Paul Vallas: With the start of the new year, here is a sobering look at the state of Illinois
In late November, Gov. J.B. Pritzker proclaimed that Illinois was back attracting new employers and jobs and in the best position in many years to further boost its economy. He cited his successes in luring electric vehicle makers and suppliers to the state and suggested more is on the way, claiming the state’s course has sharply shifted to the positive since Gov. Bruce Rauner’s departure. Illinois may have moved beyond the divisive and chaotic Rauner years, but it is a state in deep crisis.
Let’s take a sobering look at the state of the state.
• Illinois’ population is not growing.
It was one of just three states in the country to shrink in population from 2010 to 2020, and the state’s loss of residents continued in 2021 and 2022.
• Illinois remains one of the least friendly states for residents in terms of taxes and one of the worst states for business.
A WalletHub study last year found that a typical Illinoisan faces a tax burden of 9.38%, placing the state ninth overall in the nation for the heftiest burden. Kiplinger’s tax friendliness reports rank Illinois in the top 10 of unfriendliest states for middle-class families.
Regarding its business climate, Illinois ranks third-worst in the nation, behind only California and New York, according to Chief Executive magazine’s Best & Worst States for Business survey for 2023.
• Illinois’........
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