Tax Dollars Should Be Spent on Broad-Based Investments, Not Corporate Subsidies

Illinois has spent at least $4.9 billion in state and local business subsidies since 2000, after adjusting for inflation. This equates to $288.5 million per year. While these subsidies have saved or created some jobs in the state, Illinois could have created even more jobs and more economic growth if tax dollars had instead been invested in public infrastructure and public education.

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Illinois Has Doled Out $5 Billion in Corporate Subsidies Since 1985

Since 1985, state and local governments in Illinois have doled out at least $5 billion in economic development subsidies.  In particular, three companies have received over $900 million from Illinois taxpayers: Sears, Mitsubishi Motors, and Motorola.  In these three cases, employment eventually fell and plants even closed despite the massive amounts of money provided.  Continue reading “Illinois Has Doled Out $5 Billion in Corporate Subsidies Since 1985”

Education and Infrastructure Grow the Economy. Other Proposals Being Debated in Illinois Don’t.

With the State of Illinois finally having a new budget for the first time in two years, the Project for Middle Class Renewal at the University of Illinois at Urbana-Champaign and the Illinois Economic Policy Institute evaluated the economic research on policy measures currently under consideration by state lawmakers.

The full report is available here: Public Policies That Grow the Illinois Economy: An Evidence-Based Review of the Current Debate Continue reading “Education and Infrastructure Grow the Economy. Other Proposals Being Debated in Illinois Don’t.”

ILEPI Testimony on the Potential IDOT Shutdown

If Illinois’ state budget crisis is not resolved by June 30, 2017, all existing Illinois Department of Transportation (IDOT) road, bridge, and transit projects will be stopped.

Yesterday, Frank Manzo IV, Illinois Economic Policy Institute (ILEPI) Policy Director, testified before the Illinois General Assembly. Please CLICK HERE to read the full testimony. The following is an edited version of the testimony.

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10 Reasons Why Peoria Remains a Great Place to Do Business

The Union-Business Case for Firm Relocation and Investment in Illinois and Peoria is available here.

In April 2016, the Project for Middle Class Renewal at the University of Illinois at Urbana-Champaign and the Illinois Economic Policy Institute jointly released an economic commentary outlining the top ten reasons for a business to locate to the Peoria area in Illinois. The report, which was originally limited to the Peoria area, is now available to the broader public.

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Illinois Unemployment Fell, But Job Growth Was Slow Over Past Year

In Friday’s release on state employment and unemployment, there are both positives and negatives for Illinois. On the positive side, Illinois had the 4th-largest decline in the unemployment rate over the past year and now has a lower unemployment rate than states like Georgia, Texas, and California. On the negative side, Illinois had the 9th-worst job growth over the year.

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