Corporate expansion last year “from Groupon to U.S. Steel” has landed Chicago as the top metro area for corporate investment by Site Selection magazine, World Business Chicago said today.
World Business Chicago, a city-funded agency charged with attracting and retaining businesses, said it submitted 115 projects that invested $1.6 billion in 2010 to the publication for consideration. The Chicago area topped several runners-up, including Houston, Dallas, Cincinnati and New York.
“From Groupon to U.S. Steel, people in the metro Chicago area know how to plan, design and build great organizations that are innovative and competitive with the best and brightest minds around the world,” said Site Selection Magazine’s general manager, Ron Starner in a statement. “Chicago winning the Top Metropolitan Area of the Year is no accident. Its huge industrial base, its thriving technology sector and its abundance of highly skilled workers make Chicago an easy choice for expanding companies.”
For consideration, new facilities and expansions needed to include at least $1 million in capital investment, create at least 50 jobs or add at least 20,000 square feet of “new floor area,” World Business Chicago said.
“Our city offers a diverse economy, unmatched talent pool, easy access to the world, and an incomparable quality of life -– companies and their employees want to be in Chicago,” World Business Chicago president Rita Athas said in a statement.
To see the complete ranking in the March issue of Site Selection, go to www.siteselection.com.