Chicago named top metro area for corporate investment

This marks the seventh consecutive year the Chicago metro area earned the honor from Site Selection magazine, which tracked hundreds of business expansions and relocations last year that accounted for $5 billion in local investment.

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Mayor Lori Lightfoot at a news conference where she touted Uber’s new offices at the Old Post Office.

Mayor Lori Lightfoot at a news conference where she touted Uber’s new offices at the Old Post Office.

Fran Spielman/Sun-Times

A magazine has named Chicago’s metro area the nationwide leader in economic investment as more companies moved into the region and expanded their current operations last year.

This marks the seventh consecutive year the Chicago metro area earned the honor from Site Selection, a business publication that tracks real estate and corporate development.

The magazine tracked 416 business expansions and relocations in 2019 that accounted for over $5 billion in investment in the Chicago area. That includes Uber Freight’s move into the Old Main Post Office, which brought over 2,000 jobs.

“This announcement highlights the power of inclusive growth in Chicago, which had been a priority since day one for Mayor Lightfoot,” Chicago Deputy Mayor Samir Mayekar said Sunday. “This is exemplified by the fact that we can continue to grow downtown and also have that extended to Chicago’s 77 neighborhoods.”

Blue Cross Blue Shield’s decision to convert a shuttered Target store in Morgan Park into a customer service center helped create 550 jobs, Mayekar said. And Evanston Technology Partners, Chicago’s largest black-owned cybersecurity firm, added 130 new jobs when it set up shop in Bronzeville.

“When you see the types of companies that are growing, you see a balance,” Mayekar said.

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