While J.B. Pritzker has not released a detailed tax plan of his own, reasonable cost estimates suggest the tax hike required to pay for the candidate’s spending promises would require doubling Illinois’ state income tax rate and cost the state an estimated 132,000 jobs and $31.3 billion in forgone GDP.View Report
Amazon’s team will visit 10 proposed sites in Chicago for its second North American headquarters.
The state’s combined incentives package will reportedly include $1.4 billion in EDGE tax credits, $450 million in improvements, $250 million in new education and workforce programs, and more.
Amazon’s plans to hire 50,000 workers at the new headquarters would single-handedly shift the city and state’s economic landscape.
Chicago Mayor Rahm Emanuel reportedly spoke with Amazon CEO Jeff Bezos to lure Amazon’s second headquarters to Chicago.
Amazon announced plans to open another Illinois shipping facility in Crest Hill, Ill., which is expected to create up to 800 jobs.
The Romeoville fulfillment center is one of several Illinois facilities Amazon has opened or plans to open in the coming years. For some of those locations, Amazon has signed deals with the state of Illinois worth tens of millions in potential tax credits.
In exchange for more than $112 million in tax breaks, Amazon promised to expand its Illinois operations and hire 7,200 new employees in Aurora, Monee and Joliet.