Site Selection Magazine Names Illinois and Chicago as Top U.S. Destinations for Corporate Expansion and Relocation
Illinois ranked #2 for the third consecutive year, building on unprecedented private sector investments
CHICAGO – Today, Governor JB Pritzker, the Illinois Department of Commerce and Economic Opportunity (DCEO) and Intersect Illinois announced that Site Selection Magazine, the leading publication in corporate real estate and facility planning, has ranked Illinois #2 for corporate expansion and relocation for the third year in a row, and Chicago was named the #1 metro for the twelfth consecutive year. This achievement follows another year of success in attracting new businesses and economic opportunities through historic investments in site readiness, workforce development and infrastructure improvements, making Illinois a top state to do business.
“Illinois continues to attract leading businesses and with expansions and relocations increasing 20 percent increase over 2023, the State is growing its reputation as a premier global destination to do business,” said Governor JB Pritzker. “With unmatched infrastructure and incentives, a talented and qualified workforce, and a diverse array of industry leaders, it’s no surprise that Illinois has achieved this impressive recognition from Site Selection Magazine for the third year in row.”
Team Illinois — a collaboration between the Governor’s Office, DCEO, Intersect Illinois, and other partners focused on attracting economic growth and jobs to Illinois — has worked hand in hand to foster a thriving business environment, solidifying Illinois as a global destination for corporate relocation and expansion through innovative site readiness programs and unique incentive packages.
“Illinois continues to demonstrate its leadership in driving economic growth, and being ranked #2 by Site Selection Magazine for the third consecutive year is a testament to our state’s exceptional business environment,” said DCEO Director Kristin Richards. “With unparalleled incentives, a robust workforce, and world-class infrastructure, Illinois remains a prime destination for companies looking to grow and innovate.”
Illinois saw 664 business expansion or relocation projects in 2024 (up from 552 in 2023) and also placed #2 in projects per capita. Companies that located or expanded throughout Illinois in 2024 include:
- PsiQuantum: serving as the anchor tenant of the Illinois Quantum and Microelectronics Park, creating at least 150 new jobs and $1.09 billion in capital investment.
- Sysmex America, Inc.: growing its operations in northeast Illinois, creating 110 new full-time jobs and retaining nearly 550 existing jobs through a $20.6 million investment.
- Aluflexpack AG: expanding its operations to Bolingbrook with a $10 million investment and 30 new full-time jobs.
- Wieland Rolled Products North America: investing $500 million, reinforcing its long-term commitment to six facilities across the state.
- Bedrock Materials: locating its research and development headquarters in Chicago and plans to expand its footprint in Illinois with a $2.5 million investment.
- Ymer Technology: opened its U.S. headquarters in Buffalo Grove with a $5.7 million investment.
“At Intersect Illinois, we are committed to driving business growth, attracting strategic investment, and strengthening relationships with domestic and international stakeholders,” said Christy George, President and CEO of Intersect Illinois. “The momentum we built in 2024 is a testament to Illinois’ competitive advantages – from our Vetted Sites program to the State’s workforce development initiatives to targeted investments in high-growth industries. Team Illinois is making a compelling case for companies across the nation and around the world to choose our state as their home for innovation and success.”
Illinois’ strong fiscal growth — including nine credit upgrades since 2021 and doubled private sector investments in 2024 — has laid the foundation for continued growth in key industries outlined in Illinois’ Economic Growth Plan. With these targeted investments, the state is becoming a nation-leader in emerging industries including quantum technology, electric vehicle manufacturing, clean energy production, next-generation agriculture and more.
“A second-place finish in both Governor’s Cup contests — for total qualified projects and total projects per capita — is a remarkable accomplishment,” said Mark Arend, editor emeritus of Site Selection magazine and author of the publication’s March cover story announcing the winning states. “It signals to our readers that companies are investing substantial capital in Illinois as the 664 projects it won in 2024 demonstrate.”
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.
