Chicago No. 1 in annual ranking for corporate relocations

The Chicago area was named the top U.S. metro for corporate relocations and site selection for the 13th year in a row by Site Selection Magazine, the World Business Chicago announced on Monday.

World Business Chicago, the city’s nonprofit economic development agency, last year counted 223 corporate expansions, projects and new entrants in the Chicago area. The 40% year-over-year increase in activity represents $1.7 billion in annual earnings and the creation of an estimated 19,600 jobs.

The projects include office, industrial, corporate headquarters, warehouse, data and call centers. Some launched in 2025, while others will open in 2026, 2027 and beyond.

The Chicago area’s “industrial depth, combined with modern infrastructure and a skilled workforce, is why companies continue to choose Chicago to grow, invest and innovate,” Mayor Brandon Johnson said in a news release.

He cited recent projects like Universal Horror Unleashed, Hexaware Technologies, The Hand and The Eye, Freedman Seating Co., Infleqtion and Theatre of the Mind, the collaboration between David Byrne and The Goodman Theatre.

World Business Chicago CEO Phil Clement said the organization’s long-term strategy, called Chicago 2050: A Plan for Economic Growth and Jobs, outlines a road map to grow the regional economy from about $950 billion today to more than $1.4 trillion by 2050.

Last May, Hexware Technologies opened a new office in the Loop at 145 S. Wells St. The global IT firm expects to add 250 employees over five years.

Amazon announced a fulfillment center in Bolingbrook that is expected to create some 1,200 jobs after it opens later this year.

The $185 million Hollywood Casino Joliet opened last summer.

Fortune Brands Innovations, a security and digital products company, expanded in Deerfield. It expects to create at least 400 full-time jobs by 2027.

Magic venue The Hand and The Eye will open this spring in Downtown at the historic McCormick Mansion, 100 E. Ontario St. The $50 million, 35,000-square-foot site will offer “immersive theater, dining and illusion,” according to World Business Chicago.

In River West, Universal Horror Unleashed will transform a 114,000-square-foot commercial building, formerly the Chicago Tribune’s distribution center at 700 W. Chicago Ave., into an entertainment complex. The project will create about 400 jobs and is scheduled to open next year.

Universal Destinations & Experiences, a division of Comcast NBCUniversal, chose Chicago to build its second year-round House of Horrors entertainment complex in the nation — and the first in the Midwest. The first park opened last year in Las Vegas.

Of more than 200 projects announced last year, manufacturing remained the largest sector, accounting for 38%, according to World Business Chicago.

Professional, scientific and technical services represented 16% of projects, highlighting expansion in engineering, technology and innovation. Transportation and warehousing made up 13%. Finance and insurance accounted for 6%.

“Chicago wins because of structural advantages — central geography at the heart of North American trade, the busiest multimodal freight network in the country, unmatched global connectivity through O’Hare and a 5.5 million–person workforce that spans advanced research to essential operations,” Clement said in a news release.