Economy of Illinois facts for kids
Chicago, the largest city in Illinois
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|
| Statistics | |
|---|---|
| GDP | $1.240 trillion (2025) |
|
GDP per capita
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$97,568 (2025) |
| 0.469 | |
|
Labor force
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6,563,000 (March 2026) |
| Unemployment | 4.7% (Aug. 2026) |
| Public finances | |
| Revenues | $53.9 billion (FY2025, General Funds actual) |
| Expenses | $53.9 billion (FY2025, General Funds actual) |
The economy of Illinois is the fifth largest by GDP in the entire United States. An economy is the way people make, buy, and sell goods and services. Illinois has one of the most varied economies in the world. It is powered by the bustling economy of Chicago, which connects local farms and factories to people everywhere. The busy Chicago metropolitan area serves as home to many huge companies known around the globe. Famous businesses located here include healthcare leaders like Abbott Laboratories, AbbVie Inc., Baxter International, and GE Healthcare.
People also recognize Illinois companies that make food and run stores. These include famous names such as Kraft Heinz, McDonald’s, Conagra, Mondelez International, US Foods, and Walgreens. Other major companies in the state work in technology, travel, and home goods. For example, CDW, Motorola, United Airlines, and Crate & Barrel have major centers here. Many insurance and business firms like Allstate, Aon PLC, CNA Financial, and Willis Towers Watson also operate in the state. In total, dozens of top Fortune 500 corporations keep their main headquarters inside Illinois.
The state produces an incredible amount of wealth each year. The total gross state product reached $1.240 trillion, placing Illinois behind only California, Texas, New York, and Florida. While the nine counties near Chicago earn most of the state's total wages, other regions contribute valuable farming, building, and shipping work. Important service industries like higher education, business logistics, and medical medicine help keep Illinois workers busy year after year.
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Major Industries Driving the Illinois Economy
Illinois has a strong mix of traditional farming and high-tech modern industries. Because it sits in the middle of North America, it acts as a giant crossroads for moving goods across the continent. Trains, trucks, and airplanes easily bring items into the state to be processed or shipped around the globe.
Farming and Agriculture Across the Prairie
Most of Illinois lies outside the big cities and sits directly inside the rich North American Corn Belt. The flat ground and nutrient-rich soil make it great for growing massive field crops. Illinois farmers lead the nation in planting and harvesting sweet corn and soybeans. A large amount of these crops is turned into nutritious feed for animals like cattle and swine.
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Illinois is also famous for growing special kinds of tasty foods. The state is the number one producer of pumpkins in the whole country, growing most of the pie pumpkins used for holiday desserts. Farmers also harvest large amounts of crunchy popcorn and sweet watermelon crops. Near southern hills, the local Illinois wine industry grows grapes in areas called an American Viticultural Area. Big organizations that help farmers, including the Illinois Farm Bureau and Growmark, have their headquarters in Bloomington.
Building Machinery and Modern Manufacturing
Making physical products is another giant part of the state's daily work. Long ago, Illinois built a giant meatpacking network at the Union Stock Yards in Chicago. That early industry processed beef and pork to feed people across the country. Over time, groups like the Illinois Manufacturers' Association helped shape how factories were run across the region. Leaders worked with people like factory inspector Florence Kelley and Governor John Peter Altgeld as factory laws developed.
Today, factories in downstate Illinois are world-famous for building heavy vehicles. In Moline, the John Deere company makes iconic green farm machinery used on fields worldwide. Nearby around Peoria, the company Caterpillar Inc. became famous for heavy equipment and sturdy off-road vehicle machines. Newer electric vehicle makers like Rivian Automotive built a giant manufacturing plant in Normal to make battery-powered trucks and delivery vans.
Factories across the state also manufacture chemicals, packaged foods, computer electronics, and refined metal parts. This broad mix helps keep Illinois workers employed even when some specific industries slow down.
Money, Markets, and Big Business Services
The Chicago region acts as one of the world's greatest centers for trading money and investments. Giant institutions like BMO Bank, Discover Financial, and TransUnion help people save and manage funds. Chicago is home to famous trading floors like the Chicago Board of Trade and the Cboe Global Markets. It also features the Chicago Mercantile Exchange, which is the largest futures exchange on Earth. Investors trade contracts on commodities like corn, oil, and gold through the CME Group.
Big investment research firms such as Citadel LLC, Morningstar, Inc., and Nuveen also run operations out of Chicago. Downstate cities have giant financial offices too. For instance, the giant insurance company State Farm operates its massive national headquarters in Bloomington. Real estate firms like JLL help businesses manage gigantic office towers like the famous Aon Center.
Clean Energy and Powering the Future
Illinois produces clean electricity using strong winds and bright sunshine. The state ranks among the top five states in the country for wind-powered energy. Generating clean renewable energy has created over 100,000 jobs for technicians, builders, and engineers.
State leaders have passed special laws to invest billions of dollars into wind farms and solar panels. Governor J. B. Pritzker enrolled Illinois into the U.S. Climate Alliance to cut down harmful pollution. This clean energy push helps power homes while protecting waterways and wild animals for future generations.
Tourism and Tracking Economic Growth
Illinois attracts millions of visitors each year from across the United States and the world. Travelers explore the famous museums in Chicago, historic sites tied to Abraham Lincoln, and beautiful state parks. Visitors spend billions of dollars each year on hotel rooms, meals, and fun events.
Researchers closely track how well the state economy performs every month. Experts at the University of Illinois at Urbana–Champaign created a special measurement called a flash index. This index tracks items like corporate earnings, everyday consumer spending, and personal income. By examining trends like state tax receipts and inflation, the tool shows whether Illinois is enjoying healthy economic growth.
See also
- Economy of Chicago
- Great Lakes Megalopolis
