Insights

The Illinois economy is showing continued strength as the new data reveals that jobs increased year-over-year in all of the state’s 14 metropolitan areas in December. Furthermore, the unemployment rate decreased in 13 of those areas, indicating steady and consistent job growth throughout the state, according to the data from the U.S. Bureau of Labor Statistics (BLS) and the Illinois Department of Employment Security (IDES).

Illinois is made up of a diverse network of communities, each with their own assets that attract businesses and drive growth. Throughout the state, these communities are embracing collaboration, finding that working together to promote their regions can significantly boost economic development. Companies making location decisions do not see boundaries between jurisdictions. When a business locates in one community, it positively impacts the entire surrounding region.

The start of a new year often brings new opportunities for business growth. One of these opportunities that can significantly impact businesses is the decision to expand or relocate. The complex process requires careful consideration of financial feasibility, market demand, availability of resources and talent, and the potential impact on current operations. As business leaders map out their plans for the year ahead, they are carefully evaluating these and other factors to make informed decisions and navigate any challenges ahead with confidence.

Illinois is ranked one of the top states in the country to raise a family, beating out Texas, California, Florida, Ohio, and Indiana based on factors including jobs, affordability, education, recreation, and more, according to a study released this week.

Illinois’ manufacturing sector is poised for strong growth despite an uncertain economic outlook as companies invest in the workforce and technology that is revolutionizing the nature of factory work, according to a recent industry roundtable hosted by the Illinois Manufacturing Excellence Center (IMEC) and Crain’s Content Studio.

This was a strong year for businesses in Illinois. Here are a few stories from this year that show why more companies are deciding to Be in Illinois.

Powerful trends like the continued rise of e-commerce and strained global supply chains underscore the need for innovation in the critical transportation, distribution, and logistics industry. Meanwhile, cutting-edge technology from software connection platforms to blockchain to drones is transforming how goods flow around the world and creating opportunity for early movers.

When it comes to fighting climate change, Illinois is leading the way with one of the most ambitious plans in the country to reach 100% clean energy, while also laying the foundation for like-minded companies to thrive. The state’s legacy in manufacturing, combined with its booming market for solar installations, forward-thinking policies, unbeatable infrastructure, and highly skilled workforce offers solar manufacturers and suppliers exceptional opportunities for growth.

Crain’s recent editorial assessing Illinois’ business competitiveness acknowledged many of the state’s leading attributes, including elite universities churning out a well-trained workforce; world-class cultural amenities in an affordable setting; and its location at the center of infrastructure that efficiently moves people and products. In response, Dan Seals, the head of Intersect Illinois, sheds more light on the great things happening in the state.