Saturday, Apr 19, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Recent Comments

yesqcy - Firefighters and Bus Drivers contracts to go to City Council - Quincy, IL News - QuincyJournal.com
Dave you are 100% wrong, there's always been someone in charge of employees. In not Spring fan by any stretch, but that's exactly what I mean when I say being blinded by one sided politics just opens you up to being screwed by a party you thought you could trust. Everyone needs to open their eyes and think independently. Unfortunately Moore pays the good ole boy system as well as the best…
AYHSMB - Firefighters and Bus Drivers contracts to go to City Council - Quincy, IL News - QuincyJournal.com
To quote the first Chicago Mayor Daley, when confronted with accusations of nepotism; "What kind of man would I be if I didn't look out for my kin?"
AYHSMB - Voter rights, crime victim rights amendments set for fall ballot so far - Quincy, IL News - QuincyJo
With all due respect, this article has nothing to do with poor people with disabilities. It's about making a specific law, that will be called upon (by Democrats) every time voter "suppression", no matter how insignificant or innocent, occurs, and will be held up to show how Republicans and/or conservatives are trying to disenfranchise voters. All the while the illegal voting will continue, by…
AYHSMB - Voter rights, crime victim rights amendments set for fall ballot so far - Quincy, IL News - QuincyJo
beaky- I knew that! O.K. In the State of llinois, one is given the opportunity, FREELY, and FREE of charge, because of public education, to obtain a drivers license, by way of drivers education. ALL students are advised that this not only prepares them as a driver, but also allows then to REGISTER TO VOTE at the DMV when they turn 18, and to BECOME AN ORGAN DONOR. (Both of these are near and dear to…
AYHSMB - Voter rights, crime victim rights amendments set for fall ballot so far - Quincy, IL News - QuincyJo
No. There are no reasonably searchable records kept of specific violations, only wikipedia "middle-of-the-road" stats, that are purposely vague.

Most Popular

Two die in overnight house fire Updated

Man arrested following south side stabbing

Petroleum Marketers, C-Stores, fight proposed Illinois gas tax hikes Updated Video

City department heads attempt to justify budgets to aldermen

Adams Co. Divorces for April, 18 2014

Fowler man arrested for meth possession

Home Builders, Illinois House look to weaken Fire Marshal authority

Firefighters and Bus Drivers contracts to go to City Council

Are Illinois’ $1.5 billion in tax giveaways working?

2 months, 1 week ago by Ben Yount, Illinois Watchdog

Illinois’ economic development office insists its numbers show tax incentives do indeed work and produce jobs

Illinois is two months into an ongoing investigation over whether $1.5 billion in tax breaks and tax incentives are working.

The answer is definitively indefinitive: We don’t know.

“I have not seen anything that, verifiably, show these things work,” said state Rep. Jack Franks, D-Woodstock, in charge of one of two statehouse committees investigating the incentives.

But Illinois’ economic development office insists its numbers show tax incentives do indeed work and produce jobs.

The numbers from the Illinois Department of Commerce and Economic Opportunity claim tax incentives helped create 4,671 jobs and bring in business investments worth nearly $3.7 billion in 2012.

Franks isn’t buying it.

“DCEO (argues) somehow there is a 4 /12-time return on investment,” Franks said. “But two weeks ago they argued it was an eight-time return on investment.”

Franks said it’s not just that numbers change, but even the state’s success stories aren’t all that successful.

“Even though DCEO has given 770 economic incentives contracts, less than 300 of them have ever been fulfilled,” Franks said. “And very few go to the vast majority of our businesses. Ninety seven percent of our businesses are 20 employees or less, and less than 10 percent of those companies have (gotten an incentive).”

Categories of tax breaks vary, from manufacturers who buy new machines to retail stores that collect sales taxes to big companies that want special treatment to move to Chicago. If they don’t work for most businesses in Illinois, then who do they work for?

Ted Dabrowksi, vice president of policy for the Illinois Policy Institute, said the select few companies with enough clout to get a sweetheart deal are beneficiaries.

“If a company is receiving hundreds of millions of dollars in benefits, sure it’s working for them,” Dabrowski said. “But we have to ask he question: ‘Who is paying for that?’.”

The Illinois Legislature’s Commission on Government Forecasting and Accountability said taxpayers ultimately foot the bill.

“With over $1.15 billion in business-related tax expenditures currently offered, the cost of these job-enticing dollars are significant,” a COGFA report on tax incentivesstates. “The difficult question becomes, are these tax incentives really worth the cost?”

Franks has doubts.

“The only reason we should be having these incentives for businesses is to create jobs,” Franks said.

Illinois Gov. Pat Quinn’s administration insists the state is creating jobs.

“We are a net importer of jobs,” DCEO director Adam Pollet told lawmakers Wednesday. “We gained 1,400 jobs from business relocation in 2012.”

But Illinois’ unemployment rate, at 8.2 percent, is nearly two points higher than our neighbors and the rest of the nation.


From the Newsroom

QuincyJournal on Twitter

QuincyJournal 34 minutes ago

Quincy Police Blotter for April 19, 2014 http://t.co/7ztgKRFxiV
Bob Gough on Twitter

Bob Gough 8 hours, 32 minutes ago

RT @IllinoisMirror: Both Clinton & Bush43 libraries were built with private funds. The Obama library should be, too. IL taxpayers shouldn't…
Bob Gough on Twitter

Bob Gough 8 hours, 37 minutes ago

@Ben_WGEM Matheny baffles me...often.
Bob Gough on Twitter

Bob Gough 8 hours, 39 minutes ago

@Hendomaniac1 How does Matheny not have Adams pinch hit for Robinson?