The State of Illinois used to be a leader in economic prosperity and job creation. Unfortunately, due to poor leadership in Springfield and an unfriendly business and regulatory climate, Illinois now ranks 48th in economic performance (Source: "Rich State, Poor States", ALEC-Laffer State Economic Competitive Index 2010). According to this same report, as well as other government data, Illinois ranks:
While Illinois continues to fall behind, our neighbors in Wisconsin and Indiana have raised the bar and are attracting employers and individuals from Illinois and across the country. Illinois, and the Chicagoland area in particular, have many business, educational, cultural and recreational advantages over much of the Midwest. But state politicians must ultimately realize that we do not live in a vacuum; and that when the cost to live and work in Illinois becomes detached from economic reality, alternative locations become real opportunities. Illinois' tax and regulatory environment needs to remain competitive, or we will continually lose some of our best companies and brightest individuals to other more friendly states.
- 47th in economic outlook
- 44th in GDP growth
- 37th in debt burden
- 36th in personal income per capital growth
- 48th in employment growth
- 48th in absolute domestic migration (over 637,000 people have left Illinois between 1999-2008)
- 7th highest in median property taxes paid on homes in 2009
- 11th highest in property tax burden per capita
- 6th highest in gas tax burden (approximately 39 cents per gallon)
- 1st in sales tax burden
- 8th highest combined state and average local sales tax rate at 8.22%
The long-term solution for Illinois is really quite simple:
Lower income, sales and property tax rates; responsible and efficient spending policies; a transparent and accountable government; and a business-friendly environment which empowers entrepreneurs, investors and workers instead of an ever-increasing government bureaucracy.