Rauner began laying out priorities for his first year in office, saying property taxes and workers’ compensation costs are too high, Medicaid spending is unsustainable and state workers’ salaries and benefits are too generous.
Deere & Co. announced Friday that it will lay off more than 900 employees in Iowa and Illinois as the Moline-based agricultural equipment maker continues to align production with a decreased market demand.
U.S. Steel says it is closing its plant in southern Illinois and laying off 176 workers. A company spokeswoman said the Granite City steel mill's two coke ovens are more than 30 years old and are no longer efficient enough in the current market.
As the Democrat-controlled Illinois legislature and Gov. Bruce Rauner gear up to tackle the state's fiscal problems, including a multi-billion budget deficit, mental health advocates are warning against further cuts to community-based services.
Every once in a while, government in Illinois actually gets smaller. One recent example revolves around the Wildlife Prairie State Park, which will drop “State” from its name and will be run by the Forest Park Foundation of Peoria, a private, nonprofit group.
Illinois has used the Economic Development for a Growing Economy, or EDGE, Tax Credit Act to dole out nearly $1 billion in tax credits to businesses since 2001. The Liberty Justice Center filed a lawsuit on Jan. 9 on behalf of Illinois taxpayers against the DCEO to stop the state agency from granting tax credits in excess of statutory limits.
University of Illinois announced that AbbVie, a global research-based biopharmaceutical company based in North Chicago, IL, has opened the AbbVie Innovation Center on campus at the University of Illinois Research Park in Urbana-Champaign.
As the Illinois Policy Institute points out, many local cities have extensive ``home rule'' powers that allow them a lot of latitude in setting up rules and regulations for business. The Institute recently released a report that gave examples of what local governments can do to encourage business development and help build their own economies.
Governor Pat Quinn before he left office signed off on an amendment that created a new state eavesdropping law. It took effect December 30, putting an end to a period in which Illinois was the wild west of surreptitious recording, with no state eavesdropping restrictions at all.
If after 30 years of Madigan as speaker, Illinois government had balanced budgets, served the public’s needs effectively and efficiently and was debt-free, that would be equally as impressive as Madigan’s long reign. But as we all know, that is not the case.
Illinois’ Department of Revenue has new rules this year to target the collection of sales taxes from out-of-state businesses. The new rules that took effect Jan. 1 expand the definition of out-of-state retailers that must register in Illinois and collect sales taxes.
Five CEOs, founders and executives gave their thoughts on the future of Chicago tech. They were optimistic on the future of Chicago tech, seeing the industry overcoming even its biggest challenges in 2015.
Comment: But if the state statute now on appeal is upheld, validating the "police power" defense that the state is too broke to pay the pensions, we won't know where courts would draw the line on that defense for the city. Separate trials will be needed to determine how large a pension obligation is too much. In addition, the statutes passed for the city pensions would barely dent the problem even if upheld in full.
As the Obamas and their foundation near a decision on the location of the library — after narrowing the options down to Hawaii, Chicago and New York City — someone in their camp recently let it slip that they are not so pleased with Chicago’s bids.
Therein lies the controversy of "parking dibs." Some feel the inconvenience of clearing a spot on the curb grants them a license to call dibs, holding the space open with chairs and assorted debris while they're not using it.
Instead of fighting for more government involvement, drivers would be better served by separating themselves from a city that has done nothing but cut into their earnings and restrict their profession.
Includes financial transactions tax, commuter tax and immediate $15/hour minimum wage. In other words, the plan is to aim gun at head and fire. No mention of the 'P' word -- pensions -- which are the core of the crisis.
A joint City Council committee on Wednesday passed a proposed ordinance expected to expand affordable housing and make it more costly, in most cases, for developers to avoid regulations that require them to provide such shelter in new projects.
Chicago mirrored a strong national trend, with Windy City VCs raising nearly $80M MORE last year than they did the previous three years combined. According to the NVCA, Chicago hit just over $620M in 2014, up from $192M in 2013, $131M in 2012, and $215M in 2011.
Comment: He's in La La Land. No mention of the pension and budget crises that are paramount for Chicago and all levels of government that overlap it. An emergency insolvency plan should be the central agenda.
Prescient Edge LLC is moving its headquarters to a new facility in One Prudential Plaza. The global security and technology company is expected to bring 60 jobs to Chicago initially and add hundreds of new jobs in coming years, according to the mayor's office.
Cvent's ranking of the nation's top 100 meeting hotels shows some of Chicago's biggest convention hotels have plummeted in popularity since last year's rankings and since the city was rebranded as "Chiberia" last winter.