Illinois’ public universities have reached a 10-year high in enrollment, with notable gains among freshmen and African American and Latino students. For the business community, this is particularly good news. When more students choose to pursue degrees here, Illinois’ workforce grows stronger and more diverse, the talent pipeline expands, and state and local economies prosper.The continued upward trend in enrollment at state universities is no accident. It is a direct result of deliberate investments in the state’s higher education system and strategic policy initiatives over the last seven years. Following decades of disinvestment and a historic budget impasse that hit our public universities particularly hard, Gov. JB Pritzker and the General Assembly have increased operating support for public universities by $225 million and expanded financial aid by $345 million. They also adopted policies that made Illinois a top five state for FAFSA completion, which brings in greater federal resources. Now, more Illinois students can afford college and are choosing to stay here for their education and ultimately, for their careers.The economic benefits of these policies and investments are clear. Places with higher shares of college-educated workers are associated with higher wages, higher productivity, increased innovation, lower unemployment, and better life outcomes. Likewise, as the diversity of our student population expands, so does the state’s competitive advantage. Research consistently shows that diverse teams perform better, innovate faster, solve complex challenges more effectively, and drive better business outcomes. In a global economy, companies need employees who bring a range of perspectives and experiences to the table. Cultivating that kind of workforce is why more than 30 Fortune 500 companies are headquartered in Illinois.A stable, growing base of college students doesn’t just serve existing employers, it helps Illinois attract new ones. Site selection teams look first at a state’s workforce capacity, and there’s a reason Illinois has been ranked the number two destination for corporate expansion and relocation for three years in a row. Employers need to be confident that a location can provide adequate talent to meet their current and future workforce needs. Illinois’ increasingly strong fiscal position, buoyed by 10 credit upgrades, combined with strategic investments in higher education and growing student enrollment give that assurance and help create an enticing atmosphere for firms looking to expand or relocate. We’ve seen this in action in Manteno with Gotion, in North Chicago with AbbVie, and in Chicago with multiple companies announcing their presence at the Illinois Quantum and Microelectronics Park.Our universities are stepping up as well, forging partnerships that tie academic training directly to workforce needs. The University of Illinois and their Discovery Partners Institute’s Pritzker Tech Talent Labs has forged partnerships with companies like Health Care Service Corporation and CIBC to provide upward career mobility for young tech talent.  Chicago State University’s collaboration with the National Quantum Algorithm Center will position Illinois as a leader in quantum technologies and give students access to a rapidly growing sector. Northern Illinois University’s partnership with Amazon brings the Amazon Career Choice program to the NIU campus, allowing employees to upskill into degrees and industry-recognized credentials while helping meet industry needs. Southern Illinois University–Carbondale’s partnership with Illinois-based United Airlines provides aspiring pilots with mentorship, hands-on training, and a secure path to the United flight deck.It is no coincidence that Illinois leads the Midwest in new business creation. With more than 3.2 million residents holding a bachelor’s degree or higher and with universities expanding their reach to more students, businesses know they can start, scale, and stay here with confidence.We know that our workforce is our most valuable asset, and investing in public universities is an investment in Illinois’ youth and the future workers they will become. Illinois is charting a course rooted in economic opportunity and workforce strength. As business leaders, we should champion these gains and continue supporting the institutions that help power our economy.

Jack Lavin is president and CEO of the Chicagoland Chamber of Commerce.