For the first time in 57 years, Belvidere doesn’t have workers finishing their shifts at the local auto plant. Jeep manufacturer Stellantis idled the plant indefinitely. It is one of the five biggest auto assembly plants in the world. In a city of 25,000, it’s a vital part of the local economy. The state has...
During the past five years, Illinois’ business tax climate has gotten worse while all neighboring states improved or held steady. Six companies this year said they are relocating, and the exodus may not be over.
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.
When people can’t find good job opportunities in Illinois, they are too often forced to leave. And to take their place, too few have enough confidence in the state to move in from elsewhere and build a future.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.