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

Pure Lithium is moving to Chicago. The next-generation battery technology company will relocate its entire operation from Boston to Fulton Market. Its $46 million investment will enable the company to manufacture the first commercially viable lithium metal battery here in Illinois. With that product, the Pure Lithium plans to target the drone and defense, consumer electronics, grid-scale energy storage systems and electric vehicle markets. The company says it’ll hire up to 50 new employees over the next four years. Illinois is providing $4.4 million in payroll tax credits through the Reimagining Energy & Vehicles program.

Also, Hanig’s Footwear is leaving the Magnificent Mile. Listen for more below: