Illinois Treasurer Reports 66% Increase in Small Business Spending

SPRINGFIELD – Illinois State Treasurer Michael Frerichs’ office increased its spending with small businesses by 66% in fiscal year 2026, totaling more than $2.2 million. The office spent $2,235,433 on contracts and purchases with small businesses during the fiscal year ending June 30, compared to $1.35 million in fiscal year 2025. Small business purchases accounted for nearly 10% of the office’s total spending of $24.15 million. The annual report outlines efforts to increase small business participation through contracts reserved for smaller companies and pricing preferences. The report is required under state procurement rules and covers the period from July 1, 2025, through June 30, 2026.