Illinois job market booms: Jobs increase in all 14 metro areas
The Illinois economy is showing continued strength as the new data reveals that jobs increased year-over-year in all of the state’s 14 metropolitan areas in December. Furthermore, the unemployment rate decreased in 13 of those areas, indicating steady and consistent job growth throughout the state, according to the data from the U.S. Bureau of Labor Statistics (BLS) and the Illinois Department of Employment Security (IDES).
It’s another positive development for Illinois, which is home to the 5th largest economy in the U.S. and dozens of Fortune 500 companies. The job growth was led by industries such as manufacturing, leisure and hospitality, mining, construction, and health services across a majority of the metros. The Lake-Kenosha, Davenport-Moline-Rock Island, Rockford, and Chicago metro areas had the largest over-the-year percentage increases in total nonfarm jobs.
The job growth comes amid Illinois’ ongoing investment in programs and policies designed to spur business development across the state, especially in key areas such as electric vehicles, clean energy, and advanced manufacturing.
The recent job numbers are just one more factor indicating that Illinois has the workforce companies need for growth. For more information on growing your business in Illinois reach out to us here.
Illinois wins historic new EV battery gigafactory
Gotion, a leading battery maker for electric vehicles, recently announced it has chosen Illinois for its state-of-the-art $2 billion plant, creating 2,600 jobs and bolstering the state’s standing as a leading EV manufacturing hub. Slated to start production in 2024, the new factory in Manteno will make 10 GWh of lithium-ion battery packs and 40 GWh of lithium-ion battery cells. Gotion’s decision to locate in Illinois was driven by the state’s robust infrastructure, skilled workforce, business friendliness and compelling incentives.
Latest Investment Guide Shows Why More Companies Are Choosing to Be in Illinois
A thriving economy worth $1 trillion. Unparalleled fiscal progress with eight credit upgrades in two years. More state incentives than ever before. There’s no better place to grow your business than Illinois, and Conway Global’s 2023-24 Illinois Investment Guide gives a detailed look at how the state’s central location, clean energy, highly skilled workforce and world-class infrastructure are attracting more businesses than ever.
Charging Ahead: Three Illinois Projects Powering the Future of EVs
Prysmian Cable, TCCI and Lion Electric expand operations in Illinois with historic facilities focused on electric vehicle innovation and utilizing the Reimagining Energy and Vehicles in Illinois Act (REV Illinois Act), the state’s new incentives program to bolster Illinois manufacturing in the clean jobs economy by attracting companies in the electric vehicle and renewable energy sectors.
Be in touch
Are you ready to be where the action is? Reach out to the Intersect Illinois team to discuss properties perfectly suited for your business.