Chicago’s roster of Fortune 500 headquarters has been shrinking according to Illinoispolicy.org.

“Chicago’s updated tally of Fortune 500 companies is shrinking thanks to departures from Citadel, Boeing and Caterpillar to other states.Chicago has 35 Fortune 500 Headquarters after losing three in 2022, still the second most in the nation to New York,” according to the article. 

“The list could grow if McDonald’s Corp. decides to find a new home for their corporate headquarters. CEO Chris Kempczinski in a recent speech said staying in Chicago is far from a sure thing.”

“It has become increasingly difficult to operate a global business out of the city of Chicago,” Kempczinski said. “Make no mistake… McDonald’s commitment to Chicago is not corporate altruism. It’s not open-ended. It’s not unconditional. As a publicly traded company, our shareholders wouldn’t tolerate that.”

Some say the reason the business climate may erode further is because of Amendment 1, which is on the ballot in November. A collective bargaining measure, critics say that it will result in higher taxes.