24. Illinois

Capital is almost as abundant as prairie grass in the Land of Lincoln. But freedom from regulation is sparse.

Top States Illinois
Source: George Kavallines
Category
Score
2016 Rank
2015 Rank
Workforce 236 16 (Tie) 23
Cost of Doing Business 192 24 (Tie) 29
Infrastructure 200 16 (Tie) 12 (Tie)
Economy 153 34 (Tie) 41
Quality of Life 144 35 26
Technology & Innovation 174 11 9
Education 137 4 12
Business Friendliness 23 48 45 (Tie)
Cost of Living 26 34 22
Access to Capital 50 1 3
Overall 1335 24 19

Economic Profile

Governor: Bruce Rauner, Republican

Population: 12,859,995

GDP growth: 2.3 percent

Unemployment rate (May 2016): 6.4 percent

Top corporate tax rate: 7.75 percent

Top individual income tax rate: 3.75 percent

Gasoline tax: 49.48 cents/gallon

Bond rating/outlook: Baa2, negative (changed since release)

Major private employers: Sears Holding Corp., McDonald's Corp.

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, S&P Global Market Intelligence

Latest Special Reports

  • Shoppers walk inside the Westfield Santa Anita mall during the outbreak of the coronavirus disease (COVID-19), in Arcadia, California, June 25, 2020.

    Coverage of the world's largest retail trade organization's annual conference.

  • Innovative female entrepreneur examining prototype

    In an era of rapid technological advances and demographic change, how do legacy companies adapt, innovate and evolve? CNBC Evolve features iconic global companies and executives who are embracing change and transforming for the future.

  • The personal and economic pain from the COVID-19 pandemic is being felt all over the world. As a result of this unprecedented disruption, businesses owners and employees are dealing with an immeasurable level of suffering and facing scenarios they never could have imagined. Through expert analysis and advice from proven business leaders, The Path Forward explores the extraordinary challenges businesses are facing and offers ideas to help owners navigate this global crisis and thrive once again.