Sunday, Aug 30, 2015
Quincy, IL News - QuincyJournal.com

Recent Comments

eaglebeaky - Rauner’s budget superstar exits Illinois with $165,000–and no budget - Quincy, IL News -
That may be true Qfingers, but if so why did the (so-called) "superstar finance expert" even take the Illinois job in the first place if she apparently had no intention of trying to come up with some kind of a solution? Remember that airline pilot (Capt. Sullenberger) a while back, who managed to successfully land his crippled plane full of passengers in the middle of the Hudson River (saving a whole…
ONCEMORE1 - Clinics to open in Senior Center, Indian Hills - Quincy, IL News - QuincyJournal.com
I wonder how many of these "Free Clinics" Durbin gasses on about he's ever visited for actual healthcare, with his Golden Government (taxpayer supported) insurance. One thing to walk in as a State Senator with the media and entourage to check the service, quite another to be one of the indigent or elderly trying to actually GET service. And, like anything the Government does, it'll…
qfingers - Rauner’s budget superstar exits Illinois with $165,000–and no budget - Quincy, IL News -
Perhaps it's more like Illinois is so screwed up it's beyond repair.
eaglebeaky - Federal Court blocks EPA’s Clean Water rule from taking effect on August 28, 2015 - Quincy, IL
I noticed that too, GML... and Illinois (if it were to be included among all of the other states that were listed in this case) would have been the furthest east out of all of them. So my first thought was that (maybe) it's purely a geographic issue? Perhaps Illinois falls under the jurisdiction of a different federal court, and not this one located in North Dakota. I honestly don't know,…
QuincyGuy - Clinics to open in Senior Center, Indian Hills - Quincy, IL News - QuincyJournal.com
Due in would do well to help those facing economic problems find work. It's his party that is responsible for today's economy. With all the different sources to transport people from home to our current clinics, I question the need for this. Don't start thinking Durbin is Daddy Big Bucks either. "That money came out of OUR pockets."

Most Popular

23 Legionnaires’ cases now reported at IL Vets Home Updated

Arrest made in 5th and Cherry shooting Updated

And now it’s time to say goodbye

Durham man shot by police

No arrests days after fatal shooting of girl, 9, in Ferguson, Missouri Video

BG man arrested; broke man’s ankle w/car

Real Estate Transfers August 17th thru 21st

Vester Lee Flanagan II, aka Bryce Williams, Named as Suspect in Live TV Shooting in Virginia Video

Are Illinois’ $1.5 billion in tax giveaways working?

1 year, 6 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.


From the Newsroom

QuincyJournal on Twitter

QuincyJournal 58 minutes ago

Cards support strong Lynn in win over Giants http://t.co/oVw17gzy3a
QuincyJournal on Twitter

QuincyJournal 58 minutes ago

Lynn sprains ankle in eighth inning vs. Giants http://t.co/AyzloUmrvS
QuincyJournal on Twitter

QuincyJournal 17 hours, 58 minutes ago

Samsung Leads In Patent War Chest Among Tech Giants For Cars Of The Future http://t.co/RFrFRcpnrD
QuincyJournal on Twitter

QuincyJournal 18 hours, 57 minutes ago

New DUI law on the books in Illinois http://t.co/E5V7QJ5jSM