The nonpartisan American Economic Development Institute has released its yearly list of best and worst states in which to do business, ranking Illinois as the 49th worst out of 50 states.
The study examines 32 factors related to the states’ efforts to be “pro-business,” considering issues such as tax rates, workers’ compensation, and burden of litigation matters. Illinois scored dismally in many of these areas, receiving a failing “grade” in matters such as the unemployment rate, workers’ compensation, corporate tax index, property taxes and the state’s regulatory and litigation environment.
One notable area for improvement in the state of Illinois is the “marketing/website response to new and existing employers” in which the state received an “F.” Also concerning in a state known for its diverse transportation infrastructure, Illinois received a “D” in this area.
Illinois did score a “B” on matters such as average teacher compensation, cost of energy and college-completion rates. The state also excelled in the area of funding per college student, earning an “A” in that area.
Though sparsely populated states such as Utah, Wyoming, and Nebraska register as the top three pro-business states, neighboring Indiana and Missouri were ranked in the top ten by the study as the seventh and eighth, respectively, most pro-business states. Indiana has been proactively encouraging Illinois employers to “jump ship,” having launched an advertising campaign specifically to lure businesses out of the Land of Lincoln and into the Hoosier State.