The Prairie State has emerged as a top destination for companies looking to expand operations or relocate, establishing itself as a powerhouse for business growth and job creation.
There’s something telling about the way the Illinois economic stand, where companies rise like monuments on the prairie. One considers the remarkable transformation: from industrial rust to quantum dust, from abandoned steel mills to giga factories.
Steady Growth
Expansions have marked Illinois’ emergence as second in the nation for business growth in 2023 and 2024, trailing only Texas. The state saw 664 expansion/relocation projects in 2024 alone, a 20 percent increase over the previous year, according to Site Selection Magazine.
The growth continues into 2025, with major companies announcing investments creating thousands of new jobs across the state.
“Illinois continues to attract leading companies to our state, with hundreds of openings and expansions every year,” Governor JB Pritzker stated in 2024. “With our unique incentives, our growing market, and our diverse and talented workforce, there’s no doubt that the economy in Illinois is thriving.”
Major Players Making Moves
Beyond EVs, traditional manufacturing is experiencing a resurgence throughout the state. Several major corporations have announced significant expansions in Illinois, creating thousands of new jobs across multiple sectors:
- Gotion’s $2 billion giga factory in Manteno, creating 2,600 new jobs
- Incobrasa Industries’ $250 million in facility expansion, creating 40 new jobs
- Voortman Steel Machinery’s $51.4 million expansion in Monee, creating 51 new jobs
- Prysmian Group’s $64 million facility expansion, adding 80 jobs
- Manner Polymers’ $54 million facility in Mount Vernon, creating 60 jobs
- Gulfstream’s $285 million investment in Cahokia, creating 200 jobs and retaining 500
- Kraft Heinz’s $400 million distribution center in DeKalb, creating 150 jobs
- Rivian’s $1.5 billion expansion, creating 550 jobs
These investments demonstrate Illinois’ appeal to manufacturers across various specialties, from food processing to steel fabrication and aerospace.
Electric Vehicle Manufacturing Leads the Charge
The EV sectors are establishing Illinois as a central hub. EV and clean energy are seeing growth, thanks to the Reimagining Energy and Vehicles (REV) Illinois incentive packages as they aim to have one million electric vehicles on its roads by 2030.
Rivian, the electric vehicle manufacturer, recently announced a $1.5 billion expansion, creating over 550 full-time jobs. The expansion will increase the plant’s production capacity to 215,000 vehicles annually, focusing on their new R2 SUV Model. This follows Gotion’s $2 billion investment in an electric vehicle battery gigafactory in Manteno – projected to create 2,600 jobs —assemblers, technicians, managers—in a community that has watched other factories close, and their economic life drains away. Gotion will focus on lithium-ion battery cells, battery pack production, and energy storage system integration.
The economic opportunity extends beyond corporations themselves. Each expansion creates ancillary growth—housing developments, restaurants, and business services.
Growing Sectors Driving Expansion
We tell ourselves stories about economic rejuvenation, about tech hubs rising from industrial ashes. This narrative comforts us. Chicago has become, for the eleventh year, a preferred destination for these companies. Illinois is turning heads as companies are drawn by the state’s location, workforce, and supportive business environment.
PsiQuantum; a leading quantum computing company, announced in 2024 that it will build the largest US-based quantum computing facility, with a mission to “build the first commercially useful quantum computer to solve humanity’s greatest challenges”. The company will occupy a 300,000-square-foot Quantum Computer Operations Center. The quantum computing campus alone is projected to generate up to $20 billion in economic impact and create thousands of jobs over the next decade.
Illinois has a vision; to become a global quantum capital and this development solidifies the state as a leading quantum innovation hub.
Looking Ahead
As corporations continue to choose Illinois for expansion, the state is making itself an economic powerhouse and creating a foundation for sustainable economic prosperity. Illinois has positioned itself for growth throughout the following years through workforce development initiatives, investment in infrastructure, and a growing reputation as a business-friendly environment.
For now, the construction continues. Cranes silhouetted against the Midwest sky, cement trucks pouring foundations, workers in hardhats moving with purpose. The prairie is being reshaped and with it, the economic future of Illinois.
Sources
- Illinois.gov. (2025, March 3). “Site Selection Magazine Names Illinois and Chicago as Top U.S. Destinations for Corporate Expansion and Relocation” https://gov.illinois.gov/news/press-release.30988.html
- Illinois.gov. (2025, March 1). “Illinois Ranks #2 in Nation for Corporate Expansions and Relocations for Second Year” https://www.illinois.gov/news/press-release.29678.html
- Illinois.gov (2023, September 8). “Gov. Pritzker and Gotion Announce New $2 Billion Electric Vehicle Battery Gigafactory in Kankakee County” https://www.illinois.gov/news/press-release.26993.html
- Illinois.gov. (2024, March 01). “Illinois Ranks #2 in Nation for Corporate Expansions and Relocations for Second Year” https://www.illinois.gov/news/press-release.29678.html
- PsiQuantum. “PsiQuantum To Build First US-Based Utility-Scale Quantum Computer in Chicago, Illinois” https://www.psiquantum.com/news-import/illinois-iqmp
- Becky Beaupre Gillespie. (2024, July 25). “Startup to build massive quantum campus on Chicago’s South Side” UChicago News. https://news.uchicago.edu/story/startup-build-massive-quantum-campus-chicagos-south-side
