This March, Intersect Illinois is celebrating Women’s History Month by championing women business leaders in Illinois — from Fortune 500 executives to small business owners, and the workforce of women making it all come to life.
We’re featuring top players like Shana Kelley, president of the Chan Zuckerberg Biohub Chicago; Karen Sauder, president of global client and agency solutions at Google; and Jennifer F. Scanlon, president and CEO of UL Solutions.
As a state that seeks opportunity to proactively support women and women-owned businesses (WOBs), we asked these leaders of top Illinois-based companies: “Why did your company choose to be in Illinois?” and “What about Illinois has made you stay?”
Read on to learn more about the workforce of women in Illinois, and why you — as a woman business leader or an advocate of one — would thrive in Illinois’ supportive environment, too.
Did You Know? Women-Owned Businesses in Illinois
Illinois is a top state in the U.S. for WOBs, ranking #6 overall according to Clarify Capital 2024, and a top-10 state for:
- Number of female-owned small businesses per 10K
- Percentage of female-owned small businesses
- Number of female-owned businesses with 500+ employees
- Number of female-owned businesses with $1M+ in revenue
Further, Chicago is a top metro in the U.S. for WOBs, ranking #3 overall, and a top-5 metro for:
- Number of female-owned small businesses per 10K
- Number of female-owned businesses with 500+ employees
- Number of female-owned businesses with $1M+ in revenue
Over 6.3 million people in Illinois are female, making up 50.6% of the state population, and has over 3 million female employees in total (Census 2023). Illinois boasts over 458,000 WOBs, employing 645,000 people, and makes up an annual payroll of over $18.5 billion (DCEO 2024).
Shana Kelley: Illinois’ Spirit Drives Creativity and Productivity
The Chan Zuckerberg initiative opened a competition in 2022 to seek the right team and the right location to set up the next biohub, following their successful establishment in San Francisco about seven years prior.
“Northwestern University, University of Chicago, and University of Illinois Urbana-Champaign joined forces and put in an application. We won. (And the competition was very stiff!) There were a few keys to our success: the strength of the universities in Chicago…the culture of collaboration…the way we get things done. We find solutions.
“It was about the people, but also the geography and the city…it made so much sense because we have incredible spaces available. It’s very cost-effective.
“Illinois has a tremendous life sciences ecosystem with a ton of momentum behind it. We have fantastic anchor companies like AbbVie and Abbott that really help us create and sustain that talent pool — an incredible talent pipeline. But we also have an incredible startup scene; there are a lot of incubation facilities [to support the development of new companies].”
In Illinois, “we’re really reaching for the stars and trying to do more and be better. And I think that kind of spirit really drives creativity and productivity.”
Not just is Illinois an opportune location for high-growth industries like life sciences, but its connectivity, both locally and globally, is unmatched. “One thing I love about being in Chicago is how connected you are. Everything is one flight away; it’s one of the easiest places to get absolutely anywhere in the world.”
Karen Sauder: Google Continues to Grow After More Than 20 Years in Illinois
Google has had headquarters in Illinois for almost 25 years. “We’ve had a great experience in Illinois…a manifestation of an open, inclusive market. The tech ecosystem in Illinois continues to evolve.”
Backed by supportive policy and offering abundant tax-based incentives, “It sure helps that we have a Governor [in JB Pritzker] who is so focused on technology. The policy is very positive: pro-growth and pro-tech.
“We benefit from the academic institutions here, helping to train future generations of technologists and businesspeople. And most importantly, we have a really diverse talent base to draw from — we can build products that are inclusive for all kinds of people.
“It’s a great way to attract people to your organization. We find that Chicago really offers that, and throughout the broader state environment.”
Echoing the sentiments of Shana Kelley, “Illinois is a great market to get to geographically. The friendly business environment is well-connected and allows us to grow. That’s been a big win. O’Hare — the nation’s most-connected airport — is a phenomenal location, and I’m not sure I could do my job as well [anywhere else].”
More than a great location for scaling a business, Illinois is top tier in its quality of life. “As a company, it’s a really great place for your people to live. There’s something for everyone. And it’s an affordable lifestyle. I love the diversity of our cultural institutions; the food culture. It’s been a really great experience here.”
Jennifer F. Scanlon: UL Solutions Has Continued to Choose Illinois for 130 Years
A long-standing Illinois organization, UL Solutions “was founded in Illinois. Our history started at the World’s Fair in 1894, right here in Chicago, to help establish safety standards for the new technology of the day: electricity.
“Being in Illinois has always been valuable to UL Solutions. We’re in the center of it all: technology and innovation and a diverse set of industries. There is no single sector that dominates. Many sectors each have their own ecosystems that flourish because of connections to the universities, other companies, and Illinois’ diverse talent.”
UL Solutions has stayed in Illinois for 130 years because “we are in an ecosystem of innovation. Plus, when you’ve got Chicago and the culture and the lakefront and the ease of access from O’Hare, it makes it a vibrant community. It’s fun. We find that when our global employees — 15,000 from around the world — visit Northbrook or our downtown Chicago location, they are astonished by the vibrancy and the excitement of this town.”
By the Numbers: Illinois’ Political, Social, and Business Environments Support Women
With substantial backing in policy, tax-based benefits, and resources — plus an exceptional quality of life — women and their business thrive in Illinois.
- About 42% of Illinois small businesses are owned by women (DCEO 2024).
- Chicago is #2 in the U.S. for best cities to start a business, according to Entrepreneur.
- Since 2020, Governor Pritzker and Lt. Governor Julianna Stratton’s administration, the General Assembly, and DCEO have provided more than $190M in awards through Business Interruption and Back to Business Grants to Illinois WOBs.
- Through the Illinois Angel Investment Tax Credit Program, the State has invested over $20M in WOBs since 2019.
- In 2023, over 1000 WOBs were served by the Illinois APEX Accelerator.
- The amount in government contracts secured by Illinois WOBs, thanks to the help of the Illinois APEX Accelerator in 2023, totaled over $352M.
Are you a woman entrepreneur, founder, or business leader? Discover more about how Illinois is excited to support your business to scale. Get in touch with our team today.
Follow us on LinkedIn as we celebrate Women’s History Month all March long — highlighting more of our state’s incredible women business leaders.
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