Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Abbott Laboratories spinoff AbbVie will spend nearly $200 million to expand its manufacturing plant in North Chicago. The plan is to expand domestic drug production and this project is part of the company’s previously announced $10 billion U.S. Capital plan. AbbVie is hoping to lessen the impact of tariffs on pharmaceuticals. The North Chicago expansion will allow AbbVie to increase chemical synthesis capabilities for pharmaceutical ingredient manufacturing. Construction is set to begin this fall and the expansion should be fully operational in 2027. AbbVie employs more than 11,000 people across Illinois.

Also, Chicago’s ReloShare has been named one of the fastest-growing startups in the U.S. Listen for more below: