ILLINOIS — Despite narratives claiming that lawsuits are pushing companies out of state, new data confirms what many local leaders already know: Illinois is one of the strongest states in the nation for doing business.
According to a new fact sheet from the Illinois Trial Lawyers Association (ITLA), the state’s economic growth has been fueled by a combination of corporate expansion, affordable business costs, and a skilled workforce — all while upholding fair legal protections for injured residents.
Illinois Holds Its Position as a Business Leader
Illinois ranked 2nd nationally in 2024 for corporate expansion and relocation projects per capita, according to Site Selection Magazine. The Chicago metro area was named the country’s top metropolitan market for new and expanded corporate facilities for the 12th year in a row.
Additionally, 32 Illinois-based companies appeared on the 2024 Fortune 500 list, placing Illinois just behind three other states nationwide.
Major Illinois-headquartered companies include:
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Archer Daniels Midland – $3.48B profit (Chicago)
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Caterpillar – $10.34B profit (Deerfield)
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Deere & Co. – $10.17B profit (Moline)
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AbbVie – $4.86B profit (North Chicago)
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United Airlines Holdings – $2.62B profit (Chicago)
Business Costs Lower Than National Average
Contrary to criticism from corporate lobbyists, business costs in Illinois are lower than national averages and have been trending downward over the past few decades, particularly when compared to high-cost states like California and New York.
A 2023 state forecast confirms that Cook, DuPage, Kane, and Will counties all rank among the nation’s Top 20 counties for economic development, making Illinois the only state with four neighboring counties on that list.
Accountability and Growth Can Coexist
Groups often blame lawsuits and workers’ compensation claims for deterring business, but ITLA argues those claims are misleading. The fact sheet affirms that:
“Illinois is a place where somebody injured by a defective consumer product may go to court and know they have a fair chance to win just compensation.”
Rather than driving businesses away, these legal protections offer security to consumers and workers, making Illinois more trustworthy for both residents and responsible businesses.
A State That Balances Rights and Revenue
As of 2024, Illinois surpassed $1 trillion in GDP, supported by a blend of legal fairness, business competitiveness, and infrastructure strength.
The ITLA emphasizes that protecting the rights of injured citizens doesn’t come at the expense of business opportunity — and in fact, helps sustain a healthier business environment long term.
Do you believe Illinois offers the right balance between business and fairness? Join the conversation and explore more civic insights at ChicagoSuburbanFamily.com.
