One of the state’s biggest employers is relocating their headquarters to Irving, Texas. A decade ago Caterpillar’s CEO warned state leaders of business losses unless they balanced the budget, controlled workers’ comp costs and cut taxes. He was ignored.
Illinois lost more than 100,000 residents and $8.5 billion on net in adjusted gross income to other states from 2019-2020, according to new federal tax return data. Those leaving earned $31K more than those coming in.
A Census survey intended to estimate the accuracy of the 2020 Census is being used to project an Illinois population increase. While there may be more Illinoisans than originally thought, that does not mean they aren’t leaving at an accelerating pace.