Workers’ compensation is a significant cost to Illinois taxpayers and drains scarce tax dollars from government coffers. A previous report in this series estimated the direct cost of workers’ compensation to state, county and municipal governments is $402 million in worker payouts per year.1 Building upon those findings, this report estimates that the total cost of workers’ compensation to...View Report
Insurance premiums cost 20 percent of payroll for concrete construction workers in Illinois.
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.
State and local costs for workers’ compensation are out of line with what other states pay.
There are 170,000 fewer people working in Illinois since before the Great Recession.
In the last decade, Illinois’ economy and the economies of neighboring states have gone in opposite directions, with more people now working in Wisconsin and Indiana combined.
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.
The small sheet metal fabricator will move from its current facility in Antioch, Ill., to an 8-acre location in Bristol, Wis.
While the gummy bear maker’s American headquarters is located in Rosemont, Haribo has opted to build right over the border in Kenosha County, Wisc.
Physician-dispensed drugs account for more than 60 percent of the cost of prescriptions covered by workers’ comp in Illinois.