$897.123 billion.
Economy of Illinois
| Statistics | |
|---|---|
| GDP | $897.123 billion (2019) |
| GDP per capita | $70,797 (2019) |
| Population below poverty line | 11.5% |
| Gini coefficient | 0.469 |
Contents
What is the biggest industry in Illinois?
The most lucrative industry in Illinois was the finance, insurance, real estate, rental, and leasing industry which contributed a value of 161.35 billion chained 2012 U.S. dollars of value to the state’s GDP in 2020.
What percentage of Illinois economy is from Chicago?
The Chicago region also produces a whopping 77.4 percent of the entire state of Illinois’ gross output.
Is Illinois a rich country?
Illinois is the 11th-wealthiest of the 50 United States, with a per capita income of $23,104 according to the 2000 census.
How big is Chicago’s economy?
Strong, Diversified Economy
Chicago has one of the world’s largest and most diversified economies, with more than four million employees and generating an annual gross regional product (GRP) of over $698 billion.
What is Illinois main export?
The state’s largest manufacturing export category is machinery, except electrical, which accounted for $11.8 billion of Illinois’s total goods exports in 2018.
Does Illinois have a good economy?
The economy of Illinois is the fifth largest by GDP in the United States and one of the most diversified economies in the world.As of 2017, Illinois ranked fourth in the nation for the most Fortune 500 based companies with a total of 36.
What does Illinois produce the most of?
Illinois is a leading producer of soybeans, corn and swine. The state’s climate and varied soil types enable farmers to grow and raise many other agricultural commodities, including cattle, wheat, oats, sorghum, hay, sheep, poultry, fruits and vegetables.
Who is the largest employer in Illinois?
Detailed List Of The 100 Biggest Companies In Illinois
| Rank | Company | Employees |
|---|---|---|
| 1 | Walgreens | 253,400 |
| 2 | McDonald’s | 210,000 |
| 3 | Boeing | 153,027 |
| 4 | Caterpillar | 101,500 |
Why is Illinois economy so bad?
Long-run economic growth can be decomposed into three factors: population growth, employment growth and labor productivity growth.Another major factor contributing to Illinois’ lackluster economic performance is the state’s weak labor market.
What is the poorest US state?
New Hampshire
States, federal district, and territories
| Rank | State | Supplemental Poverty Measure (2017–2019 average) (Geographically Adjusted) |
|---|---|---|
| – | United States | 11.7% |
| 1 | New Hampshire | 8.3% |
| 2 | Utah | 8.0% |
| 3 | Maryland | 12.0% |
Is Illinois a poor state?
Illinois – Poverty rate 2000-2019
In 2019, about 11.5 percent of Illinois’ population lived below the poverty line.
What is the richest state government?
Richest U.S. States by GDP
- 1. California. California, the nation’s most populous state, has the largest state GDP of $3,120,386,000. California’s median household income is $80,440, the sixth-highest in the U.S.
- Texas.
- New York.
- Florida.
- Illinois.
What are the top 5 industries in Illinois?
Top Industries In Illinois
- Business Services.
- Advanced Manufacturing.
- Education.
- Agriculture.
- Energy.
- Biotechnology.
- Sports.
How does Illinois make money?
As shown in Figure 1, the Federal Government is the largest single source of revenue for the State of Illinois, due in large part to programs such as Medicaid that are jointly funded between the state and federal government. Income tax and sales tax are also large parts of the state’s revenue stream.
What is Illinois known for?
Here are a few.
- 9 things Illinois is known for. Illinois is one of the most populated states in the country, albeit getting smaller, according to recent U.S. Census results.
- Chicago. This one is a no-brainer.
- Lincoln.
- Corruption.
- Famous foods.
- Farming.
- Taxes.
- More presidents: Ronald Reagan, Barack Obama and Ulysses Grant.
What is the most popular job in Illinois?
CHICAGO (CBS) — For anybody who spends just a few moments traveling the expressways around Chicago, it should come as no surprise that the most common job in Illinois, and the nation for that matter, is: truck driver.
Who owns the most farmland in Illinois?
Melinda Gates
(KARK) – Bill and Melinda Gates are taking on the new title of the biggest farmland owners in the United States, with a portion of that ownership being in Illinois. According to landreport.com, the Gates family has a total of 242,000 in farmland acreage in the United States.
Who is the biggest farmer in Illinois?
Subsidy Recipients 1 to 20 of 303,873
| Rank | Recipient (* ownership information available) | Total USDA Subsidies 1995-2020 |
|---|---|---|
| 1 | Pat Scates & Sons * | $10,633,294 |
| 2 | Harbach Family Partnership * | $7,995,679 |
| 3 | Rubenacker Farms * | $7,665,111 |
| 4 | Sam Beetz & Sons * | $7,656,880 |
Is Illinois a rich or poor state?
Illinois’ poverty rate stands at 10.9%, the 23rd lowest in the country. But the state’s supplemental poverty rate is 12.3%, the 22nd highest in the nation. This marks the 13th largest difference between poverty rates and supplemental poverty rates in the U.S., according to the study.
Is Illinois a good place to live 2021?
Illinois is the 18th-best state to live in the country, according to WalletHub’s 2021 Best States to Live In list. WalletHub compared all 50 states across five metrics covering affordability, economy, education and wealth, quality of life and safety.
