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Top 5 Industries in Illinois: Which Parts of the Economy Are Strongest?

By    |   Sunday, 05 Apr 2015 05:13 AM

Home to Chicago, the financial capital of the Midwest, Illinois is a state with strong economic roots. The top industries in Illinois that significantly benefit the economy include services, manufacturing, exports, agriculture, and mining.

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Service Industries

These industries contribute the largest dollar amount to the Illinois economy, according to Netstate.com. Leading the way are the community, business, and personal services sectors. Hotels, law firms, accounting firms, engineering powerhouses, and private health-care providers generate a majority of the dollar share in Illinois’ economy. Following closely behind the heels of these industries are Illinois’ finance, insurance, and real estate conglomerates, Netstate.com said. Thirdly, wholesale and retail industries pull in a lot of cash from shoppers in places such as car dealerships, department stores, and supermarkets.  

Manufacturing

The second strongest category in Illinois’ economy is the manufacturing industry. In fact, Illinois is known as a major manufacturing leader in the entire country, Netstate.com said. The building of machinery makes up the largest portion of this, which includes assembling construction equipment, farm machinery, and machine tools. The second largest manufacturing industry is the processed foods sector. Primary food products being created in Illinois include baked goods, breakfast cereals, candy, sausage, and spices. Chemical manufacturing makes up the remainder with the production of pharmaceuticals, cleaning solutions, and paint, for example.

Exports

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The state of Illinois also has a strong export industry. In 2010 alone, the amount of goods being exported out of Illinois totaled over $50 billion, an Illinois government website said. Illinois ranks as the 6th largest state for exporting in the United States. Exports also provide the state thousands of jobs to its residents. In fact, 632,800 jobs were supported by the Illinois export industry in 2010, the website said. The top 5 industries exported out of Illinois are machinery, computers, chemicals, transportation equipment and agricultural goods. 

Agriculture

The state of Illinois houses more than 74,600 farms at 357 acres each. Almost 90% of this land is used to raise crops, and about 1,500 different types of fertile soil exist in the state. Top agricultural products raised on these farms are corn, soybeans, wheat, pork and cattle. Additional crops grown in Illinois include oats, sorghum and fruits and vegetables. Specialty crops such as ginseng, buckwheat, mushrooms and popcorn are also grown on Illinois farms and lend to a strong agriculture industry.


Mining

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Rocks found in the Illinois Basin are a rich source of coal, petroleum and minerals. With coal being the primary product, petroleum, crushed stone, sand and gravel also contribute to the Illinois economy. More than 8 billion tons of coal has been mined out of southern Illinois, primarily in the Harrisburg Coal Field. Over 4 billion barrels of petroleum have been mined out of the state of Illinois.

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Home to Chicago, the financial capital of the Midwest, Illinois is a state with strong economic roots. The top industries in Illinois that significantly benefit the economy include services, manufacturing, exports, agriculture, and mining.
industries, illinois, chicago, economy
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2015-13-05
Sunday, 05 Apr 2015 05:13 AM
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