Site Selection magazine honors Illinois as potential location for job creation. A magazine aimed at CEOs and corporate executives has honored Illinois as one of the top states in the U.S. with the most qualifying new and expanded facilities per capita. A total of 434 new job-creating projects of the types tracked by Site Selection were announced in 2016. In the eyes of the magazine, this made Illinois the No. 3 “site selection” state in the U.S. in 2016, with Texas and Ohio as #1 and #2.
Projects tracked by Site Selection include corporate headquarters, manufacturing plants, R&D operations, and logistics sites. They must involve a capital investment off at least $1 million, create at least 20 new jobs, or add at least 20,000 square feet of new floor area. Illinois House Republicans have made a specialty in recent years of pushing for new logistics sites, with the General Assembly enacting changes to Illinois tax law to encourage this class of investment and job-creating activity. Rep. Christine Winger’s HB 3245, scheduled for a hearing in the House Revenue Committee next week, is one of the bills that continues this push.
Site Selection noted that almost all of the private-sector investment activities they tracked in 2016 were concentrated in the Chicago area. Of the new Tier 1 job-creating projects noted by the magazine, 424 were located in the Chicago-Naperville-Elgin expanded Chicagoland metropolitan area.