Illinois is a noted bellwether of the United States—it’s been a predictor of trends, and is home to a diverse economy and peoples.
With the powerhouse of Chicago, strong agricultural business, tons of natural resources and positioned as a transportation hub, Illinois has many things working in its favor and would be a fantastic place to open a franchise.
Chicago is the heart of Illinois: home to nearly 2.7 million people (and 9.5 million in the metropolitan area), the busiest airport in the world and eight major sports franchises. There is opportunity here that rivals New York City, and you could easily make this the home of your franchise, as well.
If Chicago doesn’t appeal to you, consider looking at Aurora, Joliet, Rockford, Springfield or Peoria.
Taxes in the Land of Lincoln
Illinois has a 7 percent flat corporate income tax, along with flat rate personal income tax of 3.75 percent, a personal property replacement tax (2.5 percent for traditional corporations, 1.5 percent for others), and an annual franchise tax.
Illinois by the Numbers
There are 1.2 million small businesses in Illinois, which make up 98.3 percent of all employers.
Illinois has a GDP of $609.6 billion and an unemployment rate of 6.2 percent.