Illinois Ranks 13th Best State for Business, Showcases Economic Resilience and Strategic Growth
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Illinois Ranks 13th Best State for Business, Showcases Economic Resilience and Strategic Growth
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The 2025 legislative session, which ran from January through May, introduced nearly 7,900 bills, with just over 400 advancing to the governor’s desk. Key state actions included passage of House Bill 2755, the fiscal year 2026 budget, which brings substantial tax changes for Illinois businesses such as altering income allocations related to S corporations and partnerships, and extending the reach of service taxes to remote sellers nationwide. Notable education funding shifts were also part of the new budget. Total K-12 education funding under the Illinois State Board of Education will be $15.9 billion, but with a 9 percent decrease over last year, balanced by targeted increases for evidence-based funding, after-school programs, and teacher mentoring initiatives. Additional resources went to special education, grants for inclusivity in school instruction, and support for visually impaired students.
Major infrastructure projects are underway as part of the state’s $500 million Site Readiness initiative, with $298 million directed to five projects in the Champaign-Urbana region alone. Big-ticket developments include reconstruction of the I-57/74 interchange and several bridge replacements. State officials say these investments are key to job creation and regional safety improvements.
On the political front, attention is turning toward the 2026 U.S. Senate race, with candidates responding to the federal “One Big, Beautiful Bill” signed by President Trump, which introduces sweeping cuts to social service programs. Illinois is projected to lose over $700 million for SNAP and face significant Medicaid reductions, with state officials voicing concern and strategizing to address the funding gap.
In local government, Chicago officials pressed for transparency among federal immigration agents following reports of masked actions, and a new ethics measure advanced to prevent interference in mayoral oversight investigations. Meanwhile, community associations across Illinois continued to advocate for reserve study legislation, stressing the importance of fiscal planning for the nearly four million Illinoisans living in association-managed homes.
Looking ahead, listeners should keep an eye on key infrastructure completion dates, ongoing campaign developments for looming Senate races, and unfolding impacts on health and nutrition programs following recent federal decisions. State leaders are also working to finalize the future uses of redeveloped sites under the new “Surplus to Success” program, which could shape Illinois’ economic landscape for years to come.
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