Leads the nation in corporate investment in 2019, according to Site Selection magazine
CHICAGO—Mayor Lori E. Lightfoot and World Business Chicago (WBC) today announced that for the seventh consecutive year, Chicago has been ranked “Top Metro” in the United States for corporate investment by Site Selection magazine. In 2019, the Chicago metro area once again saw more new and expanding corporate locations than any other region in the country.
“Unmatched talent, connectivity and infrastructure are found in every part of Chicago, which gives businesses the confidence they need to thrive and grow,” Mayor Lightfoot said. “Being named number one in the nation for corporate relocations and expansions is a testament to the strength of Chicago’s dynamic economy, powered by industry in communities across the city. We thank our corporate partners for their continued confidence in Chicago, and for their commitment to propel jobs and investment that will help see all Chicagoans prosper.”
In another sign of Chicago’s market strength, the City was also named number one in the U.S. for foreign direct investment (FDI), according to the 2019 IBM Global Location Trends report. The annual report, which outlines the latest trends in corporate location selection, named Chicago the top North American metro in foreign direct investment projects.
Site Selection tracked 416 business expansions and relocations in the Chicagoland MSA, accounting for more than $5 billion in investment. Major corporate expansions last year reflected growth in top industries, from tech to manufacturing, including Uber Freight, KeeperSecurity, Accenture, SpotHero, Snapsheet, Fyllo, Health Joy, and Farmer’s Fridge; citing Chicago’s diverse pipeline of talent, global connectivity and other core strengths as reasons why.
“We chose to expand our global headquarters in Chicago for a few key reasons. First, Chicago is a clean, organized and conducive environment to build a great business,” said Darren Guccione, CEO & Co-Founder, Keeper Security. “Chicagoans are friendly, talented, diverse and driven – they have a passion to help build successful businesses with global impact. Chicago’s technology ecosystem and networks aligned with our strategic plans. This not only had a local impact on our new headquarters, it also helped fuel our global expansion.”
“Companies like Keeper Security choose Chicago because they know Chicago is the place where their business can truly thrive,” said Andrea Zopp, President and CEO, World Business Chicago. “Site Selection’s award confirms that everything from our diverse and highly educated pipeline of talent, our growing tech and innovation ecosystem, global access, affordability, and quality of life, make Chicago an ideal home for businesses looking to root, grow and expand.”
“As Deloitte Global Location Strategy Leader Darin Buelow told us, Chicagoland is winning projects because of talent,” says Site Selection Managing Editor Adam Bruns. “The region is still eminently affordable compared to some coastal metros, and prospers thanks to a blend of industries from tech to advanced manufacturing to logistics. The combination of neighborhood focus, institutional strength, cultural richness and corporate citizenship is hard to beat.”
Chicago will continue to propel its economic growth in the years ahead through a new economic growth strategy led by Mayor Lightfoot. The Mayor’s 10-year economic growth plan is focused on fueling the growth of technology and other high impact industry sectors to drive inclusive economic growth, expand jobs and restore Chicago’s population to three million residents. This plan will work to attract investment from all over the world by highlighting the best of Chicago—from the strength and talent of our people, to our top- notch education institutions and world class transportation—found across Chicago’s 77 diverse community areas.