Governor Pat Quinn today announced that the state of Illinois has been ranked #5 in the nation for new and expanded corporate facilities. Illinois moved up two spots from last year’s seventh place ranking, according to the annual analysis by Site Selection magazine, one of the nation’s premier corporate real estate and economic development publications. In 2012, Illinois had 322 corporate facilities locate or expand in the state.
Last July, for example, Nippon Sharyo, announced the company’s new U.S. headquarters and passenger railcar production facility in Rochelle, Illinois. Japanese train car manufacturer Nippon Sharyo at bthe time announced it was investing $50 million and creating 250 new jobs in Rochelle, which will help the company increase its competitiveness by moving closer to its U.S. customers and suppliers. The announcement was a result of Governor Quinn’s efforts to bring new business to Illinois and fits into the narrative of this citing by Site Selection magazine.
And last August, the aerospace and energy firm Woodward Inc. announced the company’s plans to invest more than $200 million to build a manufacturing plant and offices in Loves Park, Illinois and to produce a new aircraft turbine product line. That expansion was expected to create more than 660 jobs over the next five years.
Capitol Fax's Rich Miller pointed out that this list, "unlike other state rankings which use mainly subjective surveys, this one is based on actual data, so it’s quite important." But he does point out that most of the "new projects" are in the Chicago Metro area.
"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.
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John is the author of an award-winning book, the 2010 Winner of the USA National Best Book award for African-American studies, published by The Elevator Group Mr. and Mrs. Grassroots: How Barack Obama, Two Bookstore Owners, and 300 Volunteers did it. Also available an eBook on Amazon. John is also a member of the Society of Midland Authors and is a book reviewer of political books for the New York Journal of Books. John has volunteered for many political campaigns.