CURRENT ILLINOIS BUSINESS ANALYSIS
Rick Surkamer, Co-ChairIllinois Chamber of Commerce
Economic Development Council
Dr. Jill KickulKellstadt Graduate School of Business
DePaul University
Economic Development Economic Development Council Research FindingsCouncil Research Findings
Who are we?
Economic Development Council
Illinois Chamber of Commerce Members Purpose
Illinois Business AnalysisStudy Goals
Identify state government incentives that encourage and support businesses
Explore and suggest new drivers of economic growth that allow organizations to find innovative ways to increase efficiency, lower costs, and improve technological processes
Illinois Business Analysis
Current business optimism
23%
46%
31%
More (23%)
Less (46%)
About the Same(31%)
23%
46%
31%
More (23%)
Less (46%)
About the Same(31%)
Forty-six percent of the Illinois businesses surveyed are less optimistic about the economy of the region served by their organization than they were 12 months ago.
Forty-six percent of the Illinois businesses surveyed are less optimistic about the economy of the region served by their organization than they were 12 months ago.
Study Participants and Methodology Over 160 Illinois businesses Average annual revenues ($78.2
million) Average # employees (300+ workers)
18%
33%
2%4%3%11%
9%
4%
1%15%
Service (18%)
Manufacturing (33%)
Retail (2%)
Finance/Insurance/Real Estate (4%)
Transportation (3%)
Professional Services (11%)
Distributor/Wholesaler (9%)
Construction (4%)
Agri-business (1%)
Other
Summary of Key Findings
Four key areas of interest and opportunities:
1. Improve education 2. Reduce state driven costs3. Promote existing quality
programs4. Explore new drivers of growth
Educate the child, employees and business owners
4.51
3.86
3.65
3.65
3.61
3.60
3.60
Education
High Technology Companies
Manufacturing Companies
Service Industry Companies
Foreign Trade
Inter-modal Transportation DistributionCenter
Start-Up Companies
4.51
3.86
3.65
3.65
3.61
3.60
3.60
Education
High Technology Companies
Manufacturing Companies
Service Industry Companies
Foreign Trade
Inter-modal Transportation DistributionCenter
Start-Up Companies
Educate the child, employees and business owners
Improving Business Climate
3.73
3.2
3.17
3.16
3.15
Employee Training and DevelopmentAssistance
Netw orking Events
Employee Retention Assistance
Business Development Assistance
Employee Recruitment Assistance
Improving Business Climate
3.73
3.2
3.17
3.16
3.15
Employee Training and DevelopmentAssistance
Netw orking Events
Employee Retention Assistance
Business Development Assistance
Employee Recruitment Assistance
Reduce state driven cost of doing business
4.594.41
4.21
3.9 3.83 3.77 3.76
0
0.5
11.5
2
2.53
3.5
44.5
5
Containing Health Care
Costs
Improving the K-12
Education System
Policy Changes to
Reduce Workers'
Compensation Costs
Changes in Real
Property-Tax Structure
Changes in Business-
Tax Structure
Improving the State's
Public and Private
University Systems
Advertising and
Marketing the State as a
Good Place to do
Business
4.594.41
4.21
3.9 3.83 3.77 3.76
0
0.5
11.5
2
2.53
3.5
44.5
5
Containing Health Care
Costs
Improving the K-12
Education System
Policy Changes to
Reduce Workers'
Compensation Costs
Changes in Real
Property-Tax Structure
Changes in Business-
Tax Structure
Improving the State's
Public and Private
University Systems
Advertising and
Marketing the State as a
Good Place to do
Business
Reduce state driven cost of doing business
Reduce state driven cost of doing business
Lower cost via taxes Lower cost via labor Increase market opportunities Increase qualified labor pool Strengthen infrastructure Improve quality of life
Reduce state driven cost of doing business
Illinois Firms Re-locating Outside of State
Workforce
Employment and Training
Operational
Improvements
Financial Assistance
Market
Innovations
0
500
1000
1500
2000
Missed Business Opportunities
Em
plo
yees
(A
vera
ge)
Market and promote existing state programs
Top utilized state programs
Industrial Training Program Enterprise Zone Illinois Skills Match (ISM) Tax Increment Financing (TIF) Economic Development for a
Growing Economy (EDGE)
Market and promote existing state programs
Informational andKnowledge Sharing
Resources in Partnering toFacilitate Implementation
Informational andKnowledge Sharing
Resources in Partnering toFacilitate Implementation
Technology Barriers
Cost Minimization
Risk Reduction
Future Investment In Technological
Innovations
Capital/Resource Investments
Explore drivers for growth
The state of Illinois is diverse with…
Varying industries Economic trends Region-specific
needs and interests
Region Strengths Weaknesses
Upper Logistics Labor Base Market Proximity
Transportation Cost of Living Taxes
Central Labor Base Stability Logistics
Skilled Labor
Southern Labor Base Logistics
Lack of Infrastructure Quality of Education
Explore drivers for growth
Implementation Strategies
