economy

The economy of Illinois, as of April 9, 2025, reflects a mix of strengths and challenges, particularly in relation to jobs and small businesses.

illinois economy

The economy of IL is a blend of tax and regulatory issues within the larger frame of reference of revenue generation by the private sector. The private sector runs on after tax funds. Every cost of government impacts the capacity of the private sector to produce goods or services, hire and employ staff and run daily operations.  As the data suggests, IL is underforming the national economy.

Key takeaway: This is what a an economy looks like when a state tax burden exceeds what the private sector can effectively manage.

Jobs and businesses prosper when state and local economic conditions allow enterprises to grow, expand and fulfill their potential.  Families are adversely impacted when the local economy falters.

Key takeaway: When businesses are reduced to “running in place” to maintain operations, versus growth and expansion, it generates mediocre results and limited job opportunities.



IL economy, especially Chicago, has not benefited the Black community.

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