Key Facts
- Per Capita Real GDP
- $39,568 Rank: 16/50 (2007)
- Population
- 12,901,600 Rank: 5/50 (2008)
- Per Capita Personal Income
- $38,215 Rank: 13/50 (2006)
- Unemployment Rate
- 5.60% Rank: 43/50 (2008)
- Business Tax Climate Index
- Rank: 28/50 (2008)
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Illinois: Introduction
Illinois lies in the Midwestern United States. Its continually expanding economy has transformed the state from its once sprawling wilderness 200 years ago to one of the most productive industrial and agricultural states in the union. Across Illinois lies a dense network of highways, railroads, air routes, and waterways. Most of these meet in the Chicago metropolitan area, helping the city become one of the principal transportation centers in the United States.
Today, the Chicago metropolitan area accounts for two-thirds of the population in Illinois. As the third largest city in the United States, Chicago is also recognized as a commercial and industrial center, serving as host to the world’s first and largest derivatives exchange market (Chicago Mercantile Exchange). The city is also a leading cultural center in North America, featuring world-renowned museums and libraries.
Historically, Illinois was mainly pioneer land during 18th century. Railroad construction in the 1850s along with material and food demand during the American Civil War spurred further development of Illinois’ economy. A large influx of settlers in the 19th century led to the cultivation of the prairie lands across the state, and agriculture began to expand quickly with focus in the Chicago area. Services, finance, and manufacturing are today’s leading economic activities in Illinois. Even with the strength of other industries, agriculture remains a vital industry as Illinois ranks in the top five most productive farming states in the nation.
