Illinois Gov.
J.B. Pritzker
has just lately been seen in New Hampshire and Florida, spurring hypothesis that he’s eyeing a 2024 presidential bid. Or perhaps he’s making an attempt to flee Illinois like so many others have throughout his governorship.
Research outfit Wirepoints notes in a brand new report that Illinois’s actual GDP grew a mere 0.5% between the primary quarters of 2019 and 2022, the primary three years of Mr. Pritzker’s governorship. That’s by far the slowest development within the area. Indiana’s GDP elevated by 6.1%, Iowa’s by 5.2%, and Michigan (3.7%), Kentucky (3.3%) and Missouri (3.1%) lapped it too. Even slow-growing Wisconsin (1.6%) recorded triple the expansion of Illinois.
Mr. Pritzker can’t blame local weather change. Illinois’s lagging GDP is particularly outstanding given it benefited mightily from rising farm commodity costs. Agricultural GDP in Illinois rose 25.4% in the course of the three-year interval, which was greater than in Iowa (21.2%), Missouri (15%), Michigan (11.4%) and Kentucky (0.4%).
Yet excessive taxes, crime and awful faculties are driving residents and companies to different states.
Ken Griffin
just lately stated he’s transferring his Citadel hedge fund and securities buying and selling agency to Miami from Chicago.
Caterpillar
is replanting its company headquarters in Irving, Texas, and
Boeing
is relocating its head workplace to Arlington, Virginia.
Illinois misplaced $8.5 billion in adjusted gross revenue from out-migration in 2020, or about 1.9% of AGI, rating forty ninth within the nation. The solely state that misplaced a bigger share was New York. Florida gained $23.7 billion and New Hampshire $960 million. Maybe Mr. Pritzker has sojourned to those low-tax states to hit up Democratic donors who’ve decamped from Illinois.
Mr. Pritzker and Democrats have been anxious sufficient about his re-election that they spent greater than $30 million in the course of the GOP major to spice up Republican State Sen.
Darren Bailey
who was thought-about the weakest candidate within the discipline. But we marvel if Mr. Pritzker actually desires to stay round for a full second time period when the state and Chicago pension liabilities might once more grow to be a disaster.
Running for President is perhaps a pleasant diversion that spares him from coping with the mess Democrats have made from Illinois.
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Appeared within the July 19, 2022, print version.
Source: www.wsj.com”