The Illinois economy is growing at a brisk pace. New businesses, more jobs and lower unemployment are helping Illinois dig out of the deep recession that had plagued the United States since 2008. Despite demands for business “reforms” – including “workers’ compensation reforms” and/or “tort reform” – it is obvious that the economy in Illinois is rebounding from the national recession. The economy of Illinois is the fifth largest by GDP in the United States and one of the most diversified economies in the world.
There are more than 1.2 million small businesses operating in the state of Illinois. These businesses employ 2.5 million people, which is 45.1% of the state’s workforce and nearly 20% of the entire population. Small businesses account for 99.6% of the state’s private enterprise, making them a vital part of Illinois’s economy.
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