Coles County ranked in top 20 in Illinois for small business support

The Charleston Area Chamber of Commerce reported in a press release on Tuesday that the county’s ranking has been determined by altLINE, a company that recently performed research on small business support in all 50 states.

Additionally, the Charleston Chamber reported that a recent national Chamber of Commerce report found that “the Midwest was the most business-friendly region thanks to the relatively low cost of living, well-educated workforce and…easing zoning restrictions for businesses.”

Charleston Chamber President and Chief Executive Officer Doug Abolt said he and Mattoon Chamber Executive Director Ed Dowd are pleased that Coles County achieved the top 20 recognition.

“The Chambers have long believed the area has been very supportive of our business community and it is great to have an unsolicited, third-party attest to that fact,” Abolt said.

Data in the altLINE report shows that Coles County has a total of 1,107 small business establishments, 23.7 per 1,000 residents, and that the share of establishments that are small is 99.7%

AltLINE used Census Bureau data to find the Illinois counties with the increased concentration of small businesses in 2021, calculated as small establishments per 1,000 residents. Small establishments are defined as those with less than 500 employees.

Counties with fewer than 1,000 residents were excluded from the analysis, as well as counties for which the Census Bureau did not have population estimates. Thus, only 50 of Illinois’ 102 counties were analyzed.

AltLINE stated that, “Although most of the nation’s small businesses are located in major metropolitan areas, those that are located in rural areas tend to be more stable — possibly due to loyalty from local residents…”

Abolt said the Charleston and Oakland Chambers, along with the village of Ashmore, launched a Shop Local initiative in the middle of the COVID-19 pandemic in 2021.

“It is great to know some of their past hard work continues to play an important part in (top 20) announcement,” Abolt.

Research shows that out of every $100 spent locally, an average of $78 stays there supporting the local economy.

Angela Griffin, president of Coles Together, an economic development organization for Coles County, said she is pleased but not surprised with altLINE’s findings.

“The report confirms what those of us on the ground have been seeing for some time,” Griffin said. “Dozens of new business starts have occurred over the past couple of years putting many Coles County residents to work and providing exciting career opportunities.”

Griffin said, “We are proud of the strong working relationships among the chambers, Coles Together, and city officials that create a supportive and friendly environment for business.”