POPULATION: 12,901,563 (2008)
LABOR FORCE: 6,744,424 (July 2009)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Agriculture, heavy industry
EXPANDING INDUSTRIES: Rail transportation, machinery manufacturing, professional and technical services, heavy construction, information services
COLLEGE GRADUATES: (Age 25 and over) 28.9% (2006)
BASIC BUSINESS TAXES:
Corporate Income Tax: 4.8 percent on net income apportioned
to Illinois, plus an additional 2.5 percent for corporate personal property replacement
Sales Tax: State rate of 6.25 percent on retail purchases of tangible personal property plus an optional additional tax ranging from 0.0–4.0 percent in local
jurisdictions
Property Tax: Real property only is taxed and is assessed at 33.3
percent of fair market value; statewide average property tax rate is 7.3 percent (exception: Cook County property is assessed at 38 percent for commercial property, 36 percent for industrial property, and 16 percent for residential property)
BUSINESS INCENTIVES:
Economic Development for a Growing Economy (EDGE) Program
Employer Training Investment Program (ETIP)
Large Business Development Program
Entrepreneurship Center Network
Participation Loan Program
Minority, Women and Disability Participation Loan Program
Development Corporation Participation Program
Illinois Capital Access Program
Business Development Public Infrastructure Program
Enterprise Zone Participation Loan Program
Enterprise Zone Program (tax abatement)
High Impact Business Program
Tax Increment Financing Program
Community Development Assistance Program
Community Services Block Grant Loan Program
Foreign-trade zones
Economic Development Program (Illinois Dept. of Transportation)
State Treasurer’s Employ Illinois Program
Employer Assisted Housing Program
Illinois Finance Authority Assistance
Renewable Fuels Development Program
Manufacturing Energy Efficiency Program (MEEP)
Small Business $mart Energy Program (SB$E)
Revolving Line of Credit Program
River Edge Development Initiative
