Illinois’s Job Creators and Workers: “Complainers”?

by Emily Dietrich After a weeklong excursion to Asia, Gov. Quinn made a splash last Wednesday with his first public statement in 20 days. Quinn said that those expressing concern over Illinois’s economy are “complainers” and “naysayers.” As evidence of a positive jobs market, Quinn pointed to the job growth the state experienced last year. True, the...

by Emily Dietrich

After a weeklong excursion to Asia, Gov. Quinn made a splash last Wednesday with his first public statement in 20 days. Quinn said that those expressing concern over Illinois’s economy are “complainers” and “naysayers.” As evidence of a positive jobs market, Quinn pointed to the job growth the state experienced last year.

True, the state saw job growth in 2010. But only when compared to 2009 when the country was in the midst of a deep recession. In fact, Illinois has not even recovered all jobs lost during the recession. Today, the state still stands at a jobs deficit.

In 2011, Illinois’s economy shows sluggish jobs growth at best. It’s now October and the current unemployment rate stands at 9.9 percent. While Quinn refers to years past, are we to believe that there is a good jobs market today?

Right now in Illinois, jobs of all shapes and sizes could be in jeopardy. While Illinois politicians boast of their allegiance to Illinois’s manufacturing sector, another manufacturing company is engaging in negotiations to relocate. Ferris Manufacturing Corp. plans to move their shop from Illinois to Texas. “The taxes are oppressive (in Illinois). The business climate is terrible. Every time you turn around, they’ve got some new regulation or some way to make you uncomfortable,” said Dr. Roger Sessions, chairman and CEO of Ferris.

And they’re not the only company pointing to the uncompetitive climate created by Illinois’s oppressive tax burden. After Quinn raised corporate income tax rates 46 percent this year, companies in the financial sector also looked to flee.

Craig Donohue, CEO of CME Group Inc., told Rueters: “Our tax situation is untenable.” CME continues to engage in relocation talks with states such as Texas, Florida, and Tennessee.

CBOE Holdings Inc. – parent of the Chicago Board Options Exchange – might also leave Illinois because of high taxes. CBOE chairman and chief executive Bill Brodsky told the Chicago Tribune that the state’s tax structure relating to exchanges “is virtually punitive.”

Late last week, stories surfaced of Hoffman Estates-based Sears Holdings Corp.’s possible relocation. They plan on moving their headquarters from Illinois to Ohio or Texas.

What does this all mean?

It’s disingenuous to say that the spike in tax rates hasn’t had serious repercussions for Illinois’s economy. The tax increase has chased away the state’s jobs creators while costing Illinois employment. Illinoisans have lost job security at the hands of politician’s failed public policies.

So who is Quinn calling the naysayers and the complainers? The companies that are forced to relocate so they can compete, grow, and produce jobs? Or is he mocking the citizens that are terrified that their job is the next to get cut?

Quinn’s failed policies haven’t put Illinois on the path to prosperity. Neither has disparaging those fighting for their livelihood.

At the Illinois Policy Institute, we believe in Illinois Rising. Through the hard work of the state’s entrepreneurs, workers, and small businesses, Illinois can secure a brighter future.