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February 2, 2014

New Study Ranks Illinois 3rd Best in Business Growth

CHICAGO - Governor Pat Quinn today announced an independent study has identified Illinois as having one of the most thriving private sectors in the nation. The report provides further evidence that the state is recovering steadily from the worst economic hardship since the Great Depression.

“We know that more jobs are needed and we are working to get them, but this report shows that our economy is getting stronger every day,” Governor Quinn said. “We wouldn’t see this business growth without our skilled work force, our great advantages in location and our culture of innovation.”

The study by CareerBuilder and Economic Modeling Specialists Intl. found that Illinois ranks 3rd among the 50 states in growth of business establishments. According to the study, total establishments in Illinois rose by 18,000, or 5 percent, to 383,103, from 2009 to 2012.

The study found that for the three-year period through 2012, Illinois accounted for 14 percent of all net new business establishments in the country.

A copy of the report can be found at economicmodeling.com.

In his 2014 State of the State address, Governor Quinn laid out a five-year blueprint for jobs and economic growth in Illinois. The Governor's blueprint calls for three key things: creating more jobs, making early childhood education a top priority and building an economy that works for everyone.

Since recovery from the recession began in January 2010, Illinois has added 280,000 private sector jobs. Unemployment was at 11.3 percent at the height of the Great Recession and today it is at its lowest point in almost five years. Since last May, Illinois has led the Midwest in new jobs created. According to the Philadelphia Federal Reserve Bank, in the next six months Illinois is projected to have the best economic growth of the five largest states in America.


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