Wednesday, September 24, 2014

Study finds Illinois second-worst for business

Illinois' economy has been suffering for years. It regularly vies with Michigan for the title of highest-jobless-rate-in-the-Midwest. Currently, Michigan is on top.

More bad news for ILL-inois. A survey ranked the Prairie State the second-worst for business in the nation.

From Crain's Chicago Business:
A Chicago-area research group is out with its annual listing of best and worst states in which to do business — and Illinois, once again, is bringing up the rear.

According to the Park Ridge-based American Economic Development Institute, the Land of Lincoln ranked 49th of the 50 states in its overall pro-business status, ahead of only California.

In comparison, the group's list of top states is headed by the relatively unpopulated Utah, Wyoming and Nebraska, but also included Virginia (fourth) and Indiana (seventh).

The institute, which leans to the political right, rates Illinois an F on such issues as workers compensation, corporate income tax rates and the "litigation environment" that are popular with conservatives. But it notably also includes the cost of energy, college-completion rate and average teachers compensation, in which the state wins a B.

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