Pension costs for state government workers reached an all-time high in 2016, consuming 25 percent of the state’s general budget.1 Today, more than $8 billion of the state’s yearly $32 billion budget goes to pay for pension costs, sapping tremendous amounts of money from social services for the developmentally disabled, grants for low-income college students, and aid to home...View Report
The car manufacturer is going to bring more than 1,000 jobs to Normal, Ill., after being offered $49.5 million in state tax credits and more in local tax credits and abatements.
Illinois continues to have the worst jobs growth in the region, and tax hikes will only make matters worse.
With Peoria and downstate reeling, the Caterpillar move comes at a time of persistent disinvestment in Illinois manufacturing.
Illinois lost 11,000 manufacturing jobs in 2016.
The status quo isn’t working for Illinois; the state needs serious reforms to get its spending under control, pay down its debt, and rein in the taxes that are driving its people across state lines.
New Illinois jobs data reveal a state with thousands of job losses, unemployment rising to 5.7 percent, a collapsing manufacturing sector, and several downstate communities sliding back into recession — all of which make the Illinois Senate’s new tax hike proposal especially harmful.
Nippon Sharyo points to prototype difficulties and unspecified business concerns as the main reasons behind the layoffs.
The company plans on moving its white-collar workforce to Naperville, while keeping its manufacturing plant in Michigan.
Peoria-based heavy-equipment manufacturer Caterpillar has announced a possible move of up to 800 manufacturing jobs out of Aurora.
After receiving incentives and abatements guaranteed by state and local taxpayer dollars, Amazon announces two new facilities in Aurora.