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Chicago named best corporate relocation target

Chicago is home to at least 11 Fortune 500 companies and hundreds of promising start-ups. | Chicago Sun-Times Photo

Chicago is No. 1 when it comes to corporations that want put down roots in a new location.

Site Selection magazine recently named Chicago as the “top metro area in the nation for corporate relocation and investment,” for the fifth straight year.

The magazine is published in Atlanta. It tracks headquarters, manufacturing plants and logistics sites, among other things. In order to be considered, new facilities and expansions must meet at least one of three criteria: capital investment of at least $1 million; creation of at least 20 new jobs, or at least 20,000 square feet of new floor area.

Chicago claimed the top spot in the rankings was based on “77 distinct city neighborhoods in various phases of realizing their potential, 275 municipalities and seven counties comprising the new Chicago Regional Growth Corporation, 10 viable candidate sites for Amazon HQ2 or any other corporate campus, impressive transit-oriented, mixed-use redevelopment and — perhaps best of all — housing stock that people can actually afford,” Adam Bruns, managing editor of Site Selection, said in a press release.

Some reasons Chicago was put at the top of the list; McDonald’s impending move to the West Loop, after spending 40 years in Oak Brook; being named one of the finalists to become Amazon’s second headquarters; and O’Hare Airport’s scheduled terminal expansion.

Houston, Dallas, Atlanta and New York rounded out the top five.

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