-ranked industries. Today, we proudly share with you the GCEP’s 2023 report, a testament to our collective efforts and an invitation for you to join us as we further define the future of the region.

In just twelve months, the GCEP has emerged as a dynamic force. Our success lies in the active collaboration among county partners across the region. From international engagements like the Collision Conference in Toronto and the Chicago Sister Cities International 50-year anniversary business delegation trip to Japan, to local initiatives such as Chicago DeepTech Week and the Chicago Venture Summit series—we have cultivated a thriving ecosystem that extends far beyond our municipal or county borders. At the time of the launch, Cook County President Toni Preckwinkle remarked, “We all do better when we all do better.” This continues to represent the spirit of this collaboration. With equity and inclusivity as the cornerstone of economic development, we are contributing meaningfully to the economy throughout Chicagoland in many ways, including:

• The GCEP is growing the regional economy. In the last year, 8,576 jobs were created or retained because of GCEP, which generated $715.9 million in direct and indirect worker earnings.
• Sharing strategic initiatives, programming, and public funding opportunities which has led to increased trust across partners in the region, and a more collaborative approach to drive growth.
• Providing data driven analysis and research that will continue to define future opportunities for economic growth across the city and seven county region.

In March 2023, Site Selection Magazine named Chicagoland the Top U.S. Metro for Corporate Relocations and Expansions, consecutively for ten years, and named four GCEP counties among “America’s Best Counties.” Last year, the WBC Research Center published the first-ever Regional Asset Map—a comprehensive guide that provides vital economic data. WBC’s support of GCEP includes producing monthly economic dashboards, quarterly updates, opinion pieces, and other vital assets. Furthermore, WBC’s leadership continues to enthusiastically deliver presentations, participate in panel discussions, and advocate for the strengths of Chicagoland as a prime business destination to businesses throughout the world.

We invite you to become a champion of the greater Chicagoland region. Consider this report as not just an overview, but a call to action. Here is a digestible glimpse into the strides we’ve made, the milestones we’ve achieved, and the vision that will continue to propel us forward. As a champion, you have the power to amplify and talk about the competitive advantages of Chicagoland. Join us as we solidify Chicagoland’s reputation as a global hub for innovation and the epicenter where the future of business is incubating.

Click here to download the report.

Greg Bedalov
Chairman, Greater Chicagoland Economic Partnership
President & CEO, Choose DuPage

Kyle Schultz
Chief Growth Officer, World Business Chicago

PREMIER Design + Build Group has just broken ground on a building expansion project for Sumitomo Drive Technologies in Glendale Heights, Ill. The work is designed to meet the evolving needs of the client, whose Midwest-manufactured products are in high demand from customers across a range of industries.

The company’s Glendale Heights location is used for light manufacturing of gearmotors, also known as “speed reducers.” Gearmotors are designed to regulate the speed at which motors run to match the speed needed for a customer’s application. The gearmotors produced by Sumitomo Drive Technologies are used in many industries including auto assembly, grain handling, water treatment, wood milling, and parcel handling. Sumitomo Drive Technologies is part of Sumitomo Heavy Industries, Ltd.

The manufacturer’s need to scale up its production capabilities is an interesting outgrowth of its long-term strategy. Prior to 2020, Sumitomo Drive Technologies made a commitment to investing in manufacturing within the United States. In the face of the challenges of the past several years, many of the company’s competitors were forced to shut down or severely reduce operations at overseas production facilities. Sumitomo Drive Technologies, however, was able to continue production in the Midwest, and demand for its products grew significantly.

Sumitomo Drive Technologies selected PREMIER to manage design + build services for the expansion of its existing facility, which is located at 175 W. Lake Drive within the Glendale Lakes Business Park. When complete, the building will have approximately 82,000 square feet with a 28’ clear height. In addition to more than doubling the existing footprint, PREMIER’s team will create a state-of-the art, fully modular crane building allowing seamless integration between assembly and distribution. The work includes installing new docks and doors, adding on-site parking, and updating landscaping. The building improvements will allow the firm to increase inventory space and offer a broader product line from its Midwest location. It will also improve lead times, operational efficiencies, and safety.

“We’re honored to have been chosen as the design-builder for this Sumitomo Drive Technologies assignment,” explained PREMIER’s Michael Long, Senior Vice President in the firm’s Midwest division. “They approached us with an interesting challenge, and we used our expertise to develop a solution designed to help them accomplish every one of the objectives they have established.” Working with Mr. Long on the assignment is Project Manager Stefan Olson. PREMIER’s project partners include Cornerstone Architects Ltd. for architectural design and SpaceCo for civil engineering.

“Michael Long and the PREMIER team have already proven themselves to be such an incredible asset,” according to Eduardo Plata, Corporate Project Manager for Sumitomo Machinery Corporation of America. “We’re so thankful to have found a project partner that is so knowledgeable and will guide us through this process and always look out for our best interests.”

“Reimagining and reshaping facilities to meet our clients’ evolving needs is the kind of challenge the team at PREMIER loves to take on,” said Long. “This is a client that was uniquely positioned to grow their business, and we’re excited to help them create a new home in which to continue that success.”

The project kicked off late last week with a groundbreaking, which included local officials and several Sumitomo Drive Technologies executives who traveled to Illinois from Japan to participate in the celebration. As part of the kickoff, Sumitomo Drive Technologies and PREMIER presented the nearby Glen Ellyn Food Pantry with a $5,000 donation to help fund its work across DuPage County.

About PREMIER Design + Build Group

PREMIER Design + Build Group is a leading design-build construction firm headquartered in Buffalo Grove, Ill. With a strong track record spanning several decades, PREMIER specializes in providing comprehensive solutions for industrial, commercial, healthcare, residential, retail, and mixed-use construction projects. The company’s unwavering commitment to quality, innovation, and customer service has earned it a reputation as a trusted partner in the industry.

About Sumitomo Drive Technologies

Sumitomo Drive Technologies is a brand of Sumitomo Machinery Corporation of America, one of the most respected names in the power transmission industry. As an industrial manufacturer of premium quality gearboxes, motors, and controls, we operate two prominent facilities – our Headquarters in Chesapeake, VA, and the Large Industrial Gear Unit Manufacturing and Assembly Facility in Verona. Our commitment to innovation, customer satisfaction, and comprehensive solutions makes us an industry leader in power transmission.

A detailed report on the region’s assets, opportunities, and growth areas.

Together, we’re Greater. Choose DuPage has teamed up with World Business Chicago and six other regional county partners to bring to you the Greater Chicagoland Economic Partnership Asset Report. This report is a testament to the collective efforts of partners, stakeholders, and visionaries who believe in the transformative power of regional collaboration known as the Greater Chicagoland Economic Partnership. The report offers in-depth insights and showcases the myriad of assets that make the Chicagoland region a global hub for business. 

What makes Greater Chicagoland a Greater place to do business?

According to the new report, it’s our:

• Size: Chicagoland is the nation’s third largest economy, with $835B in annual productivity and more than 4.9 million workers.  
• Diversity: With a wide breadth of industries, from manufacturing and technology to logistics and more, Chicagoland offers the most diverse economy in the U.S.
• Industry: We’re home to the most diverse manufacturing ecosystem in the U.S., positioning our region for innovation while attracting investment and talent.
• Innovation: In Chicagoland, our diverse blend of startups, established industries, and research institutions collaborate to push industries forward.
• Resilience: With a diverse economy, supportive social systems, and a strategic environmental policy, Chicagoland is ready to adapt to changing conditions and lead the world of tomorrow.
• Cost: Here, you can do more with less. Our region has more affordable real estate and cost of living compared to similarly sized, globally connected metro areas.

Download a PDF of the report here. 

For a deeper understanding of the GCEP and its mission, visit www.worldbusinesschicago.com/gcep.

For more information about doing business in DuPage County, Illinois, visit: https://www.choosedupage.com/ready/ or contact Choose DuPage today.