The state has more business startups now than at any point since the data was first reported in 2004.
SPRINGFIELD, Ill. (WREX) — New data shows Illinois leads all of the Midwest in business startups.
According to data from the Business Formation Statistics Report, in 2021, 198,827 business startups opened in Illinois. That is an increase of almost 30,000 from 2020 and a 69% increase from pre-pandemic levels in 2019.
The state has more business startups now than at any point since the data was first reported in 2004.
“Illinois’ prowess in attracting and growing new businesses is a testament to the power of a state that balances its budgets, provides fiscal stability for entrepreneurs, supports families, and builds a firewall around the rights of the people who call her home,” Governor J.B. Pritzker says. “With yet another record-breaking year under our belt, Illinois kicks off 2022 with a message for the world: we’re back and open for business.”
With almost 200,000 new business startups in the state last year, Illinois led the Midwest in startup growth, with Ohio being the next-highest at almost 155,000.
Nationally, Illinois ranks eighth in business startup growth from 2019, behind Mississippi, Georgia, South Carolina, Louisiana, Alabama, Wyoming and Delaware.
“Governor Pritzker has prioritized Illinois’ workforce and economy – and it shows: businesses in Illinois are launching in record numbers,” said Sylvia Garcia, Interim Director of the Illinois Department of Commerce and Economic Opportunity. “From innovative tax incentives for new businesses, to small business centers designed to support up-and-coming entrepreneurs, Illinois remains committed to investing in proven programs that spur innovation, create jobs and boost our economy.”
Illinois is the largest state in the country to rank in the top ten for business startup growth since 2019.
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