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Illinois Ranks Third in the Nation for Corporate Investment

March 2, 2022

480 projects accounted for 21,000 jobs and $3.5B in investment in 2021

Illinois ranks third in the nation for number of corporate expansion and relocation projects in 2021 in Site Selection magazine’s annual Governor’s Cup report on economic development efforts across the country. The publication noted 480 Illinois projects in 2021 accounting for 21,000 jobs and $3.5B in investment, moving the state up from the number four spot in the previous year’s rankings.

“Companies want to be in Illinois to take advantage of our central location and productive workforce,” said Intersect Illinois CEO Dan Seals. “These rankings also reflect our focus on key industries like electric vehicles and healthcare, where Illinois has particular strengths.”

The issue also named the Chicago metropolitan area as the Top Metro for corporate investment for areas with populations over 1 million for the 9th straight year. The magazine sites food, e-commerce, manufacturing, life sciences and tech as being drivers for nationwide growth and notes that the Chicago region’s diverse economy makes it well-positioned to accommodate projects in these sectors.

Top Illinois projects included in Site Selection’s count include:

  • Amazon, 15 locations/projects throughout state
  • Discover, Chicago – 1,000 jobs
  • Rivian Automotive, Normal – 1,000 jobs and $75M investment
  • Medline, Libertyville – 600 jobs and $12M investment
  • Regal Mile Studios, Chicago – 584 jobs and $60M investment
  • Blue Cross Blue Shield, Chicago – 550 jobs
  • Lion Electric, Joliet – 372 jobs and $70M investment
  • Scotts Miracle Grow, Channahon – 350 jobs and $84M investment
  • Boeing, Mascoutah – 300 jobs and $200M investment

“Illinois is the best place to live, work and do business and our state continues to be a national leader when it comes to having the ingredients businesses need to succeed,” said Sylvia I. Garcia, Acting Director of the Illinois Department of Commerce & Economic Opportunity. “Under Governor Pritzker’s leadership, Illinois continues to be a leader in world class talent, strong infrastructure and high quality of life.”

“The Governor’s Cups recognize not only the winning governors, but their entire economic development teams, and by extension, the many professionals throughout their states who work every day to attract new investment and retain and grow existing businesses,” says Mark Arend, editor in chief of Site Selection.

Site Selection’s yearly analyses are regarded by corporate real estate analysts as “the industry scoreboard.” To qualify, projects must meet one or more of these criteria: investment of US$1 million or more, creation of 20 or more new jobs or 20,000 sq. ft. or more of new space.