The Illinois Department of Commerce and Economic Opportunity (DCEO) gave over $83,000 in grants for costs associated with the production and showing of a film about Daniel Burnham.
In recent weeks there has been a lot of bad news surfacing for taxpayers when it comes to the Metropolitan Water Reclamation District of Greater Chicago.
The Illinois Department of Commerce and Economic Opportunity (DCEO) gave $50,000 to promote awareness of Chicago and Illinois in the Republic of Ireland.
The Problem The State of Illinois spends around $50 million per year on tourism. Revenue from the Hotel Operators’ Occupation Tax, which is 6 percent of 94 percent of gross rental receipts, funds tourism spending. Revenue from the hotel tax also goes towards the Build Illinois Fund, the Illinois Sports Facilities Fund, and the General...
Rather than giving special benefits to a few specific tourist attractions, Illinois needs to consider new avenues for attracting tourists, such as decreasing the cost of visiting Illinois by lowering taxes.
Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...