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Illinois

A guide to help you understand the ins and outs of business in Illinois

Overview

Illinois is located in the Midwest, sharing some of its northeast border with Lake Michigan. Illinois' capital is Springfield and its largest city is Chicago, which has Chicago O'Hare International Airport, a destination for Qatar Airways for both passengers and cargo. It is only the 25th largest state in land mass but maintains the sixth largest population at an estimated 12.71 million people. Illinois' gross domestic product has surpassed $1,200,000,000,000.

Illinois' top industries are professional and business services, real estate, rental, and leasing, and manufacturing, while the state actively targets growth in agribusiness, transportation, life sciences, and energy. Illinois is home to 29 of the Fortune 500 companies, as well as 14 of the Global 500 companies. There are also over 5,600 foreign-owned company locations established across the state.

Qatar has a number of investments and partnerships in Illinois. Al Rayyan Tourism Investment Company (ARTIC) has one of its five US hotels in its portfolio located in Chicago: the Radisson Blu Aqua Hotel Chicago. Also, Northwestern University has a branch campus in Education City in Doha.

Illinois levies a total flat corporate tax rate of 9.5%, which reflects a 7% base income tax enacted after July 1, 2017, plus a 2.5% personal property replacement tax. The state maintains its network of foreign-trade zones, which includes designated zones serving major hubs like Chicago, Granite City, Peoria, Rock Island, Evansville, and Rockford. State support includes comprehensive incentive portfolios, featuring legacy programs like the Underground Storage Tank Fund, the 501(c)(3) Lease Program, the Young Farmer Guarantee Program, and the State Revolving Fund.

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