Chicagoland Named Top Metro for Corporate Investment, 11 Years in a Row

"The unprecedented recognition of the?Chicago?Metro region as 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 spot to place for business. Congratulations to all those involved in making this happen and thank you to Site Selection magazine for this recognition." Greg Bedalov, CEO and President, Choose DuPage, and Chairman of Greater Chicagoland Economic Partnership

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.

Learn more about doing business in Chicagoland at www.choosedupage.com.