From the beginning of the Great Recession in January 2008 through August 2014, Illinois is still down 157,100 payroll jobs, more than any other state in the U.S. Some sectors of Illinois’ economy have recovered completely, while others remain dramatically below pre-recession levels. Manufacturing and construction have had it the worst through the recession era,...
This article was written by Satta Sarmah and featured in Fast Company on September 26, 2014. When 30-year-old Chicago native Sheyla Jarocz talks about how a brick and mortar storefront survives in the city’s North Center neighborhood, it sounds like a lonely mission. “I’ve tried to do promotions with nearby businesses,” said Jarocz, who opened Maash Boutique two years...
New York lawmakers have acknowledged that low costs are beneficial to businesses, and that lower taxes mean more money, which leads to growth, innovation and hiring. The proof is the state’s START-UP NY program, which provides 10-year exemptions on property, sales and state income taxes to qualified new and expanding businesses. But while START-UP NY...
The problem Skyrocketing retirement costs for Illinois’ state and local government workers are wreaking havoc on governments’ ability to provide core services such as public safety, education and infrastructure. States and cities across the nation continue to struggle with massive pension and health-care costs, which force residents to pay higher taxes and fees to receive...
Chicago needs entrepreneurs. But too often, the city slows them down or chases them out of town. The “City that Works” doesn’t work for startups. A simple process is necessary so that startups in Chicago can get off the ground and start working, hiring and paying taxes. One good place to start is to make...
Unfortunately for taxpayers, June was a groundbreaking month for corruption in Illinois. In June alone, there were reports of 85 corruption-related stories in the state. Some of the record-breaking highlights include the following: For the first time in 33 years, the Illinois Legislative Audit Commission exercised its subpoena powers in the issuance of a subpoena...
Fireworks are a staple in America’s celebration of its Independence Day. But good luck buying any in Illinois. For yet another year, the Land of Lincoln is one of only eight states in the country that doesn’t allow the purchase of consumer fireworks. Illinois’ Pyrotechnic Use Act bans the sale, possession and use of those...
Today is the submission deadline for proposals to the Barack Obama Foundation, the organization tasked with accepting bids from various contenders vying for Obama’s future presidential library and museum. The competition as it stands is between Hawaii, New York and Illinois; where President Obama was born, where he received his undergraduate degree and where he...
The House Energy and Commerce Committee wants answers. According to a June 3 letter from committee leaders to U.S. Department of Health and Human Services Secretary Kathleen Sebelius, lawmakers are seeking details on how and why several state-run health care exchanges have failed. They want to know why the administration awarded more than $1 billion...
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.