Looking out for storage units for rent in Illinois? Look into the listings above and discover the best units for you.Illinois is a major industrial state in the United States, and its economy has historically been driven by a variety of industries. The most prominent industries are manufacturing, finance and insurance, health care and social assistance, and professional, scientific, and technical services. Illinois is home to the largest manufacturing sector in the country, accounting for over $114.73 billion of the state's GDP in 2021. The industry is responsible for over 20 percent of the state's labor force, employing over 557,000 workers. (https://www.nam.org/state-manufacturing-data/2022-illinois-manufacturing-facts/)
Manufacturing in Illinois is dominated by the automotive and transportation equipment sector, which produces over a quarter of the state's manufactured goods. The state is also home to a large number of aerospace, chemicals, and food-manufacturing companies. The pharmaceutical and medical device industry is also well-established in Illinois, with a number of major companies such as Abbott Laboratories and Baxter International having their headquarters in the state.
Illinois is home to a large financial services industry, with many of the country's largest banks and insurance companies based in the state. The finance and insurance sector accounts for over 8 percent of the state's GDP, and has grown significantly in recent years due to the growth of the technology sector. The state is also home to a number of major international companies such as Boeing, Caterpillar, and McDonald's.
The state's healthcare and social assistance sector is also a major contributor to the economy, accounting for 67.98% percent of GDP in 2021. (https://www.statista.com/statistics/304912/illinois-real-gdp-by-industry/)
The industry is responsible for over 600,000 jobs, and is one of the largest employers in the state. The sector is dominated by hospitals and clinics, which employ over two-thirds of the state's health care workers.
The professional, scientific, and technical services sector is a major contributor to the state's economy, accounting for over 8 percent of GDP in 2018. The sector is responsible for over 400,000 jobs in the state, and is dominated by computer and IT services firms. The state is also home to a large number of professional services firms such as accounting, legal, and consulting firms.
In terms of economic growth, Illinois has seen steady growth since the Great Recession, with GDP growing by an average of 0.78 percent annually from 2016-2021. (https://www.deptofnumbers.com/gdp/illinois/)
The state's unemployment rate has also decreased significantly over the same period, dropping from a high of 10.7 percent in 2009 to 4.1 percent in 2022. (https://www.bls.gov/regions/midwest/illinois.htm#eag)
According to the Bureau of Economic Analysis, Illinois ranked as the 5th largest economy in 2021 (https://www.deptofnumbers.com/gdp/illinois/)