Illinois sees surge in business losses, ranks second after California

Illinois is losing businesses at an accelerating rate, and the data confirms the trend is not slowing. In this presentation, attorney and CPA Chad D. Cummings analyzes the sustained outflow of companies from Illinois, the structural drivers behind that movement, and why states such as Florida and Texas continue to attract the same category of employer. The discussion explains how tax burden, regulatory complexity, and long-term fiscal pressures combine to create a cost structure that becomes increasingly difficult for businesses to absorb. It also examines why redomestication provides a legally sound method for relocating an existing company while preserving its EIN, contracts, credit history, and operational continuity, and why commonly suggested alternatives such as foreign registration, merger, and dissolution often create unnecessary risk and expense. Finally, the presentation addresses why timing matters, and why business owners must evaluate relocation decisions based on current conditions rather than assumptions that no longer reflect the economic environment. Learn more: https://www.cummings.law/redomestication/