Metro East Sun

In a June 30 Facebook post, State Rep. Amy Elik (R- Fosterburg) spoke of the importance of making the state business friendly.

A recent study and ranking of business friendliness did not place Illinois in a positive position, based partly on the cost of doing business.

"More job creators means more opportunities for our residents and more investment in our communities across Illinois. We have to make our state the best place to start and build a business if we want to get Illinois on a path toward growth," she said.

In the Facebook post, Elik shared a link to an Advantage News report that looked at Illinois’ ranking for the cost of doing business. The article focused on a study by Simplify LLC that showed Illinois’ business growth has stalled, based on census data and other sources of information. Simplify’s report said there was less than 1 business created in 2021 for the net rate of business creation.  

 A report on filing fees was issued on June 21 by Simplify LLC and notes that Illinois’ LLC filing fee is $150. In Illinois, there Is no minimum annual business tax, but there is a $75 annual report fee, which was previously $250.   

 Simplify LLC’s report on the Most and Least Expensive States to Start a Business, updated April 4, used information from the U.S. Bureau of Labor Statistics. It looked at factors related to business cost, including: labor costs, worker availability, cost of space and utilities, business environment. Illinois ranked 40th overall, with 8.589 points overall. The organization noted that the average corporate income tax rate is 9.5%, and approximately 76.5% of the population participates in the labor force. The average annual wage is $58,296. There are 137.96 commercial spaces available per 100,000 residents in the state, and the average commercial electric bill per month is just under $600, at $5926.27. The report notes that per 100,000 individuals, small businesses borrow $34,723,677. 

 Elik on May 25 announced that legislation she’d proposed to keep electric vehicle component manufacturing in state had been approved by the General Assembly. The bill, HB 4064, was included in a revenue omnibus bill (SB 1963) which had been approved by the General Assembly and sent to Gov. J.B. Pritzker’s desk for signing. 

Elik was first elected to the Illinois House in 2020. Elik's legislative experience includes serving on the Transportation: Regulation, Roads and Revenue & Finance Committee.  Elik resides in Fosterburg.