From Crain’s Chicago Business | Sales tax receipts throughout the metropolitan area increased in 2010, according to the Illinois Department of Revenue, signaling the first rise in retail spending since 2008. Overall, sales tax revenue in the six-county area advanced 3.4 percent to $7.46 billion last year. Get the full story>>
Inside these posts: State of Illinois
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Illinois jobless rate dips to 8.8% in March
Illinois’ unemployment rate fell to 8.8 percent in March, improving for the 14th consecutive month, the Illinois Department of Employment Security said Thursday.
The March rate was down one-tenth of a percentage point from February and is the lowest jobless rate since February 2009, when it was 8.6 percent. Get the full story »
Illinois’ top court forms foreclosure commission
The Illinois Supreme Court on Monday announced the formation of a special committee to investigate the fairness of mortgage foreclosures in Illinois and perhaps change the rules that govern the process. Get the full story »
Illinois businesses to see tax increase in 2012
Starting next year, Illinois businesses will see a tax increase and the recently unemployed will lose a week of jobless benefits, according to a compromise bill passed earlier this month in the Illinois Legislature. Get the full story »
Ill. House may scrap workers’ compensation
Illinois Rep. John Bradley. (AP Photo/Seth Perlman)
The Illinois House is considering a plan to scrap the state’s much-criticized workers’ compensation system. That means workers and employers would have to battle in court over each injury and whether the worker should be compensated.
Legislation ending the system was given tentative approval Thursday. Rep. John Bradley says he plans to hold a final vote as soon as possible. Get the full story »
Illinois looks for savings in currency trades
William Atwood, head of the $11.2 billion Illinois investment board, has taken a crash course in discovering his portfolio’s currency-trading costs — and he doesn’t like what he sees.
A consultant said his fund paid $2 million more than the average of other institutional investors on currency transactions during most of last year. When Atwood tried to figure out the costs on his own, he received a two-foot-high stack of trading documents he didn’t know how to interpret. Get the full story »
Caterpillar CEO, Quinn meeting today
Gov. Pat Quinn plans to talk to the head of Caterpillar Inc. about Illinois business climate, countering the efforts of other states to lure the company away. Quinn and Caterpillar CEO Doug Oberhelman are scheduled to meet Tuesday morning. Get the full story »
College Illinois halts new investments
From Crain’s Chicago Business | The state agency that runs the College Illinois prepaid tuition program is putting all new investments on hold as it confronts mounting questions over its unconventional strategies for the fund that backs the college savings of 55,000 students. Get the full story>>
FatWallet.com leaving Illinois for Wisconsin
From the Chicago Sun-Times | Rockford-based FatWallet.com, an online partner of Amazon.com and Overstock.com, is leaving Illinois for Wisconsin after losing business ties with major online retailers since Gov. Quinn signed of the “Amazon.com tax” earlier this month. Get the full story>>
State Farm CEO: Biz must address state spending
State Farm Insurance CEO Ed Rust Jr. says business leaders should inject themselves into the debate about “unchecked” government spending and borrowing. Get the full story »
Caterpillar threatens to leave Illinois over taxes
Caterpillar Inc., suggesting that it could shift jobs out of Illinois, is prodding its home state to cut government spending and roll back tax increases.
Doug Oberhelman, chief executive officer of the giant Peoria-based maker of construction and mining equipment, protested against the state’s tax and spending policies in a March 21 letter to Illinois Gov. Pat Quinn, a Democrat who took office in January 2009.
“I want to stay here,” the letter said. “But as the leader of this business, I have to do what’s right for Caterpillar when making decisions about where to invest. The direction that this state is headed in is not favorable to business, and I’d like to work with you to change that.” Get the full story »
Illinois officials tout high-speed rail construction
Gov. Pat Quinn and U.S. Sen. Dick Durbin greet workers at the Amtrak Rail Yard. (Michael Tercha/Tribune)
The next phase of construction on a high-speed rail route between Chicago and St. Louis will begin next month, a high-stakes transportation project similar to those that other states have rebuffed, Illinois Gov. Pat Quinn and U.S. Sen. Dick Durbin announced Tuesday.
“Illinois has always been a strong railroad state and we always will be,“ Quinn said at an Amtrak rail yard near downtown Chicago. Get the full story »
Groupon hosts 1st Ill. Innovation Council meeting
Groupon's headquarters at 600 W Chicago Ave. (Brian Cassella/ Chicago Tribune)
Popular daily coupon website Groupon’s Chicago headquarters was the site of the first meeting of the Illinois Innovation Council. Gov. Pat Quinn’s office says the Monday meeting focused on where Illinois can be a hub for innovation and where Illinois is an emerging leader, like clean energy, biotech and life sciences and information technology. Get the full story>>
Chicago business group pushes back at Wisconsin
A Chicago pro-business group that pushed back at New Jersey’s efforts to steal Illinois business is now setting its sights on Wisconsin.
The latest shot by the new group, For a Better Chicago, is in the form of print ads in Wisconsin much like those taken out in New Jersey a couple of weeks ago. Governors in both of those states tried to lure away businesses after Illinois lawmakers in January raised state income taxes on individuals and corporations.
Ill. to connect online retailers with new partners
Amazon dropped its Illinois business affiliates last week. (AP Photo/Paul Sakuma)
The Illinois commerce department will try to find new partners for businesses that previously sold products through Internet retailers like Amazon.com and Overstock.com. Amazon and Overstock plan to drop Illinois-based affiliates this spring to allow them to avoid collecting sales taxes under a new law that applies to Internet businesses that team up with Illinois partners. Get the full story »
