Illinois recorded nearly 500 corporate expansion projects in 2022. | Pexels.com / Yury Kim
Illinois recorded nearly 500 corporate expansion projects in 2022. | Pexels.com / Yury Kim
Illinois recorded 487 corporate expansion projects last year, the second highest level among the 50 states, according to a new report from Site Selection Magazine.
The Prairie State came in second in the Site Selection study, behind Texas, with 1,028 projects recorded during 2022. And in terms of corporate projects on a per-capita basis, Illinois finished fourth in the analysis.
Meanwhile, the city of Chicago was rated the top metro area for corporate relocation and site selection. Among the projects around the state cited in the study were the CyrusOne Data Center in Aurora and the Ferrero manufacturing facility in Bloomington.
The Site Selection analysis comes against the background of other studies that have shown Illinois’ out-migration of residents to other states is among the highest in the nation.
The state has surpassed $1 trillion in gross domestic product for the first time and continues to generate new jobs, according to Illinois’ acting director of the Department of Commerce and Economic Opportunity, Kristin A. Richards.
"We're proud to have nearly 500 corporate investments in 2022, and looking ahead, we are doubling down on our business attraction and retention efforts to support economic development in every corner of the state,” Richards said in a prepared statement.
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2022 Corporate Expansion Projects by State
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