Site Selection Magazine Recognized Chicago for Leading the Nation in Corporate Investment in 2017
Mayor Rahm Emanuel and World Business Chicago (WBC) today announced that for the fourth consecutive year, Chicago ranked as the “Top Metro” in the United States for corporate investment by Site Selection Magazine. In 2016, the Chicago metro area saw more new and expanding corporate locations than any other area in the country.
“This is the fourth straight year the city of Chicago has been America’s number one city for corporate investment, a testament to both our talent and the investments we are making in our future,” Mayor Emanuel said. “Leading the country in corporate investment means more jobs and opportunities throughout Chicago. The city of Chicago has a bright future, and it is clear that businesses from across the country and around the world want to be part of what we are building here.”
The progress is continuing in 2017 – this past week alone, KPMG and GE Healthcare announced they are adding more than 1,000 jobs to Chicago. Today Mayor Emanuel joined Hickory Farms to announce the company is relocating its corporate headquarters to Chicago from Ohio.
In 2016, WBC tracked a record 350 business expansions and relocations in the Chicago metro. These projects accounted for more than $2.8 billion in investment and nearly 14,000 new jobs. Major relocations and expansions last year included: Beam Suntory, Mars Wrigley, McDonald’s, Wilson Sporting Goods and Motorola Solutions.
“When corporations choose Chicago, they join a tightly knit corporate community in a global city of talent and innovation, a city with engaged business and civic leaders,” WBC President & CEO Jeff Malehorn said. “We have global markets; our economy is diverse; our talent is diverse and we have unmatched assets. All of this serves up Chicago to be top of mind for companies making location and expansion decisions.”
“The Chicago area is a frequent first place finisher in our ranking of metros according to new and expanding projects announced the previous year,” Mark Arend, editor of Site Selection said. “This means corporate facility planners seeking a large metro location are finding in Chicago the location assets they most require.”
A key source for the corporate relocation community, Site Selection Magazine focuses on new corporate facility projects with significant impact, such as headquarters, manufacturing plants, R&D and logistics sites. In order to be considered, new facilities and expansions must meet at least one of three Site Selection criteria: (a) capital investment of at least $1 million, (b) create at least 20 new jobs or (c) add at least 20,000 square feet of new floor area. Site Selection is published by Conway Inc., which is headquartered in Atlanta, Ga.