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Top Performing Airports in 2014 for Air Cargo and Industrial RE

Area Development Online Research Desk (Q2 2014)
Airports are increasingly focused on leveraging nearby commercial real estate assets and logistics corridors to position themselves as an essential link in the supply chain. In fact, some airports are now seeing more than 60 percent of their revenue derived from non-airline sources. More

Illinois Direct Financial Incentives 2014

Area Development Online Research Desk (Q1 2014)
Illinois' economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. More

Sustainability: The “Invisible Hand” Shapes Next-Generation Location Selection

Don Schjeldahl, Founder, Don Schjeldahl Group (Q1 2014)
Companies that view their location strategies through a “sustainability filter” are more likely to achieve competitive advantage and long-term stakeholder value. More

Regional Report: Slow But Steady Economic Climb for the Midwest

 (Directory 2014)
You’re not likely to find explosive growth in the Midwest, but the region’s economy is advancing at a healthy, steady pace with strategic plans to enhance investment in place. More

Critical Location Decision Factor #2: The Road to Profitability

Mark Crawford (Q4 / Fall 2013)
A well-connected location is essential for accessing suppliers and customers, as well as connecting to intermodal hubs leading to the global marketplace. This is the Ninth in a series of articles examining the top-10 site selection factors as decided by the respondents to AD's Q1 Corporate Executive Survey. More

Criteria for Selecting a High-Tech Cluster

Amber Schiada, Research Manager, Markets, Jones Lang LaSalle (Q4 / Fall 2013)
Companies locating in “tech-friendly” communities can find the foundation for their success, while also helping the local economy to grow — a win-win situation all around. More

Leading Locations for 2013: The Midwest MSAs

Area Development Magazine Special Presentation (August 2013)
According to the Federal Reserve Bank of Chicago, the Seventh District — which includes all of Iowa and most of Illinois, Indiana, Michigan, and Wisconsin — is 50 percent more concentrated in overall manufacturing than the nation. Food processing is a major industry as is automotive manufacturing (the region also produces 30 percent of the nation’s light vehicles) and specializes in construction and farm machinery, medical equipment, and steel products. More

Regional Review: Globalization Is Vital Part of Midwest States’ Economies

Mali R. Schantz-Feld (Location USA / April 2013)
States in the Midwest are taking an active part to build their own destiny. While manufacturing has always been a part of the region’s history,diversification has spurred growth in the tourism, business services, and finance sectors as well. More
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Studies/Research
News Items
 
Around The Web
 
Studies/Research

ILLINOIS at a glance

POPULATION: 12,869,257 (2011)

LABOR FORCE: 6,585,583 (Sept. 2012)

RIGHT TO WORK: No

TRADITIONAL INDUSTRIES:Agriculture, heavy industry, financial services

EXPANDING INDUSTRIES: Administrative and support services, transportation and warehousing, employment services, fabricated metal product manufacturing, high-tech, biotech, sustainable energy, hospitals, food services and drinking placesn

COLLEGE GRADUATES: (Age 25 and over) 30.3% (2006-2010)

BASIC BUSINESS TAXES:
Corporate Income Tax: 7.0 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 0.0-3.25 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

Business Development Public Infrastructure 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)

Employer Assisted Housing Program

Illinois Finance Authority assistance

Advantage Illinois Revolving Line of Credit Program

River Edge Development Initiative

Advantage Illinois Capital Access Program

Advantage Illinois Participation Loan Program

Advantage Illinois Collateral Support Program

Invest Illinois Venture Fund

State Treasurer's Business Invest Program

Illinois Angel Investment Credit Program

New Markets Development Program

Green manufacturing development

Renewable energy development

Smart energy design assistance

Recycling expansion and modernization

Alternative fuels development

Small Business Job Creation Tax Credit

Illinois Historic Preservation Tax Credit Program

Principal Manufacturing industries

  • Fabricated Metal Products
    16.1%
  • Machinery
    13.7%
  • Food
    13.3%
  • Chemicals
    7.9%
  • Plastics and Rubber Products
    6.9%
  • Transportation Equipment
    6.1%
  • Computer and Electronic Products
    6.0%
  • Printing & Related Support Activities
    5.3%
  • Other Manufacturing Industries
    24.7%