Get the Facts on Illinois
|FAQ: How do Illinois' taxes compare with other states?
|Illinois Has Some of the Lowest Taxes in the Midwest - According to Anderson Economic Group, the total tax|
burden in Illinois is better than the national average and among the best in the Midwest.
|FAQ: Are companies expanding in Illinois or contracting?|
|Illinois is 5th in the U.S. in Corporate Expansions – According to Site Selection magazine, Illinois was in the Top 5|
in the nation in the number of new and expanded corporate facilities. Illinois' Net Employment Gain is Positive:
- Illinois attracted 275 businesses and 7,957 employees
- Illinois lost 283 business but only 6,542 employees
- NET FOR THE YEAR: Illinois lost 8 businesses but gained 1,415 employees
|FAQ: How do Illinois' expenses compare with other global locations?|
|Illinois has some of the most competitive rents in the nation and the world|
|Illinois has the Smallest Government spending per capita in the Midwest (Henry Kaiser Family Foundation)|
|FAQ: How favorable is Illinois favorable to start-up ventures?|
- Illinois is Top 10 in the Nation for Tech Companies and Start ups according to Startup Genome
|FAQ: How active is Illinois in Foreign Trade?|
ILLINOIS' EXPORTS HAVE GROWN FASTER THAN THE REST OF THE NATION
Illinois exports totaled $68.1 billion in 2012, $3.3 billion more than 2011 (4.8%). In 2011 Illinois
Exports totaled $64.8 billion, 14.8 billion more than 2010 (29.5% increase).
Source: WiserTrade (2013)
Illinois’ 2011 exports growth was nearly double that of the average U.S. export growth.
Source: Illinois Office of Trade & Investment
FAQ: Is the EDGE tax credit adding to the state's debt?
When a company wins an EDGE award no money changes hands.
The State is giving the company a tax credit they can apply to their tax bill in exchange for a job commitment. If they don’t make 100 percent of their job commitment,
they don’t get the EDGE tax credit. The state never allocates more tax dollars via EDGE than it takes in and 60 percent of EDGE credits go to companies with fewer than 1,000
FAQ: How does Illinois’ electricity rates compare with other states?