Another Major Business Moves Out of Illinois

Another major business is moving its headquarters out of Illinois, adding to a growing list of well-known employers that have chosen to leave the state.

Do it Best Group recently announced that it will move True Value’s headquarters from Chicago to Fort Wayne, Indiana. True Value, a longtime Chicago-based hardware wholesaler, was acquired by Do it Best in 2024 after filing for bankruptcy.

The announcement marks the latest in a series of high-profile departures from Illinois. In recent years, major companies, including Caterpillar, Boeing, Morton Salt, and Citadel, have moved their headquarters out of the state, raising continued concerns about Illinois’ business climate and long-term economic competitiveness.

For many employers, the challenges of doing business in Illinois continue to grow. High taxes, rising costs, burdensome regulations, and uncertainty about the state’s future are making it harder for businesses to invest, expand, and create jobs. When businesses leave, it does not just impact corporate headquarters; it affects workers, families, communities, and the state’s overall economy.

Senate Republicans have continued to push for reforms aimed at supporting workers, encouraging investment, and helping businesses create and retain jobs in Illinois. Those proposals include:

• Senate Bill 3786 would create a Legacy Tax Credit for businesses headquartered in Illinois to encourage investment, job retention, and long-term economic growth.
• Senate Bill 3873 would make Illinois’ Research and Development Tax Credit permanent, giving employers more certainty as they invest in innovation and job creation.
• Senate Bill 3792 would eliminate Illinois’ income tax on tips, allowing service industry workers to keep more of their hard-earned money.
• Illinois should be a place where businesses want to grow and where families can build a future, but until Governor Pritzker and his allies take action to improve the business climate, reduce costs, and make Illinois more competitive, the state risks seeing more employers and opportunities move elsewhere.