Illinois Business Formation Record Dismay for Last Three Years

From the Illinois News Network:

Wisconsin state official highlights state economy in comparison to Illinois

Wisconsin’s top economist is using Illinois as an example to highlight how well Wisconsin’s economy is doing.

John Koskinen is the chief economist for the Wisconsin Department of Labor. In a speech earlier this month for the Wisconsin Manufacturers and Commerce Policy Day, he used Illinois’ economy in a comparison with Wisconsin’s to show how well they’re doing.

Using federal labor numbers, he said nearly every county in Wisconsin has seen the number of new businesses operating grow by at least two percent over the last three years. Illinois, on the other hand, didn’t fare as well.

Illinois shows not business growth in any county over the last three years.

“It didn’t have one county with additional businesses three years on,” he said to a crowd audibly reacting to the slide clearly showing the shape of Illinois without its borders lineated.

The three years included in the graph are politically significant. Gov. Bruce Rauner, a pro-business Republican, ran a campaign on making Illinois more conducive to businesses. He vowed to bring companies and people back to Illinois, which had been bleeding both. In his campaign for re-election he’s often blamed House Speaker Michael Madigan for blocking the reforms he’s tried to implement.

One thing that Illinois has been steadily sending to Wisconsin is residents.

“The biggest destination for people leaving the state of Illinois is Wisconsin,” Koskinen said, using 2016 Census migration data.

Under Republican Gov. Scott Walker, Wisconsin’s tax structure, a major draw for businesses, is lower than it has been in five decades.

Illinois does, however, beat Wisconsin in average wage and education levels of its residents, the latter often seen as a draw for businesses looking to relocate to an area with an educated and skilled workforce.

One thing that Illinois has been steadily sending to Wisconsin is residents.

“The biggest destination for people leaving the state of Illinois is Wisconsin,” Koskinen said, using 2016 Census migration data.

Under Republican Gov. Scott Walker, Wisconsin’s tax structure, a major draw for businesses, is lower than it has been in five decades.

Illinois does, however, beat Wisconsin in average wage and education levels of its residents, the latter often seen as a draw for businesses looking to relocate to an area with an educated and skilled workforce.


Comments

Illinois Business Formation Record Dismay for Last Three Years — 6 Comments

  1. Bet you won’t be hearing anything about this on any of
    Fake News Networks in Chiraqland.

    There will be NO economic recovery for the Sanctuary State Of Illinois
    in our lifetime or that of our children and grandchildren.

    No less than four homes for sale on my block alone as of today,
    and more planned ASAP for the families wanting out.

    Yes, Illinois is going the way of Sears and KMart, and that is an undeniable fact.

  2. **Under Republican Gov. Scott Walker, Wisconsin’s tax structure, a major draw for businesses, is lower than it has been in five decades.**

    That’s funny… because WI and IL have the exact same state/local tax burden (a a % of income)!

    And this is according to the very conservative TaxFoundation.org: https://files.taxfoundation.org/20180411102900/Facts-Figures-2018-How-Does-Your-State-Compare.pdf

    And from that SAME report, IL had a BETTER business tax climate than WI.

    And IL actually collects LESS state taxes than WI does.

    And collects less state revenue per capita than WI.

  3. California and is low taxes, low regulation environmental sure looks bad.

    Oh wait…

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