* Despite all the dire predictions of end times, business still appears to be aggressively expanding in Illinois, according to Site Selection Magazine. The state ranked fifth in the nation for new and expanded corporate facilities, up from from seventh last year.
The state rankings article is here. From a Gov. Pat Quinn press release…
In 2012, Illinois had 322 corporate facilities locate or expand in the state. […]
“More and more companies are choosing Illinois to invest and grow their business,” Governor Quinn said. “I’m committed to advancing Illinois’ competitiveness, and using every tool at my disposal to expand businesses headquartered in our state and encourage others to locate and do business here.”
Illinois joins Texas, Ohio, Pennsylvania, Michigan and Georgia on the list of the top ten states with the most locations and expansions.
With 311 projects, the Chicago-Naperville-Joliet metro area ranked second on the list of cities in the tier one, top ten metropolitan areas list.
Illinois companies that have relocated or seen significant expansions this year include Walgreen, Nippon Sharyo, Chrysler, Woodward and LaFarge among others. Chicago maintained its #2 ranking among the metropolitan areas category for the second year in a row.
To be included in the rankings, new facilities and expansions had to meet at least one of three criteria: (1) involve a capital investment of at least $1 million, (2) create at least 50 new jobs or (3) add at least 20,000 sq. ft. (1,858 sq. m.) of new floor area.
“Illinois has the attributes that are most important to business,” said Adam Pollet, acting director of the Illinois Department of Commerce and Economic Opportunity. “We have a strong and diverse economy, premier logistics network, skilled workforce and an entrepreneurial spirit driven by innovation.”
The Governor’s Cup analyses, issued by Site Selection magazine, are regarded by corporate real estate analysts as “the industry scoreboard.” Site Selection is the senior publication in the corporate real estate and economic development field and the official publication of the Industrial Asset Management Council (IAMC, at www.iamc.org). The magazine’s circulation base consists of 44,000 executives involved in corporate site selection decisions, most at the CEO/President/COO level.
Keep in mind that, unlike other state rankings which use mainly subjective surveys, this one is based on actual data, so it’s quite important.
Also, notice that almost all of these new projects were in the Chicago metro region. Downstate just isn’t attracting businesses, and that’s a real problem.
* ‘One Heck of An Advantage’ - How an Illinois county meets expanding businesses’ most critical requirements.
* What Makes a Business Climate Good?: Seventy-five percent said they work primarily with a state agency contact when conducting a site selection project.
* The hottest urban center in the U.S. — Chicago’s mega-Loop: The city is so hot that this expanded downtown is adding residents faster than any other urban core in America, according to U.S. Census Bureau data.
* Griffin, Zell, Reyeses are top Chicagoans on Forbes billionaire list