30. Illinois

The economy in the Land of Lincoln still has far to go to, but business capital keeps rolling in.

Illinois grunge wood background with Illinoisan State flag painted on aged wooden wall.
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Illinois grunge wood background with Illinoisan State flag painted on aged wooden wall.
Category
Score
2019 Rank
2018 Rank
Grade
Workforce 283 12 25 B-
Economy 111 45 42 F
Infrastructure 197 16 22 B
Cost of Doing Business 163 34 29 C+
Quality of Life 152 33 30 D+
Education 80 33 17 D+
Technology & Innovation 119 11 12 B+
Business Friendliness 55 40 47 D
Access to Capital 66 5 4 A
Cost of Living 29 22 25 C+
Overall 1255 30 28 -

Economic Profile

Governor: J.B. Pritzker, Democrat

Population: 12,741,080

GDP growth (Q4 2018): 1.3%

Unemployment rate (May 2019): 4.4%

Top corporate tax rate: 9.5%

Top individual income tax rate: 4.95%

Gasoline tax: 36.87 cents/gallon

Bond rating (Moody's/S&P): Baa3, stable/BBB-, stable

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 (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence