Chicago Is #1 for Corporate Relocation Again
For the 13th consecutive year, Chicagoland has been named the top U.S. metro for corporate relocation and site selection by Site Selection Magazine. The ranking was fueled by $1.7 billion in earnings and the creation of 19,600 jobs.
The ranking from Site Selection Magazine is determined by the number of qualified private-sector projects, which must involve a minimum of $1 million in investment, create at least 20 new jobs, or add at least 20,000 square feet of new space. In 2025, the Chicago metro area saw 223 such projects, a 40% increase from the previous year. This sustained success is partly due to a collaborative effort by the Greater Chicagoland Economic Partnership, which unites the city with seven surrounding counties to present a unified front in attracting businesses. This regional approach aims to leverage combined assets like extensive infrastructure and a diverse talent pool to compete on a global scale. Illinois offers several key tax incentives to attract and retain businesses, including the Economic Development for a Growing Economy (EDGE) program. This program provides tax credits to companies based on job creation and capital investment. Other significant incentives target the electric vehicle and microchip manufacturing industries. Recent major investments in the area include IT services firm Hexaware Technologies, which is adding 250 jobs, and the community solar provider Nexamp, which established its second national headquarters in Chicago, creating 50 new jobs. Universal Destinations & Experiences is also building a new year-round horror-themed venue, expected to create over 400 permanent jobs. Despite the top ranking, Chicago's business environment faces challenges. The city has the second-highest commercial property tax rate among the largest U.S. cities, and some companies have recently chosen to relocate their headquarters or workforce to the suburbs or other states, citing operational costs and public safety concerns.
