Illinois is Good for Business
Groups trying to assist corporations and other wrongdoers in avoiding accountability when they wrongly injure or kill people claim falsely that lawsuits and high workers’ compensation premiums are driving business out of Illinois. The reality is Illinois remains a strong state for business.
- Illinois is headquarters to 32 of the nation’s largest companies on the 2024 Fortune 500 List.1
- Only three states have more Fortune 500 companies than Illinois 2
- For thirteen consecutive years (2013-2025) the Chicago area was named the country’s leading metro market for new and expanded corporate facilities and Illinois ranked number two in the nation for corporate expansion and relocation projects per capita.3
- According to Business Facilities’ 21st Annual Rankings, Illinois ranked number one in nuclear energy with top-ten wins in other categories including: Foreign Direct Investment (#5), Agribusiness (#5), Exports (#5), Wind Power (#5), AI Job Hubs (#6), Cybersecurity Talent (#7), Solar Power (#7), Film and Television (#8), AI Job Market (#9), and MedTech/Medical Devices (#10).4
- There were 257 Illinois-based companies on Inc. Magazine's annual list of fastest growing companies based off revenue growth over a three-year time period.5
- CNBC's 2025 Top States for Business rankings listed Illinois as the 13th best state for business - up 17 spots since 2019.6
Top 5 Illinois Businesses for 2024 7
| Company | Location | Fortune 500 Rank | 2024 Profit |
| State Farm | Bloomington | 36 | $5.29 billion |
| Archer Daniels Midland | Chicago | 50 | $1.8 billion |
| Allstate | Northbrook | 66 | $4.67 billion |
| United Airlines Holding | Chicago | 74 | $3.14 billion |
| Abbvie | North Chicago | 77 | $4.3 billion |
1 Fortune Magazine Fortune 500. https://fortune.com/ranking/fortune500/?utm_source=iterable&utm_medium=email-blast&utm_campaign=06022026_B2C_GLBL_Subscribers_Engagement_e2&utm_id=13718929&utm_content=17933849&Name=state+farm&statename=Illinois
2 Fortune Magazine Fortune 500. https://fortune.com/ranking/fortune500/
3 Site Selection Magazine, March 2026. https://siteselection.com/2025-top-metros-tier-1-chicagoland-takes-title-once-again/
4 Business Facilities’ 21st Annual Rankings: https://businessfacilities.com/2025-state-rankings-21st-annual-rankings-report
5 257 Illinois companies among fastest growing in the US. Here are the top 10. State Journal-Register; August 19, 2025. https://www.sj-r.com/story/business/2025/08/19/257-illinois-companies-land-on-inc-magazines-fastest-growing-list/85666035007/?utm_source=sjr-newsalert-strada&utm_medium=email&utm_campaign=newsalert&utm_term=hero&utm_content=nsjr-springfield-nletter01
6 CNBC Top States for Business: https://www.cnbc.com/2025/07/10/top-states-for-business-americas-2025-the-full-rankings.html
7 Fortune Magazine. https://fortune.com/ranking/fortune500
PDF Fact Sheet: Illinois is Good for Business
