Due to its poor financial health and lagging economy, Illinois carries unique economic and fiscal risks from a prolonged market downturn or recession. The state must act now to mitigate harm from COVID-19.View Report
Indiana has around half the population of Illinois. But its building new homes at a rate more than 60% higher.
Why is Illinois construction so weak? As it turns out, big government programs can’t paper over weak fundamentals.
Michigan nixed a law mandating inflated wages for public construction projects. The Prairie State should follow suit.
Illinois state lawmakers could stimulate employment and lower costs for overburdened taxpayers by repealing the state’s outdated prevailing wage law.
The state is borrowing millions to finance capital construction projects and information technology improvements. But Illinoisans continue to pay for the worst credit rating of any state in the nation.
Compared with Illinois’ pre-recession average, permits for new single-family and multiunit housing are down more than 60 percent.
Illinois lost jobs across several industries including construction, manufacturing, and professional and business services. The only employment category to see significant growth was leisure and hospitality.
Insurance premiums cost 20 percent of payroll for concrete construction workers in Illinois.