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State of Illinois

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State of Illinois Research

Opportunities: * Taking first steps to economic reform. Illinois has yet to make changes and pass legislation to improve work force opportunities. Right now there is low hanging job solutions that could be achieved through basic legislation. Reduce states corporate tax which is 4th highest in industrial world. Has the 9th most costly regulatory burden nationally and the second highest in start up fees for LLC. * Cutting and control spending. Use Wisconsin as model for success. Others will similar constraints have been successful and have a road map for the State of Illinois to use. * Second most disliked state in the nation. No room to fall, only room to improve. Do not have to worry about offending the masses because the population is sick and tired of the current state and are looking for change. * Midwest is desirable, as seen by neighbors. Real estate is 12% of the state GDP, and a good foothold for growing GDP, once reforms are in place and companies are brought back into the state. This specific sector can grow. * Infrastructure is there: airport that is well connected and is hub in the Midwest. Public transportation. * Problems can be fixed, not inherent to the land or the region. There are decisions that can and need to be made. * Chicago was once a desirable town. Can be transformed * Great lakes, tourist attraction. * Professional services *

Threats: * Indiana and Michigan are now Right-To-Work states. * Dakotas opened the states up to energy production * Nonfarm payrolls in neighboring states increasing while Illinois continues to go down * Indiana is lowering the corporate tax rate every year, with a goal of 4.9% by 2022, making it the lowest corporate tax rate in the nation. In addition, local governments have the option to reduce corporate property

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