A year after announcing the Mars Wrigley Confectionery project, the candy giant will scrap its plans to expand its Chicago presence and instead encamp in Newark, New Jersey.
The flood of biometric privacy litigation engulfing tech companies and employers should make the General Assembly think twice before passing new regulations that could increase costs and compliance burdens for companies.
The state’s combined incentives package will reportedly include $1.4 billion in EDGE tax credits, $450 million in improvements, $250 million in new education and workforce programs, and more.
The stunning data underscore an important point as power shifts to Governor-elect Bruce Rauner: Illinois cannot raise taxes on a population that is shrinking due to massive numbers of people leaving.
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.