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The greater Chicago area has once again been named number one metro in the U.S. for site selection according to Site Selection Magazine, which ranks major American metros based on corporate investment.
The city earned the top spot thanks to an influx of projects in Cook County funded by major companies like Facebook and Walgreens. Major corporations have flocked to Chicago to take advantage of its world class workforce, which boasts the second highest concentration of computer science graduates in the nation and the sixth most STEM worker in the country.
The growing number of corporations investing in Chicagoland does not end with the Cook County border. In neighboring Will County, multiple firms have built large distribution centers, including a recent investment from IKEA. Suburbs such as Arlington Heights, Bolingbrook and Naperville are becoming the new homes of manufacturing projects for companies such as IHerb and G&W Electric.
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Illinois agriculture extends beyond the fields of corn, beans and wheat you see while driving on the highway. Illinois is ranked first in the country for food processing sales and is home to 2,372 food processing companies, which support more than 71,000 jobs in our state. Every day we are impacted by the agriculture in our state.
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Today, March 1 is National Pig Day, which is cause to celebrate in Illinois because we are one of the nation’s top four pork producers. Pig Day is mostly celebrated in the Midwest since it is the home of the holiday. Pigs are an important part of diets and economies all over the world, our country and more specifically, our state.
Only North Carolina, Iowa and Minnesota outranked Illinois’ 1.9 billion pounds of pork production in 2011.
The pork industry contributes more than $1.8 billion to the state’s economy and generates more than $170 million in state taxes. On top of that, market hogs consume about 155 million bushels of corn each year, the equivalent of more than 911,000 acres. Market hogs also consume about 32 million bushels of soybeans.
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The famous Chicago architect Daniel Burnham is credited with the quote: “Make no little plans; they have no magic to stir men's blood.” As Illinois’ construction industry continues to add jobs and create inspiring places to live, work and enjoy, it is clear that developers are heeding Burnham’s advice.
Nearly 10 years after the start of the Great Recession, real estate development is once again thriving in Chicago. Around the city, there are encouraging signs of investment as cranes continue to rise at worksites, creating jobs and bringing residents into brand-new housing developments.
Reports from the Chicago Department of Buildings suggest that 2017 was a record year for development in the city, with over 40,000 construction permits issued, a five-year high. Over the course of the year, 62 construction cranes towered above the city, up from 12 during the toughest stretch of the recession.
In Chicago, the birthplace of the skyscraper, there are 47 ongoing construction projects that will rise 100 feet or higher once completed. As recently as 10 years ago, such widespread and grand development would have been unthinkable.
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Illinois is leading the Midwest in investments in parks, recreation and education according to the most recent report on national rankings from the Commission on Government Forecasting and Accountability.
Illinois far outranked fellow Midwestern states in spending on parks and recreation. Illinois ranks third in the nation in overall spending on parks and recreation and fifth on a per capita basis. None of the other Midwestern states broke the top 20 in this category, with Iowa coming in next in the Midwest at 21st on a per capita basis. Indiana and Kentucky rank 50th and 48th respectively. Parks and recreation opportunities in the state enable residents to lead a more healthful and active lifestyle and can spur economic development through tourism.
The most recent data shows that Illinois is spending above the national average on elementary and secondary education and is leading the Midwest in this category as well. Illinois ranks fifth in the nation for the amount spent on elementary and secondary education. This spending includes both money from the state and property tax revenues. Illinois is followed by Ohio and Michigan, ranked 8th and 10th respectively. By investing in our youth, Illinois is investing in our future.
The Commission publishes several reports each year, including special topic reports that have or could have an impact on the economic well‐being of Illinois. All reports are available on the Commission’s website.
To read the full report, click here.