Illinois’ dismal business climate continues to inhibit jobs growth, especially in manufacturing, as the state put 25 people on food stamps for every factory job created during the recovery from the Great Recession.
Indiana and Michigan laid the framework for a manufacturing and jobs recovery. Until politicians in the Illinois General Assembly get serious about pursuing real reforms, the state’s jobs climate with continue to decline.
Since the January 2011 tax hikes, Illinois’ recovery slowed down, the rest of the Midwest sped up and the rest of the U.S. significantly accelerated. The Great Lakes states performed in lockstep with how well they fostered the free-enterprise system.
Illinois’ manufacturing sector has been hemorrhaging jobs for decades, and policy has a lot to do with it. Since 2004, Illinois has lost 125,000 manufacturing jobs. Most of these losses resulted from the Great Recession – a colossal 117,000 manufacturing jobs were shed from January 2008-January 2010 – but precious few have returned. In the...
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.