{"id":246696,"date":"2022-04-21T14:32:54","date_gmt":"2022-04-21T18:32:54","guid":{"rendered":"https:\/\/chiefexecutive.net\/?page_id=246696"},"modified":"2025-02-13T12:41:28","modified_gmt":"2025-02-13T17:41:28","slug":"illinois","status":"publish","type":"page","link":"https:\/\/chiefexecutive.net\/best-worst-states-business\/illinois\/","title":{"rendered":"Illinois"},"content":{"rendered":"\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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CEO Guide to Site Selection<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Illinois<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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EXPORTING THE PRAIRIE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Illinois announced 2023 was a record-breaking year of export sales with more than $78 billion in exports,
thanks in part to the state\u2019s trade and export promotion program. Convenient proximity to airports, rail lines and shipping ports helps companies move products to more than 200 countries. Top export markets include Canada, Mexico, Germany, China and Australia, and exports to Mexico have increased by 32 percent since 2019. The state\u2019s manufacturing sector is also growing. In
February, Heartland Community College in Normal cut the ribbon on its new state-of-the-art manufacturing
training academy to help meet the region\u2019s growing workforce needs.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\u201cIn the last five years,\nwe\u2019ve seen unprecedented\nresponse from companies\nthat are seeing the investment made in Illinois and\ndeciding that is the kind\nof ethos and vision they\nneed in the home of their\nnext business expansion\u2026.\nWe\u2019re continuing that work\nmore ambitiously than\never before, continuing\nto focus on a sustainable\neconomic future that leaves\nno Illinoisan behind.\u201d<\/div>\n\t\t\t\n\t\t\t\t\t\t
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JB Pritzker<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
Governor<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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TAXES<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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top corporate income tax<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t#<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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on the Tax\nFoundation\u2019s State Tax\nCompetitiveness Index<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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EDUCATION<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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of students graduated high school in 2019<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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of adults age 25 and older have a bachelor\u2019s degree or higher<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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UNEMPLOYMENT RATE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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RIGHT TO WORK STATE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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No<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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QUALITY OF LIFE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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POPULATION GROWTH<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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decrease between\n2020 and 2023\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\u201cThe support from the state will allow us to quickly bring\nour midsize SUV, R2, to market and provide even greater\nconsumer choice for EVs. Gov. Pritzker has always been a\nstrong advocate for providing economic opportunities\nfor Illinois residents and business owners alike.\u201d\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tRJ Scaringe<\/span>Founder and CEO, Rivian<\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\u201cThe choice to come to Chicago was an easy one.\nThere is arguably one active laboratory in America\nthat has produced a successful automotive battery\nchemistry, and it's here.\u201d \t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tSpencer Gore<\/span>CEO, Bedrock Materials<\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\u201cAs we sought a location for a second headquarters,\nIllinois was the natural choice because of our mutual\ninterest in seeing clean energy work for\u2014and do\nright by\u2014everyone.\u201d\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tZaid Ashai<\/span>CEO, Nexamp<\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tKEY INCENTIVES\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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EDGE (Economic Development for a Growing Economy): <\/strong>Offers annual corporate tax credits to qualifying businesses that support job creation, capital investment and improve the standard of living for all Illinois residents.<\/p>

Enterprise Zone Program: <\/strong>Offers state and local tax incentives, regulatory relief and improved governmental services to stimulate economic growth and neighborhood revitalization in economically depressed areas of the state.<\/p>

Employer Training Investment Program: <\/strong>Offers grants to reimburse new or expanding companies of up to 50 percent of the cost of training their employees.<\/p>

High Impact Business Program: <\/strong>For large-scale economic development projects located outside of eligible enterprise zone areas, Illinois offers a number of applicable tax incentives, such as sales tax exemption on building materials and utilities. To qualify, businesses must create at least 500 full-time jobs and make a minimum capital investment of $12 million or retain 1,500 jobs and invest $30 million.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tEDCs\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Illinois Department of Commerce and Economic Opportunity<\/strong>
illinois.gov\/dceo\/Pages\/default.aspx<\/p>

Intersect Illinois<\/strong>
intersectillinois.org<\/p>

World Business Chicago<\/strong>
worldbusinesschicago.com<\/p>

Together Chicago
<\/strong>togetherchicago.com\/economic-development<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tHIGHLIGHTED PROGRAM OR INITIATIVE\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Illinois\u2019 2024 Economic Growth Plan offers a five-year plan to guide the state\u2019s economic development priorities and programming. It features a roadmap to attract record-level investments, create jobs and support communities over the next five years. The plan has four main goals: promote high-growth sectors, advance business growth and retention, promote equitable growth and build out the new clean energy economy.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tBIG DEALS\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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  • Nexamp announced in January 2024 plans to invest $2 billion in the state and create more than 50 jobs.<\/li>
  • Wieland North America announced in January 2024 plans to invest an additional $500 in its East Alton facility.<\/li>
  • Primient announced in March 2024 a $400 million investment in new operations in Decatur.<\/li>
  • Battery technology company Bedrock Materials announced in May 2024 it will locate its R&D center in Chicago.<\/li>
  • Rivian announced in May 2024 a $1.5 billion investment and the creation of more than 550 full-time jobs in Central Illinois.<\/li>
  • EV component manufacturer Ymer Technology announced in August 2024 the opening of its new U.S. headquarters in Buffalo Grove.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    \n\t\t\t\t\t\t\n\t\t\t\t\t\t\tBIG COMPANIES\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t\t\t\t\t

    Thirty-two Fortune 500 companies headquartered in state, including:<\/p>

    • Abbott Laboratories<\/li>
    • AbbVie<\/li>
    • Allstate<\/li>
    • Archer Daniels Midland<\/li>
    • Deere<\/li>
    • Mondelez International<\/li>
    • State Farm Insurance<\/li>
    • United Airlines Holdings<\/li>
    • Walgreens Boots Alliance<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

      CEO Guide to Site Selection Illinois EXPORTING THE PRAIRIE Illinois announced 2023 was a record-breaking year of export sales with more than $78 billion in exports,thanks in part to the state\u2019s trade and export promotion program. Convenient proximity to airports, rail lines and shipping ports helps companies move products to more than 200 countries. Top […]<\/p>\n","protected":false},"author":965,"featured_media":0,"parent":59194,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-246696","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nIllinois<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/chiefexecutive.net\/best-worst-states-business\/illinois\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Illinois\" \/>\n<meta property=\"og:description\" content=\"CEO Guide to Site Selection Illinois EXPORTING THE PRAIRIE Illinois announced 2023 was a record-breaking year of export sales with more than $78 billion in exports,thanks in part to the state\u2019s trade and export promotion program. 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