Illinois Shocks Nation Again: Why Pritzker's Corporate Ranking Could Change Your Future Forever!

CHICAGO - In a significant boost for Illinois' economic landscape, Governor JB Pritzker, alongside the Illinois Department of Commerce and Economic Opportunity (DCEO) and the Illinois Economic Development Corporation (Illinois EDC), announced that Site Selection Magazine has ranked Illinois #2 for corporate expansion and relocations for the fourth consecutive year. Notably, Chicago has been named the #1 metropolitan area for the 13th year in a row, underscoring the city’s enduring appeal to businesses.

This accolade highlights Illinois' persistent attractiveness to industry players, particularly given that the state has secured the #2 position for projects per capita for three years running. Corporate real estate experts regard Site Selection’s annual rankings as “the industry scoreboard,” assessing qualifying projects that involve investments of $1 million or more, the creation of 20 or more new jobs, or the development of 20,000 square feet or more of new space.

“Once again, Site Selection is highlighting Illinois’ role as a nation-leading hub for business development. This impressive recognition reflects our efforts to foster a robust, future-focused economy that empowers companies to put down roots and grow in Illinois,” Pritzker stated. He attributed this success to the state’s “innovative workforce development efforts, competitive incentives, and unmatched infrastructure,” solidifying Illinois' status as an economic powerhouse.

Lieutenant Governor Juliana Stratton echoed these sentiments, emphasizing the state’s business-friendly environment. “If you are looking to expand and grow, there is a place for you here. This is something we and our fellow Illinoisans have known for a long time, but we are very pleased to be able to share the news — Illinois is open for business.”

The collaborative initiative known as Team Illinois has played a vital role in creating a thriving business environment. This partnership includes the Pritzker Administration, DCEO, Illinois EDC, local economic development organizations, utilities, higher education institutions, and business representatives. The state has focused on a variety of initiatives, including competitive incentive packages, investments in site readiness, and workforce programs, which have significantly strengthened Illinois’ position as a prime location for corporate expansion.

DCEO Director Kristin Richards remarked on Illinois’ economic performance, stating, “Illinois continues to solidify its position as an economic powerhouse through its consistently high rankings as a top destination for corporate growth. We got here by being intentional — from providing unmatched incentives to supporting our world-class workforce.”

The numbers speak for themselves. In 2025, Illinois documented 680 business expansion or relocation projects, marking an increase from 664 in 2024. Among the notable companies that established operations in Illinois last year were:

• Pure Lithium: Relocating its entire operation from Boston to Chicago for manufacturing lithium metal batteries.
• Damera Corporation: Opening its first U.S. assembly plant in Greater Peoria for electric buses.
• Rivian: Investing $120 million to create a 1.2 million-square-foot supplier park in Normal, attracting further investments from suppliers like Adient and OPmobility.
• Cronus Chemicals: Committing to construct a new $2 billion fertilizer production facility in Tuscola.
• Silesia: Expanding its Illinois footprint with a new flavor innovation and production facility in Huntley.
• Epic Pharma Solutions Inc.: Opening its first U.S. facility in Pekin, further enhancing Illinois' standing in foreign direct investment and life sciences innovation.

In addition to corporate relocations, Illinois is making strides in the high-tech arena. Ground has been broken on the Illinois Quantum and Microelectronics Park (IQMP) on Chicago’s South Side, which will feature PsiQuantum as the anchor tenant. Newly committed tenants include Infleqtion, a leader in quantum computing; Pasqal, a French innovator in the field; and Diraq, an Australian startup working with the Defense Advanced Research Projects Agency on quantum technologies.

“Illinois has entered a new era of economic development — one defined by innovation, close collaboration, and a commitment to unlocking the state’s full potential,” stated Christy George, President and CEO of Illinois EDC. The sustained performance in these rankings sends a powerful message to investors worldwide that Illinois is capable of offering the stability, talent, and infrastructure necessary for business success.

The state's solid fiscal growth, which includes 10 credit upgrades since 2021 and investments in its Rainy Day Fund, lays a promising foundation for continued growth in key industries like quantum technology, life sciences, clean energy manufacturing, and next-generation agriculture.

As Adam Bruns, Editor in Chief of Site Selection, noted, achieving the #2 rank in total corporate projects, as well as #2 in projects per capita, is no small feat. "Having Chicagoland as the #1 metro area in the nation by projects certainly helps," he noted, alongside the wealth of projects in smaller towns such as Charleston-Mattoon and Galesburg.

Illinois continues to impress in major economic development rankings, including those from Site Selection Magazine and CNBC. The state ranks #1 in the Midwest for workforce development and saw Cook County and Lake County make the Top 10 in economic development. Additionally, Illinois secured 11 top spots in Business Facilities Annual Business Rankings.

As the state moves forward, it appears poised to maintain its trajectory of growth, fostering an environment that is not only competitive but also innovative and resilient, making an indelible mark on the American economic landscape.