Deerfield-based Walgreen Co. plans to expand its operations in Illinois and create 500 jobs over the next three years.
In announcing the expansion Friday, Governor Pat Quinn and Walgreen said the agreement is part of the "Invest Illinois Initiative." It calls for Walgreen to invest $75 million to expand and renovate more than two dozen corporate offices in northern Illinois.
Quinn says the expansion will create good paying jobs, attract more investment and help fuel the state's economic recovery.
Under the terms of the deal, Walgreen will also be eligible for tax credits tied to retaining 1,500 existing jobs. Quinn's office says the state's targeted investment package is estimated at $47 million.
Walgreen currently employs more than 5,000 people at its Deerfield headquarters and surrounding offices.