Illinois’ June WARN report shows 600 mass layoffs for the state in June, with 44 jobs lost in manufacturing, an improvement over May’s 1,300 layoffs and 500 manufacturing job losses.
As Chicago’s population shrinks, Houston is set to overtake the Windy City as the third-largest city in America. Illinois’ slumping economy is a major reason for that, but the cities’ different zoning rules show how regulations can promote growth – or stifle it.
Taxpayers will shell out $36 million for Soldier Field in 2016, in addition to footing the bill for U.S. Cellular Field. And the city of Chicago is still pushing a plan for DePaul University that would cost an initial $55 million for a new basketball stadium.
The case against Facebook under Illinois’ Biometric Information Privacy Act raises questions about the protection of people’s most personal data, as well as the possibility of an explosion of lawsuits against companies that use certain biotechnology.
On the other end of the spectrum, Indiana ranked as best in the Midwest and No. 5 in the U.S., with Texas, Florida, North Carolina and Tennessee taking the top four spots. All of these states attract swarms of people in migration from Illinois, especially Texas, Florida and Indiana.
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...