The Data Show That Illinois Has a Competitive Business Climate

A new report released today by the Illinois Economic Policy Institute (ILEPI) finds that high corporate taxes are not deterring businesses from locating and operating in Illinois. In fact, the data shows that corporations locate in Illinois at a higher frequency than in neighboring states.

In 2013, Illinois was rated as having the 29th-best tax climate in nation in the State Business Tax Climate Index– behind Indiana (11th), Missouri (16th), and Kentucky (24th). The combined state and local corporate tax rate was 9.5% in that year.

However, despite claims that Illinois was “bad for business,” economic data report that Illinois fared well against its neighbors in 2013.

Compared to Indiana, Iowa, Kentucky, Missouri, and Wisconsin – Illinois had:

  1. A relatively high number of workplaces per capita (30.9 per 1,000 residents);
  2. More corporations and S-corporations per capita;
  3. More Fortune 1000 companies per capita;
  4. Higher household incomes and higher levels of compensation per employee; and
  5. A better-educated and more-skilled workforce.

Bad for Business Blog

Claims that Illinois’ business environment is falling behind neighboring states are refuted by the actual actions of corporations and companies. Illinois attracts companies – both large and small – to locate and operate within the state. The state is competitive with Indiana, Iowa, Kentucky, Missouri, and Wisconsin, and offers a higher-skilled and better-paid workforce than neighboring states.

Ultimately, Illinois remains a great place to do business.

For more, read the full report here.

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