Illinois Resources Page

2022 Top States for Doing Business Provide an Environment for Business Growth

Steve Kaelble, Staff Editor, Area Development

The "Top States" report looks at some of the places ripe for successfully growing and doing business based on the views of our expert panel of consultants.

The Wabash Valley Power Alliance: Helping Businesses Grow

Lisa A. Bastian

By offering affordable, reliable power and working with its community partners, this alliance of electric cooperatives is drawing businesses to its Midwest service territory.

Where to Invest in the Booming Aerospace Manufacturing Industry

Scott Thompson, Global Aerospace & Defense Leader, PwC

The U.S. remains top-ranked globally for aerospace attractiveness, but companies must consider labor, infrastructure, and tax policy among other factors when deciding where to locate their next U.S. facility.

2018 Leading Metro Locations: Pacific and Mountain Metros Dominate the List

Area Development Research Desk
Karen Thuermer, Staff Editor, Area Development

The 2018 Leading Metro Locations reflect the nation’s overall economic growth as the country enjoys the second-longest economic expansion on record, with many small and mid-size metros exhibiting economic strength.

2018 Gold & Silver Shovel Awards: California, Florida, Illinois and New York Awarded Silver Shovels - States with Populations over 12 Million

Geraldine Gambale, Editor, Area Development Magazine
Steve Kaelble, Staff Editor, Area Development

2018 Gold & Silver Shovel Awards Recognize States’ Efforts to Attract High-Value Investment & Large Job-Creating Projects

Geraldine Gambale, Editor, Area Development Magazine
Steve Kaelble, Staff Editor, Area Development

More than 200 projects across multiple states brought with them the promise -- in total -- of thousands of jobs and billions of dollars in investment.

The Select Few Metros Where Wages Are Really Growing

Joshua Wright, VP, Economic and Workforce Development, Emsi

A recent analysis from Emsi suggests that the labor market might not be as tight as the data shows — or at least not tight enough for businesses in aggregate to significantly drive up wages.

2017 Gold & Silver Shovel Awards Recognize States Compiling Healthy Rosters of New and Expanded Facilities

Geraldine Gambale, Editor, Area Development Magazine
Steve Kaelble, Staff Editor, Area Development

The work of economic development is a complicated mix of salesmanship, customer service, technical and legal expertise, communications, relationship-building, and a healthy dose of good fortune.

Regional Report: Midwest Economy Buffeted by the Winds of Change

Steve Kaelble, Staff Editor, Area Development

There have been ups and downs in the world of Midwest auto manufacturing, but the region has also shown growth in the technology, agribusiness, and logistics/distribution sectors.

Location Strategies in the War for Millennial Talent

Michael McDermott, Consulting Manager, Global Business Consulting, Cushman & Wakefield
Erica Bubes Ruder, Manager, Strategic Consulting, Cushman & Wakefield

When it comes to attracting tech-savvy millennials, companies are giving a fresh look to metro areas and downtowns that will give them a competitive edge.

The Reasons Corporate Headquarters are Heading Back Downtown

Dale D. Buss, Staff Editor, Area Development

In order to lure tech-savvy millennials, many companies that years ago moved out to the suburbs are heading back to the urban downtowns that offer the lifestyle this generation of employees desires. And the trend isn't confined to just North America’s biggest cities.

2016 Top States for Doing Business Commentary: Top-Performing States Place Significant Emphasis on Economic Development

Andy Mace, Managing Director, Global Business Consulting , Cushman & Wakefield Business Consulting

The top-performing states continually compete against one another to attract business and challenge each other to maintain or improve capabilities.

Cloud Adoption Multiplying Data Center Demand

Geraldine Gambale, Editor, Area Development Magazine

The rising reliance on digital content and data sovereignty laws are driving demand for data center space.

2016 Gold & Silver Shovel Awards Recognize States That Have Garnered High-Impact Economic Development Projects

Geraldine Gambale, Editor, Area Development Magazine
Mark Crawford, Staff Editor, Area Development

The states receiving this year’s Shovel Awards are being recognized for their large numbers of high-impact economic development projects, including $1 billion+ deals with thousands of new jobs. Six states — California, Ohio, Tennessee, South Carolina, Nevada and Utah — are being awarded Gold Shovels in recognition of projects undertaken in 2015.

U.S. Legislative, Incentives, & Economic Development Policies Update

Jason Hickey, President, Hickey & Associates, LLC

Growing companies need to be aware of the many changes states are making to their incentives policies.

Project Announcements

Nexamp Establishes Chicago, Illinois, National Headquarters

01/23/2024

Germany-Based Wieland Group Expands East Alton, Illinois, Operations

01/19/2024

Maui Jim Expands Peoria, Illinois, Operations

11/06/2023

Incobrasa Industries Expands Gilman, Illinois, Manufacturing Operations

09/20/2023

UPSIDE Foods Establishes Glenview, Illinois, Production Complex

09/15/2023

All News Items 

Tips: Send Us Business Expansion or Relocation News

ILLINOIS at a glance

POPULATION: 12,882,135 (2013)

LABOR FORCE: 6,554,200 (2013 annual average)

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 places, machinery & chemical manufacturing

COLLEGE GRADUATES: (Age 25 and over) 32.2% (2013)

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 25 percent for commercial/industrial property and 10 percent for residential property)

BUSINESS INCENTIVES:
Economic Development for a Growing Economy (EDGE) Program

Employer Training Investment Program (ETIP)

Large Business Development Program

Business Development Public Infrastructure Program

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)

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

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

15.7%
Machinery

13.8%
Food

13.2%
Chemicals

7.7%
Plastics and Rubber Products

6.8%
Motor vehicles, bodies and trailers, and parts

5.9%
Computer and Electronic Products

5.5%
Other Manufacturing Industries

31.3%

Source: Bureau of Economic Analysis