Chicago Tribune business columnist Paul Rosenthal has writes some truths today about the Illinois business climate that the Democrats running Illinois should, but won’t listen to.
“Here is Illinois, where the lengthy list of benefits for business is matched by an equally long collection of liabilities, there’s reason to fear we’re at least as vulnerable to get a Dear John Inc. letter [as California, which Toyota just told would be moving its headquarters to Texas].
- governmental dysfunction
- fiscal concerns and
- ever-changing tax schemes,
along with protections for its citizens that businesses don’t face in other states…
“What do you do when there’s nothing to do?
“Illinois has an unwise habit of trying to throw incentives at companies that threaten to leave rather than work to make the environment better for all companies here–or those thinking of coming here–and rely on on the state to sell itself.
“Not everything businesses want from a state is a great idea to give, but parceling out gifts on a piecemeal basis only upsets everyone else…
“By [Illinois Manufacturers Association CEO Mark] Denzler’s estimate, the last major manufacturer to locate in Illinois was the carmaker Mitsubishi, and that was in the 1980’s when Jim Thompson was governor…”
And, I would point out, Illinois taxpayers paid a big “bribe” to get Mitsubishi to move to Bloomington.
Rosenthal points out that Caterpillar, whose CEO graduated from Woodstock High School, could pull up stakes at any point.
Its finance folks are already in Tennessee and Cat hasn’t built a plant in Illinois in decades.
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In other depressing news for Illinois, Michael Lucci reports on Illinois Review that the state is losing more people than it is drawing.
Worse still, those moving out “earned $55,000 per year, while the average taxpayer who entered Illinois earned $49,000 per year.”
After the 1980 Census the state’s demographer wrote a scholarly paper in which he argued that the ratio of tax dependents to taxpayers in Chicago was too high to save the city, that the main question was whether the rest of Illinois could be saved.
The censors in the Governor’s Office would not allow it to be published in the form it was written.