Location Information
Business Assistance in Will County, IllinoisOur strategic location, tremendous road, rail, water, and air transportation assets, strong residential growth, and more than 204 million square feet of industrial space make us a highly desirable location for business and industry.
Will County Job Growth & Highlights
Boasting a highly skilled local and regional workforce, low property taxes, and a pro-growth attitude among its thirty-seven municipalities, Will County is a leading job growth engine in Illinois and the Midwest.
Will County has added 45,000 jobs over the last ten years, growing at a rate well above that of the state and nation (Bureau of Labor Statistics).
Will County covers 850 square miles and is part of the Chicago-Joliet-Naperville MSA. With its strategic location, access to global markets, and impressive quality of life, Will County continues to have much to offer to both business and residents.
In terms of population, Will County is in the top 100 in the nation with an estimated population of 689,876 (U.S. Census)
For the third year in a row, Will County ranks #1 in Illinois in new single-family housing permits. 44% ahead of its closest competition, Will County maintains its position as an attractive place to build a home and a life.
Will County is home to a number of higher educational institutions: Devry University, Governors State University, Joliet Junior College, Lewis University, Rasmussen University, and University of St. Francis. 34% of Will County residents age 25 and over have a bachelor’s degree or higher.
Will County’s Abundant, Skilled Workforce
As part of the Chicago metro region, which has a workforce of more than 4.6 million people, businesses in Will County have access to highly skilled workers for occupations in industries that want to grow.
Will County Maps, Demographics & Illinois Tax System Overview
Will County Demographics
- The median household income is $90,800, fourth highest in Illinois. (US Census).
- The median home value is $251,600 (U.S. Census)
- There are 15,832 businesses in the county employing more than 267,799 people (US Census).
- From 2016 to 2021, jobs increased by 5.5% in Will County from 253,900 to 267,799. This change greatly outpaced the national growth rate of 0.4% (EMSI).
- The total amount of industrial square footage is more than 204 million square feet within 2,000 buildings (CoStar).
Illinois’ Tax System Overview
- Corporate Income Tax Rate: 9.5% (.0950) as of 2020
- Individual Income Tax Rate: 4.95% (.0495) as of 2020
- State Sales Tax: 6.25% general merchandise
State Sales Tax:
Imposed on a seller’s receipts from sales of tangible personal property for use or consumption. Tangible personal property does not include real estate, stocks, bonds, or other “paper” assets representing an interest.
- Illinois sales tax four major rate structures include:
- Qualifying food, drugs, and medical appliances – 1%.
- Items required to be titled or registered – 7.25%.
- Other general merchandise – 6.25%.
- Motor fuel “prepaid sales tax” on motor fuels – $0.391 per gallon.
Property Tax:
The property tax is the largest single tax in Illinois and is a major source of tax revenue for local government taxing districts. Property tax is a tax that is based on a property’s value. It is sometimes called an “ad valorem” tax, which means “according to value.” It is a local tax imposed by local government taxing districts (e.g., school districts, municipalities, counties) and administered by local officials (e.g., township assessors, chief county assessment officers, local boards of review, county collectors). Property taxes are collected and spent at the local level.
Only real property is taxed in Illinois.
Generally, the property tax cycle is a two-year cycle. During the first year, property is assigned a value that reflects its value as of January 1 of that year. During the second year, the tax bills are calculated and mailed and payments are distributed to local taxing districts.
Will County & State of Illinois Resources
If Your Business is Currently in Will County or Looking to Relocate
We invite you to contact us to discuss why Will County?
Doug Pryor
President & CEO
815-774-6065
We are here to guide and assist you in meeting your business goals.
Will County Economic Overview 2021
View the 2021 Will County Economic Report completed by the Workforce Investment Board of Will County.
Let Us Be of Service!
The CED is a strategic partner in your business development project.
Some of the programs, services and guidance we provide include:
- Business retention and expansion assistance
- Marketing to and recruiting new business
- Access to State, County and local government incentives
- Economic development events and conferences
- Community economic development training for local officials
- Information on available sites and buildings
- Demographic and labor force statistics
- Education and training resources
- Public and private utility information
- Comparative business cost analysis
- Development entitlement process
- Development project management from A to Z
- Federal, State and local government contacts and introductions
- Access to commercial and industrial brokers and developers
- Local, State and federal policy and program lobbying assistance
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