Magazine recognizes Illinois and Texas for positive business climates

Illinois was ranked the second-best state in the nation for corporate projects for a second year in a row by Site Selection Magazine.

Illinois had 552 projects in 2023, up from 487 in 2022. Texas was No. 1 in the country with 1,254 projects, according to the magazine. Illinois also was second in projects per capita, up from No. 4 the previous year, according to a press release. South Dakota was No. 1 in that specific metric.

“Illinois continues to attract leading companies to our state, with hundreds of openings and expansions every year,” Gov. JB Pritzker said in a news release. “With our unique incentives, our growing market, and our diverse and talented workforce, there’s no doubt that the economy in Illinois is thriving. This impressive recognition from Site Selection Magazine for the second year in a row makes it clear: Illinois is back and open for business.”

Opinion: Actually, Illinois is a great place to do business right now. And Gov. Pritzker has helped

Which major businesses expanded or relocated to Illinois?

Companies highlighted in the news release that located or expanded throughout Illinois in 2023 include:

• Gotion - $2 billion electric vehicle battery gigafactory in Manteno, creating 2,600 jobs

• Kraft Heinz - $400 million distribution center in DeKalb, creating 150 jobs

• Gulfstream - $285 million investment in Cahokia, creating 200 jobs and retaining 500

• Incobrasa - $250 million expansion in Gilman, creating 40 jobs and retaining 200

• Prysmian Group - $64 million facility expansion, creating 80 jobs

• Manner Polymers - $54 million facility in Mount Vernon, creating 60 jobs

"Site Selection congratulates state and local economic development professionals across Illinois for the state's second-place finish in both the total projects and projects per capita facilities races," said Mark Arend, editor-in-chief of Site Selection. "This demonstrates to our readers that Illinois is delivering the right location criteria to companies siting new projects and expanding existing ones."

Corporate real estate analysts regard Site Selection's yearly analyses as "the industry scoreboard," according to the press release from the state of Illinois. To qualify, projects must meet one or more of these criteria: investment of $1 million or more, creation of 20 or more new jobs or 20,000 square feet or more of new space.

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This article originally appeared on Journal Star: A big reason why Pritzker says Illinois economy is thriving