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
Two sides, one city.
The industry giant’s move comes amid continued disinvestment in Illinois manufacturing.
In February 2012, Caterpillar’s then-CEO Doug Oberhelman outlined needed reforms to save Illinois manufacturing jobs. State lawmakers have failed to act, and the Land of Lincoln is the only state in the region to lose manufacturing jobs since.
The company’s announcement affects 800 hourly employees, though 1,200 workers will remain in Aurora. In January, Caterpillar announced plans to relocate its global headquarters to Chicago and out of its longtime hub in Peoria.
With Peoria and downstate reeling, the Caterpillar move comes at a time of persistent disinvestment in Illinois manufacturing.
Peoria-based heavy-equipment manufacturer Caterpillar has announced a possible move of up to 800 manufacturing jobs out of Aurora.
CAT announces more layoffs due to anticipated losses in 2017.
August records summer-high job losses, including 495 in manufacturing.
Insider says more manufacturing layoffs coming for the Illinois stalwart.
At the end of July, about 400 Illinois workers were notified that they might be losing their jobs in the next few weeks. Filings with the Illinois Department of Commerce and Economic Opportunity highlighted this number, which includes cuts at major companies throughout the state. According to the Chicago Tribune: Lake Forest-based Grainger Inc. said it...