Chicago & Midwest + Downtown + Office | August 10, 2023

Illinois Rises to 17th-Best State to Do Business In

A study from CNBC recently ranked Illinois 17th out of 50 for the top states to do business in, reported Crain’s Chicago Business. The annual report ranks states based on 10 broad categories of competitiveness. It was the fourth consecutive year that the Prairie State rose on the list.

Governor J.B. Pritzker commented on the ranking to the news outlet saying, “I couldn’t be prouder that we’re outpacing more and more states, and now CNBC has ranked Illinois No. 2 in the nation for both infrastructure and education,” in a statement.

Earlier this year, Illinois was also ranked 16th in the country for real estate development, according to a report from StorageCafe. Both of these statistics are welcome news given Chicago’s ongoing rise in vacancy, most evident in the office sector. However, recent transactions amid the “flight to quality” trend show promise in redeveloping and reimagining the use of space.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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