Illinois is home to 35 Fortune 500 companies’ headquarters, which ranks fourth overall in the U.S. Most of the companies are located in the Chicagoland area, with the exceptions being Deere in Moline and State Farm Insurance in Bloomington. Overall, the numbers are shrinking, as Citadel, Boeing, and Caterpillar have relocated to other states in recent years. In addition, McDonald’s, which has been in Chicago since the 1950s, could be on the move. Many other states boast lower property taxes than Illinois. Texas, where Caterpillar is headed, has no state income tax.
