All of Illinois’ neighboring states were in the top half of Chief Executive Magazine’s 2012 list of best states for business. Illinois was rated third worst. The state’s unemployment rate, consistently the highest in the region, is evidence of that ranking’s accuracy. Businesses in Illinois suffer under some of the highest workers compensation insurance rates in the country, and in 2011 they saw their income tax rate jump from 4.8 percent to 7 percent — a 46 percent increase.
The state lately has placated its biggest private employers with special tax deals rather than implementing a more fair, stable system for all business. Underlying it all are shaky state finances that have made businesses wary of new tax hikes and fees to come. That’s a big problem when trying to bring business and jobs to Illinois.
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