March is Women’s History Month—an opportunity to celebrate the incredible women who have shaped our communities, our industries, and our economy. In Illinois, this celebration is grounded in history and measurable impact.
Heading up Fortune 500 boardrooms and manufacturing shop floors, innovating in life sciences labs and tech startups, women are driving economic growth across the state and creating in Illinois a more prosperous place for all.
The Women Powering Illinois’ Economy
Illinois is home to 6.4 million women—50.6% of our total population (U.S. Census, 2024). That majority presence translates into real economic momentum. According to the U.S. Census (2023), Illinois boasts:
- 521K women-owned firms—representing 38% of all businesses statewide
- 52.8K women-owned employer firms—22% of all employer firms
- 501.5K employees supported by women-owned employer firms
- $22.9B in annual payroll generated by women-owned employer firms
Further, Illinois continues to rank as one of the best places in the U.S. for women entrepreneurs, according to 2024 data:
- #6 among U.S. states for best places for women entrepreneurs
- Illinois is among just 36 global organizations recognized with the Startup Ecosystem Stars Award in 2025—and the sole recipient to receive awards across all 5 categories: Best-in-Class Startup Programs, Outstanding Investment Boost, Top Talent & Research, Exceptional Industry Support, and Pioneering Innovation Policy
- Chicago region ranked #3 among metro regions for women entrepreneurs
- Chicago ranked #2 best city in the U.S. for entrepreneurs to live in
- Illinois is among the 7 Equity Innovation Leader States named by the Nasdaq Entrepreneurial Center
These rankings reinforce what we see every day at Illinois EDC: Women are helping to shape Illinois’ prosperous, growing economy.
Strategic Support for Illinois’ Women Business Leaders
Success doesn’t happen in isolation, and our state has built an ecosystem intentionally designed to support its women in business leadership.
Since 2020, the Illinois Department of Commerce and Economic Opportunity (DCEO), a civic partner of Illinois EDC, has provided more than $199 million in awards to over 7,800 women-owned businesses, and their Office of Entrepreneurship, Innovation & Technology (EIT) has supported women-owned businesses in accessing $48 million through programs such as Advantage Illinois and the Illinois Angel Investment Tax Credit Program.
In 2024 alone:
- 56% of businesses advised by the Illinois Small Business Development Centers (SBDC) were women-owned
- 60% of businesses started with SBDC assistance were women-owned
Not to mention:
- 44% of government contracts secured with the Illinois APEX Accelerator assistance were by women-owned businesses ($85.8M in government contracts)
- 60% of all export sales secured with the Illinois International Trade Centers (ITC) assistance were by women-owned businesses (resulting in $39M in export sales)
Additionally, nearly 2,600 women-owned businesses have received certification through the Illinois Commission on Equity and Inclusion’s Business Enterprise Program, expanding their access to procurement opportunities. This is what strategic economic development looks like: policy, capital, and a business environment aligned to create access and acceleration for Illinois’ minority business leaders, women included.
Women-Owned Businesses Choosing Illinois
Illinois continues to attract and grown women-led companies across industries, spanning food manufacturing, aerospace technology, battery innovation, advanced materials, and more:
- Phoenix Bean is a key tofu supplier in the Chicagoland area for over 30 years, purchased by Jenny Yang in 2006. Their product line includes both Phoenix Bean and Jenny’s Tofu brands, and the company received an EDGE agreement to relocate its operations into a 40K-sq-ft facility in Harwood Heights.
- WingXpand was founded by a former TV journalist, Michelle Madaras, who often used drones to capture footage for news stories in St. Louis, and today builds high-quality drones that are both portable and resilient. The company received an EDGE agreement to relocate its headquarters and manufacturing operations to Schaumburg.
- Pure Lithium was founded by Emilie Bodoin, an experienced lithium expert who formerly worked with Argonne National Laboratory on a lithium metal production project. The company received a REV agreement to invest in an R&D and manufacturing hub in Chicago.
- Special Olympics Illinois was founded by Eunice Kennedy Shriver to unite people from all walks of life through the common ground of sports. Originally “Camp Shriver”—a summer day camp for people with disabilities she hosted in her backyard—grew into what would become the first International Special Olympics Games, held in Chicago in July 1968. Today, the Special Olympics continue to expand, with the Illinois organization purchasing a 20K-sq-ft office in Chicago.
- After School Matters is a nonprofit leader in the Chicagoland area, headed up by CEO Mary Ellen Caron. The organization, which supports up to 19K teens across Chicago annually to develop their professional skills, has significantly expanded their operations under Caron’s leadership—including a new Teen Center in Chicago’s Cabrini neighborhood, which opened in November 2025.
- Whole & Free Foods (DBA Every Body Eat) was launched as a startup in 2020 by Trish Thomas and Nicole Wilson, two women impacted by food allergies and sensitivities. The company recently expanded its food manufacturing operations into a 20K-sq-ft Evanston site, producing gluten- and allergen-free snacks.
A Legacy of Leadership
Illinois has long produced women leaders who shape national and global conversations:
- Jane Addams, the first American woman to win the Nobel Peace Prize
- Ida B. Wells, civil rights leader and investigative journalist
- Gwendolyn Brooks, Illinois’ poet laureate for over three decades
- Betty Friedan, author of The Feminine Mystique, which is widely credited as the book that launched the feminist movement
- Oprah Winfrey, the first Black woman billionaire
- Michelle Obama, the former First Lady
- Sandra Cisneros, the award-winning author best known for The House on Mango Street
- Jackie Joyner-Kersee, a three-time Olympic gold medalist in track and field and founder of the Joyner-Kersee Youth Center Foundation and Athletes for Hope
- Jeanne Gang, one of the most prominent architects of her generation (and winner of the 2016 Architect of the Year by Architectural Review)
- Senator Tammy Duckworth, the first Thai-American U.S. congresswoman
Demonstrating excellence across civic leadership, architecture, athletics, public service, and business, these legacies have paved way for woman leadership as visible, expected, and celebrated.
Organizations Strengthening the Ecosystem
Illinois’ economic strength is amplified by the organizations dedicated to advancing women in business and leadership:
- Women’s Business Development Center is a nonprofit that supports women entrepreneurs with training, business development programs, and access to capital and contracts across the Midwest.
- Women’s Business Council is a Chicagoland Chamber-supported initiative that brings together women professionals from business and nonprofit sectors to provide mentorship, networking, education, and advocacy to support women’s leadership and career advancement in the region.
- The Chicago Network is a membership organization of senior women leaders in Chicago’s business, nonprofit, and civic sectors dedicated to advancing women’s leadership and gender equity across the city.
- NAWBO Chicago, the Chicago chapter of the National Association of Women Business Owners, provides networking, advocacy, and business growth support for women entrepreneurs.
- Women’s Entrepreneurship Hub is a statewide resource initiative by Women Employed that centralizes tools, mentorship, and business support to help women across Illinois start and grow their own businesses.
- Female Strong is a Chicago-based nonprofit empowering middle and high school girls with confidence-building programs, mentorship, and entrepreneurial skills to become future leaders.
- CREW Chicago is a local chapter of Commercial Real Estate Women focused on advancing the success of women in the commercial real estate industry through networking, leadership development, and industry engagement.
Together, these organizations support mentorship, access to capital, networking, and advocacy, reinforcing Illinois as a state where women can (and absolutely do) thrive.
Why This Matters for Economic Growth
For Illinois, inclusive growth = competitive growth. Women-owned businesses contribute billions in payroll, create hundreds of thousands of jobs, and strengthen supply chains across manufacturing, life sciences, clean energy, agriculture, tech, and transportation.
And for companies considering expansion or relocation, Illinois offers:
- A majority-women population
- A nationally ranked entrepreneurial ecosystem
- Proven public-private support programs
- Access to capital and certification pathways
- A culture of leadership that values representation
As we celebrate Women’s History Month in 2026, we’re simultaneously committed to building an economy where opportunity is broad, leadership is diverse, and innovation is inclusive.
Interested in learning more about Illinois for your company? Get in touch with our team today.
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