Monday, May 25, 2015
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Expatriate - Updated NASA Data: Global Warming Not Causing Any Polar Ice Retreat - Quincy, IL News - QuincyJourna
This article exposes that Taylor either doesn't understand the data, or he is intentionally misleading his readers.
qfingers - Illinois House panel approves millionaire tax amendment - Quincy, IL News - QuincyJournal.com
The millionaire tax is the political version of two wolves and a sheep voting on what to have for dinner. As 100% of the people if 2% ought to pay more and a good majority of the self-centered 98% will vote "heck yeah...it doesn't affect me". A good example of why we have representative government and not a true democracy.
samthebutcher - National Study Quantifies Impact of Salvation Army Ray and Joan Kroc Corps Community Centers, Unders
I am happy for the community to have the Kroc, I also know the YMCA gets $0 help from the government. Let's not forget about them in this community and all they do.
samthebutcher - Germanfest on June 6th - Quincy, IL News - QuincyJournal.com
ja, es ist
Givemeliberty - Quincy School Board to re-bid QHS construction - Quincy, IL News - QuincyJournal.com
Mabey the "on time in jeopardy" is a little alarmist this early. However the longer they hold off the harder "on budget" becomes if you plan on keeping the original target date. although I don't think its uncommon for deadlines to get pushed back a time or two on a project this size. Knowing the schedule they are under there is probably a reason overtime and double time contingencies were put…

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Quincy, Adams County want your feedback

Are Illinois’ $1.5 billion in tax giveaways working?

1 year, 3 months 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.


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