Your complete guide to business transactions in Northern Illinois' largest city. Manufacturing heritage, healthcare growth, and affordable opportunities.
Rockford, the largest city in Northern Illinois outside of the Chicago metro area, has a rich manufacturing heritage that continues to drive its economy today. The city has successfully diversified into healthcare, aerospace, and logistics while maintaining its industrial base.
With major employers including Collins Aerospace, Mercyhealth, and SwedishAmerican Hospital, Rockford offers a stable employment base. The city's affordable cost of living, proximity to Chicago (90 miles), and access to I-90 make it attractive for businesses serving regional and national markets.
| Metric | Value |
|---|---|
| Population | 148,655 |
| Total Businesses | 6,800+ |
| Average Business Sale Price | $245,000 |
| Median Time to Sell | 12 months |
| Top Industries | Manufacturing, Healthcare, Retail, Restaurants, Auto Services |
| Region | Northern Illinois |
Rockford's diverse economy and affordable market create opportunities for sellers across multiple industries:
Rockford offers excellent value for buyers seeking established businesses at accessible price points:
Yes, Rockford's manufacturing sector remains strong, particularly in aerospace and precision manufacturing. Companies like Collins Aerospace continue to invest in the region, and the skilled workforce makes it attractive for manufacturing businesses.
Rockford businesses typically sell at 30-40% lower absolute prices than comparable Chicago businesses, making it an attractive market for buyers seeking value. Valuation multiples are similar, but lower revenue bases result in more accessible acquisition prices.
Rockford offers various incentives including TIF districts, enterprise zones, and workforce training programs. The Rockford Area Economic Development Council can help identify programs applicable to your business acquisition.
Get expert guidance for your Rockford business transaction.