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Illinois
Resources Page
Clean Energy, Green EconomyRenewable energy stands poised to create opportunities across the country. More |
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Illinois: Traditional and Green Manufacturing Help Prepare for the TurnaroundAlternative energy investments are part of Illinois' long-term plans for economic recovery and new jobs. More |
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The New Railroad ResurgenceCertified megasites are quickly becoming the new standard for large expansions and relocations. What factors qualify a location as a megasite? More |
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Fueling Change in Intermodal TransportationThe high cost of fuel is leading to fundamental changes in intermodal transportation, putting more emphasis on water and rail. And that’s driving the creation of more intermodal facilities More |
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State Contacts
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Illinois
At A Glance
POPULATION:
12,852,548 (2007)
Corporate Income Tax: 4.8 percent on net income apportioned to Illinois, plus an additional 2.5 percent for corporate personal property replacement
LABOR FORCE: 6,853,163 (July 2008)
RIGHT TO WORK: NoTRADITIONAL INDUSTRIES: Agriculture, heavy industry
EXPANDING INDUSTRIES: Rail transportation; motor vehicle body, trailer, and parts manufacturing; information and data processing services; computer and electronic product manufacturing; machinery manufacturingCOLLEGE 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
Day Care Initiative 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
SPONSOR PROFILES:
