The undeniable economic influence of the Great Lakes— a regional spread of eight U.S. states and two Canadian provinces— has been driven by its ability to naturally produce for generations.
WHERE BUSINESS WORKS
Copious natural resources found within rich mineral deposits, a diverse forest landscape and fruitful soil, largely bolstered by proximity to the world’s largest freshwater ecosystem, scaled the nation’s once thriving Rust Belt reign. These same benefits stretch into Ontario and Quebec, provinces that are now home to more than 60% of Canada’s total population.
Industrial growth saw mining, agriculture, energy, manufacturing, transportation and health care industries thrive, while cultivating a prime trade corridor between the U.S. and Canada. This vital market reach led the megaregion to become a hotspot for both domestic and international businesses and their respective operations, contributing over $6 trillion in total gross domestic product (GDP) in 2024.
When combing through the more than 5,000 project investments announced throughout the Great Lakes region from August 2023 to July 2025, quite a few industries emerged as dominant while paying homage to legacy industries.
By total number of new projects, the top 10 industries are as follows: Machinery, Equipment & Construction (836); Business & Financial Services (646); Food & Beverage (585); Transportation & Logistics (538); IT & Communications (343); Chemicals & Plastics (331); Metals (296); Consumer Products (262); Electronics (241); and Automotive (227).
ILLINOIS
Illinois led the pack with 1,229 project announcements during this period. The state currently holds the fifth largest GDP in the nation behind Florida, although it is not too far behind its Great Lakes neighbor, New York.
Site Selection named the state’s Chicago-Naperville-Elgin metro area the No.1 Tier 1 Metro for the 12th consecutive year in 2024, bolstered by over 580 new and expansion project investments alone. Over the past two years, the metro region attracted the majority of 169 announced business and financial services operations in Illinois, driven by the city’s affordable commercial real estate offerings in comparison to other top markets. The metro has already recorded over 3.1 million sq. ft. of leased office space in 2025, representing one of the market’s strongest years since 2018, according to Newmark.
A closer breakdown of projects by quantity reveals the state drew 226 new investments in transportation and logistics; 189 in machinery, equipment and construction; 127 in food and beverage; and 92 in consumer products. While Illinois only saw 70 IT & communications projects, they delivered the largest investment boost. These investments were led by Compass Data Centers, CyrusOne, Stack Infrastructure, Aligned Data Centers, Stream Data Centers and many more who brought billions into Illinois, mainly in Chicago’s suburbs.
OHIO
Ohio followed with 990 total projects, led by the machinery, equipment and construction sector at 193 projects. The sector saw a healthy mix of new and expansion investments toward manufacturing, distribution and office space. Data show these operations preferred top Ohio locations such as the Cincinnati, Cleveland, Colombus, Findlay and Dayton-Kettering-Beavercreek metros.
Of the 122 food and beverage projects throughout the state, Pennsylvania-based Sheetz Inc. delivered the largest investment, a $150 million food preparation and distribution facility in Hancock County. The more than 511,700-sq.-ft. facility is expected to become operational by mid-2026, creating 750 new jobs in the region. Sheetz’s investment plans additionally include two new storefront locations in the county to expand the project’s impact locally.
The state saw a tie with 85 metals and 85 chemicals and plastics projects. Both industries have been foundational to the state’s manufacturing legacy, which has cemented Ohio as the second top steel-producing state and the No. 1 state for plastics and resin manufacturing. Moving away from manufacturing, Ohio pulled in 78 business and financial services and 73 transportation and logistics investments.
NEW YORK
New York was the only other Great Lakes state to attract over 500 projects during this period, accounting for a total of 604. By no surprise, 229 business and financial services investments, 226 of those landing in New York City, set the state’s roster apart. Otherwise, New York saw a diverse mix of industry investment across top-performing sectors with 67 IT & communications, 66 machinery, equipment & construction, 59 food and beverage and 37 life sciences projects.
The state’s robust film industry led its IT & communications sector’s top projects. Vornado Realty Trust, Hudson Pacific and Blackstone’s $350 million purpose-built studio development at Pier 94 in Manhattan, which began construction in 2023, is expected to become operational by the end of 2025, creating 400 direct jobs. Over the next 30 years, the project will contribute a $6.4 billion economic impact, supporting the state’s overall $81.6 billion total economic output. At the same time, the $275 million, 750-job East End Studios Sunnyside Campus in Queens is scheduled to open doors to the 340,000-sq.-ft. production studio in September 2025.
In April 2025, Chobani announced plans for a $1.2 billion dairy processing plant in Upstate New York, marking the largest natural food manufacturing investment made in the nation. The 1.4-million-sq.-ft. plant will be housed at a 150-acre site once home to the Griffiss Air Force Base in Rome, creating 1,000 direct jobs
ONTARIO & PENNSYLVANIA
Ontario and Pennsylvania remained neck-in-neck with 489 and 482 projects, respectively. The Canadian province didn’t see major outliers across its top sectors — machinery, equipment & construction (82); food & beverage (71), IT & communications (41); transport & logistics (40); chemicals & plastics (39); metals (34); and business & financial services (31) — though fresh investments place focus on the region’s manufacturing capabilities and agricultural strengths.
Homegrown sweets manufacturer Ferrero Group invested $445 million in the expansion of its Brantford site in early 2025, targeting an array of new product offerings. The project will create 500 new jobs and introduce production of Ferrero Rocher chocolate squares and manufacture Nutella Biscuits for the first time in North America. The company stated that it would resource its ingredients and packaging materials solely from Ontario farmers and suppliers.
Within this two-year period Ontario saw an influx of automotive investment as well, albeit representing only 23 of its total projects. Ford Motor Company and Linamar Corporation ushered in a combined $3.3 billion toward manufacturing facility expansions as both companies aim to increase EV production activity.
Anticipate supply chain support for regional automotive activity to scale as Tokyo-based chemicals company Asahi Kasei announced Ontario’s largest project investment in May 2024, according to the data. The company is constructing the country’s first industrial-scale EV battery separation plant at Port Colborne, whose ideal geographic positioning aims to enhance Asahi Kasei’s presence in the North American market.
From 2023 to 2025, Pennsylvania secured the Great Lakes region’s best investment performance with a keen focus on driving AI and energy innovation. The state’s most impressive investment influx came in July 2025, as over $90 billion in new technology and energy projects were announced across the commonwealth.
