2  ILLINOIS BUSINESS LEADER
PRESIDENT’S MESSAGE
Prioritizing Growth in Illinois
LOU SANDOVAL
PRESIDENT AND CEO
Dear Chamber Members:
 
Illinois is experiencing numerous 
positive developments throughout 
the state. Our robust transporta­
tion infrastructure, combined with 
a central location and vital trade 
partnerships, has fostered a strong 
and growing sector of foreign direct 
investment. The manufacturing and 
technology sectors in Illinois have 
leveraged innovation to stay ahead of 
market dynamics and lead the state’s 
economic resurgence. The Governor’s 
team has harnessed the potential 
of quantum computing and micro­
electronics to create opportunities 
in areas such as the South Side of 
Chicago, which has faced decades of 
disinvestment. 
	
However, despite these encour­
aging trends and Illinois’s potential, 
not all regions or economic levels 
are experiencing the benefits. The 
Tax Foundation recently released its 
Tax Competitiveness Index, ranking 
Illinois 37th out of 50 states. This 
ranking reflects factors such as the 
state’s corporate tax rate (42nd), sales 
tax rate (38th), and property tax rate 
(41st). While we have utilized incen­
tives to attract new industry sectors, 
we may be better served by directing 
more incentives toward business­
es that are already operating here 
and feeling the impact of the state’s 
business climate. It’s time for Illinois 
to reset its trajectory and embrace 
policies that encourage growth, op­
portunity, and long-term prosperity 
for all residents. 
	
Illinois possesses all the ingre­
dients for success. We are home to 
world-class universities, a diverse 
workforce, a central location with 
easy access to major markets, and 
a comprehensive transportation 
network. Despite these advantages, 
existing businesses face govern­
ment mandates and penalties that 
complicate their operations. Larger 
companies can often absorb these 
impacts, while medium and small-
sized businesses struggle with profit 
margin compression and operating 
deficits due to rising costs of goods 
and labor. 
	
The way forward involves creat­
ing a business-friendly environment 
that supports entrepreneurs, small 
businesses, and large corporations 
alike. We need to streamline burden­
some regulations, reduce taxes that 
hinder investment, and implement 
policies that encourage long-term 
economic stability. Illinois should 
be a place where businesses want to 
start, grow, and remain—where the 
next generation of innovators can 
find the support they need to bring 
their ideas to fruition. 
	
One of the most critical com­
ponents of this growth is workforce 
development. As technology advanc­
es and industries evolve, we must 
invest in education and training pro­
grams that equip our residents with 
the skills needed for success in the 
21st-century economy. Strengthening 
partnerships between businesses and 
educational institutions and ensuring 
access to job training in emerging 
fields such as renewable energy, 
healthcare, and advanced manufac­
turing, will position Illinois at the 

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