AGP Executive Report

Auto Industry: Rivian said its Illinois-made R2 became its top-selling model in the third quarter and expects production growth to help deliver positive automotive margins by year-end. Bears and Investment: Illinois lawmakers are weighing legislation to keep the Bears in the state as stadium talks advance, though public infrastructure costs remain uncertain. Housing: Gov. JB Pritzker and the Illinois Housing Development Authority announced $156 million for homebuilding, supportive housing and buyer assistance amid a statewide shortage. Regional Infrastructure: A century-long planning effort for northeastern Illinois flags looming strains on water, power, transit and housing, including added pressure from data centers. Business Climate: The Chicago business barometer still indicated growth in October but fell short of forecasts, pointing to a manufacturing slowdown; meanwhile, crypto groups are challenging Illinois’ proposed tax rules, arguing they could burden decentralized finance and self-custody.

Manufacturing: Chicago’s business barometer eased in October, missing forecasts but still signaling growth. John Deere plans to hire more than 400 workers and recall over 275 at its Waterloo operations, while Illinois facilities in Moline and Milan are also hiring. Labor: About 1,200 Chicago parking workers have authorized a strike, raising the prospect of disruptions at airports, hotels and office buildings after their contract expired. Infrastructure: Illinois secured $56.7 million for rail and port projects in Decatur and Granite City; the Chicago South Shore line also received a $2.88 million federal grant. Bears Stadium: Illinois lawmakers are expected to consider legislation to keep the team in the state, as reports point to a possible stadium deal. Cannabis: Illinois sales are nearing $2 billion under the state’s legalization law, though a new report says nearly half of users still buy from the illicit market. Higher Education: Illinois State University is seeking $517.5 million in state funding for operations, student aid and campus projects in fiscal 2028.

Bears Stadium: Reports say Chicago is nearing an agreement to keep the team in Illinois, reviving plans for a major local development project after months of uncertainty. Corporate Results: North Chicago-based AbbVie beat third-quarter earnings and revenue forecasts, while Chicago-based Exelon and Cboe also topped expectations. Marquette National reported slightly higher year-to-date income, alongside lower deposits and assets. Chicago Business Climate: Mayor Brandon Johnson’s proposed budget would raise the software and equipment lease tax and add a monthly fee for larger employers as the city works to close an $882 million gap. Investment & Jobs: Equinix’s sixth Northern Illinois data center is expected to create up to 50 permanent jobs; the company has more than 200 employees in Illinois. IMTS also extended its McCormick Place partnership through 2034, reinforcing an estimated $500 million annual economic impact for Chicago.

Stadium & Investment: A revived Illinois financing proposal could help keep the Bears in Arlington Heights, with tax treatment and public financing still under discussion. A separate Bridgeport stadium concept would put a dome at the White Sox’s Rate Field site. Chicago Business Costs: Mayor Brandon Johnson’s 2027 budget plan includes a $25 monthly corporate tax and a 15-cent fee on single-use delivery packaging, proposals that could add costs for businesses as the city faces a $17.6 billion budget. Energy Bills: Peoples Gas seeks a $144 million rate increase, but state regulators’ proposed order would cut that to about $66 million; consumer advocates delivered more than 10,000 comments urging deeper reductions. Candidates for governor also disagree on how to address rising energy costs and data-center demand. Illinois Industry: Rivian’s Normal-made commercial electric van outsold its R1 SUV and pickup combined in the third quarter, with 8,469 sales—up 221% from a year earlier. Corporate Results: Chicago-based Ryan Specialty reported $790 million in third-quarter revenue and $88 million in net income, both ahead of analyst expectations; Crystal Lake’s AptarGroup also topped earnings and revenue forecasts.

Banking: Mattoon-based First Mid reported $33.3 million in third-quarter profit and agreed to buy Evergreen Bancshares, expanding its reach in the St. Louis region, Illinois and Indiana. Corporate Earnings: Downers Grove’s Federal Signal beat earnings estimates but missed on revenue; Deerfield-based Baxter returned to profit on stronger-than-expected sales, while Hyatt’s adjusted earnings topped forecasts as revenue fell short. Chicago Business Costs: Mayor Brandon Johnson’s proposed 2027 budget would add a $25 monthly corporate tax, raise the lease tax on big tech and impose a fee on single-use delivery packaging. Energy Investment: Arevon secured $120 million in tax-equity financing for its Big Muddy solar project in southern Illinois, while a separate federal announcement outlined $5 billion for nuclear fleet modernization. Trade: A Livingston survey found 84% of U.S. importers plan to source from outside North America, and 62% are passing at least some tariff costs to customers. Local Business: Kankakee coffee shops are opening amid expectations that a planned Mattel water park and nearby sports complex will draw more visitors and businesses.

Chicago Budget Fight: Mayor Brandon Johnson’s $17.6 billion budget includes a proposed $25 monthly tax on large businesses, higher tech-lease taxes and $480 million in borrowing. Mayoral challenger Susana Mendoza says City Hall should partner with businesses, not treat them as a “piggy bank.” Jobs: Illinois ranked 33rd nationally in a state job-market analysis, including 47th for job openings and unemployment. Energy Investment: A federal financing package could support nuclear upgrades at Constellation and Alliant, including work at Byron, while Wells Fargo committed $120 million in tax equity to Arevon’s Big Muddy solar project in southern Illinois. Small-Business Rules: Illinois joined a 20-state lawsuit seeking to restore broader federal corporate-ownership reporting requirements, arguing the data helps states enforce tax and consumer-protection laws. Household Finances: Illinois is among 11 states that don’t allow 529 savings to cover K-12 expenses under state rules, despite broader federal approval.

Chicago Budget: Mayor Brandon Johnson’s proposed 2027 budget would add a $25 monthly corporate tax, raise the personal-property lease tax on big tech firms and charge 15 cents on single-use delivery packaging, as aldermen question the city’s reliance on taxes and borrowing. School Finances: Evanston District 65 parents say they found a $17 million budget error, but officials say the money is restricted and plans to close two schools remain. Downstate Investment: Illinois secured $34.9 million in federal funding for a Southern Illinois fertilizer plant expansion. Transit Innovation: Metra plans to put battery-powered trains on 16.4 miles of track in 2028, offering a new model for cleaner commuter rail. Gaming: Illinois sportsbooks reported $1.03 billion in August wagers.

Nuclear Investment: The Energy Department offered Constellation up to $5 billion for upgrades at eight nuclear plants, including Byron, Dresden and other Illinois sites. The work could add nearly 1.1 gigawatts of capacity. Southern Illinois Manufacturing: A $34.9 million federal grant will help fund a nearly $70 million expansion of a fertilizer plant in Marissa, aimed at boosting domestic supply and supporting agriculture. Consumer Protection: Illinois joined the FTC and 20 states in suing Dollar General, alleging customers were routinely charged more at checkout than advertised prices. Energy Costs: Connecting data centers to the grid could cost ComEd an estimated $3.1 billion, raising questions about who will pay for the infrastructure. Chicago Business Climate: City budget hearings are testing Mayor Brandon Johnson’s proposed taxes, including a corporate head tax, as business leaders warn of added costs. Local Growth: Whole Foods signed a lease for a smaller-format Logan Square store, while Hyundai Translead expanded its planned investment and hiring commitment at its Joliet operation.

Corporate Results: Glenview-based Illinois Tool Works reported 4% revenue growth in the third quarter, expanded margins and raised its full-year earnings outlook. Chicago credit bureau TransUnion posted $1.31 billion in quarterly revenue and earnings above analyst expectations. Investment & Innovation: Hyundai Translead expanded its planned Joliet manufacturing investment and hiring commitment. Separately, NANO Nuclear and Hyundai Engineering agreed to explore project support for a proposed microreactor at the University of Illinois Urbana-Champaign. Chicago Budget: City Council hearings opened amid an $882 million projected shortfall, with aldermen questioning Mayor Brandon Johnson’s plan and a proposed corporate head tax. Consumer Protection: Illinois joined 19 other states and the FTC in suing Dollar General, alleging deceptive pricing that charged shoppers more at checkout than advertised.

Chicago Budget: Mayor Brandon Johnson’s proposed 2027 budget would add taxes on employers, cloud computing and software, among other levies, as the city confronts an $882 million shortfall. Business groups warn the measures could raise costs for companies and customers; aldermen are questioning whether the plan balances. Data Center Costs: Connecting data centers to the grid could cost ComEd an estimated $3.1 billion, renewing concern that Illinois households could ultimately bear part of the bill. Consumer Protection: Illinois joined the FTC and 19 states in suing Dollar General, alleging stores repeatedly charged shoppers more at checkout than advertised prices despite years of complaints. Joliet Jobs: Hyundai Translead expanded its planned Illinois manufacturing operation to 3,750 jobs, a major boost for the former Caterpillar site and the region’s industrial base. Retail Technology: Amazon has begun drone deliveries from Markham to nearby south suburbs, testing a faster, lower-cost delivery model as some residents raise noise and safety concerns.

Banking: Bloomington-based HBT Financial reported third-quarter net income of $31.4 million, up from $19.8 million a year earlier, as its net interest margin climbed to 4.35%. Chicago Budget: Mayor Brandon Johnson’s 2027 proposal faces an $882.4 million gap and revives a corporate head tax; business leaders warn higher costs could weigh on employers. Manufacturing: Hyundai Translead plans a $600 million expansion in Will County, including a commitment to create 3,750 jobs at the former Lion Electric site. Infrastructure: A $25.1 million federal grant will help rebuild the southern Illinois rail line between Evansville and Okawville; the Tollway has also opened the first I-490 connection to I-294. Energy Costs: Consumer groups warn that data center demand could add billions in costs for ComEd, raising concerns that Illinois households may end up paying. Air Travel: Chicago-based United reported 17% third-quarter revenue growth and launched nonstop service between Shreveport and O’Hare.

Manufacturing Jobs: Hyundai Translead is expanding its Joliet operations, lifting its planned Illinois investment to $600 million and promising 3,750 jobs in Will County. Chicago Budget: Mayor Brandon Johnson’s 2027 proposal faces an $882.4 million gap and calls for $427 million in new taxes and fees; business leaders are pushing back against a revived corporate head tax. Data Centers & Power: Illinois’ data-center buildout could cost ComEd $3 billion, while consumer groups warn households could end up footing part of the bill. Local Commerce: Chicago has unveiled a plan for year-round public markets, creating new opportunities for vendors and shoppers. Transportation: A $25.1 million federal grant will fund Southern Illinois railroad improvements.

Farm Relief: The USDA announced $8 billion in payments to farmers to offset modeled 2026 crop losses amid market disruptions and higher input costs. Transportation: The Illinois Tollway opened the first I-490 connection to the Tri-State Tollway, advancing a major suburban road project. Chicago Budget: Mayor Brandon Johnson’s proposed $17.6 billion budget would raise taxes and fees, including a corporate head tax; business groups and small-business owners warn the levies could add to rising costs. Manufacturing: Thousands of jobs are expected at a Chicago-area manufacturing site, alongside a new training academy. Corporate Moves: Abbott plans to spin off its nutrition business after years of turmoil, and cut its financial outlook as it prepares the separation.

Agriculture: The Illinois Crop Improvement Association completed an 11,380-square-foot laboratory and greenhouse expansion, nearly doubling its facility as it broadens seed testing. Separately, bird flu wiped out 934,600 hens at a Clinton County egg farm, threatening to tighten supplies. Manufacturing: A Marissa fertilizer plant will receive $34.9 million in federal funding, while Hyundai Translead has raised its Illinois investment to $600 million and plans to add jobs. Infrastructure: The Illinois Tollway opened the first I-490 interchange connection to I-294; a separate $25.1 million federal grant will fund Southern Illinois rail improvements. Chicago Business: Mayor Brandon Johnson’s budget revives a corporate head tax, drawing pushback from business groups concerned about added costs. Energy: Consumer advocates warn ComEd data-center costs could shift billions onto Illinois households, even as regulators cut Nicor’s requested gas-rate increase. Markets: Strong export demand, including renewed Chinese buying, helped support Chicago soybean prices, while the advancing harvest weighed on corn.

Data Center Costs: ComEd expects to spend $3.1 billion connecting data centers to its grid, prompting a watchdog warning that customers could shoulder the bill. The utility says approved agreements protect ratepayers by making large users cover their costs. Retail Recovery: The Magnificent Mile’s vacancy rate has fallen to 25.8% from 33.8% last year, as new stores and more than $250 million in landlord investment point to a possible revival. Jobs and Investment: Hyundai Translead plans to invest $600 million in Will County and create 3,750 jobs, expanding a major manufacturing commitment. Chicago Taxes: Mayor Brandon Johnson’s proposed $414 million in higher taxes and fees faces resistance from business leaders, particularly over a revived corporate head tax. Regional Infrastructure: A $25.1 million federal grant will fund Southern Illinois railroad improvements.

Energy Costs: An operational problem at ExxonMobil’s Joliet refinery sent Midwest wholesale gasoline prices higher. Illinois averaged $4.81 a gallon Friday, up 15 cents in a day, with low regional inventories adding pressure. Chicago Taxes: Mayor Brandon Johnson’s budget revives a corporate head tax, drawing pushback from business leaders and aldermen over added costs. Jobs & Investment: Hyundai Translead plans a $600 million expansion in Will County, backed by state incentives and a commitment to create 3,750 manufacturing jobs. Banking: FHLBank Chicago reported third-quarter net income of $145 million, down from $185 million a year earlier, while assets rose to $151.6 billion. Utility Bills: Illinois regulators cut Nicor Gas’s requested rate increase by 63%; separately, consumer groups warn ComEd’s estimated $3 billion in data-center costs could land on households.