Illinois State (U.S.A.), a land of agriculture, Biofuels, manufacturing, wind power, bituminous coal and services
Illinois is
an exciting dynamic state with an interesting mature
market of + 12 million consumers.
The dollar
gross state product for Illinois was estimated
to be US$772 billion in 2015. Illinois'
state income tax is calculated by multiplying net income by a flat rate.
There are
two rates for state sales tax: 6.25% for general
merchandise and 1% for qualifying food, drugs, and medical appliances. The property tax is a major source of
tax revenue for local government taxing districts.
Illinois'
major agricultural outputs are corn, soybeans, hogs, cattle,
dairy products, and wheat. In most years, Illinois is either the first or
second state for the highest production of soybeans.
Illinois
ranks second in U.S. corn production with more than
1.5 billion bushels produced annually.
Illinois is
a leader in food manufacturing and meat processing. The
Chicago area remains a global center for food manufacture and meat processing,
with many plants, processing houses, and distribution facilities concentrated
in the area of the former Union Stock Yards.
Illinois
also produces wine, and the state is home to two American
viticultural areas.
Illinois is one of the nation's manufacturing leaders.
Illinois'
economy had moved toward a dependence on high-value-added services, such as
financial trading, higher education, law, logistics, and medicine.
Illinois is
a net importer of fuels for energy, despite
large coal resources and some minor oil production. Illinois exports electricity, ranking fifth among states in
electricity production and seventh in electricity consumption.
According to
the Illinois State Geological Survey,
211 billion tons of bituminous coal are estimated to lie under the
surface, having a total heating value greater than the estimated oil deposits
in the Arabian Peninsula.
Illinois is
a leading refiner of petroleum in the American
Midwest, with a combined crude oil distillation capacity of nearly 900,000
barrels per day (140,000 m3/d).
However, Illinois has very limited crude oil proved reserves that
account for less than 1% of U.S. crude oil proved reserves.
Nuclear
power arguably began in Illinois with the Chicago Pile-1, the
world's first artificial self-sustaining nuclear chain reaction in the world's
first nuclear reactor, built on the University of Chicago campus.
Illinois has
seen growing interest in the use of wind power for
electrical generation.
Illinois is
ranked second in corn production among U.S. states, and
Illinois corn is used to produce 40% of the ethanol consumed in the United
States.
The Archer Daniels Midland
corporation in Decatur, Illinois is the world's leading producer of ethanol
from corn.
The National
Corn-to-Ethanol Research Center (NCERC), the world's
only facility dedicated to researching the ways and means of converting corn
(maize) to ethanol is located on the campus of Southern Illinois University
Edwardsville.
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