Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Chicago & Midwest  + Illinois  + Finance  | 

Illinois Leads Midwest for Business Startups 

Illinois is leading the Midwest, and is among the top 10 states nationally, in business startups, the Pritzker administration said Friday. Data from the Census Bureau’s Business Formation Statistics Report  also show that Illinois saw its highest number of business startups to date, 198,827, in 2021. 

Regionally, Illinois had the highest number of business startups in the Midwest (as defined by the Census bureau), with 44,000 more business startups than second-ranked Ohio, as well as the region’s highest growth (69%) between 2019-2021. Nationally, Illinois ranked sixth in the number of business startup—behind Florida, California, New York, Texas and Georgia—and eighth in growth rate overall. Among the 20 largest states, it ranks second behind Georgia for growth rate. 

“”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,” said Gov. JB Pritzker.  


Inside The Story

Gov. Pritzker's Office

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy