Here’s How Much Tax Revenue Illinois Will Lose From Citadel’s Decision To Cut Bait The move, which Griffin announced in a letter to employees, will deprive Democrat-run Illinois of hundreds of millions of dollars in annual income tax revenue, a company spokesman told the Washington Free Beacon. Griffin alone—who is worth approximately $25 billion—pays over $200 million in state income taxes every year, the spokesman said, and Citadel employees have themselves funneled over $1 billion to the state over the past decade. Citadel is the third major corporation to announce plans to leave Illinois in the past two months. Caterpillar said earlier this month that it would move its headquarters from Illinois. The announcement followed Boeing's decision in May to move its headquarters to Arlington, Va., from downtown Chicago. Griffin's announcement comes as Illinois governor J.B. Pritzker, a Democrat, faces reelection in November. Pritzker and Chicago mayor Lori Lightfoot, also a Democrat, are grappling with a spike in violent crime. Murders in the city were up 60 percent in 2021 relative to two years prior, while shootings were up 66 percent and car theft was up 19 percent over the same time period, according to statistics compiled by the Chicago Police Department. Griffin has spoken publicly about the rising crime rate and its impact on his colleagues. "If people aren't safe here, they're not going to live here," he told the Wall Street Journal in April. "I've had multiple colleagues mugged at gunpoint. I've had a colleague stabbed on the way to work. Countless issues of burglary. I mean, that's a really difficult backdrop with which to draw talent to your city from." ________________________ It'll be interesting to see if some of the New York financial heavyweights follow suit. There is already an exodus from New York to Florida.
Yeah, those Democrat hellholes are dreamy good. Net inflow of people seeking the good life from Fla and Texas is flocking to the Democrat hellholes. Crime, shooting, death? Good times. Invigorating. Let the good times roll. What's not to like, lol.
DeSantis' Florida Blows Away Entire Country In Competition For People And Their Wealth Newsom just ran ads decrying the lack of “freedom” in Florida. And Pritzker recently traveled to Florida to give a speech ripping the state and Gov. DeSantis’s policies of “racism, homophobia and misogyny” and declaring that DeSantis is “just Trump with a mask on.” the big winner when it comes to the state-to-state competition for migrating Americans and their money. California and Illinois, meanwhile, remain two of the nation’s biggest losers. The most-recent state-to-state migration data released by the Internal Revenue Service shows Florida netted a gain of 167,000 residents (tax filers and their dependents) in report-year 2020 – the most in the nation. In contrast, the IRS data shows California lost 263,000 residents and Illinois lost 101,000 residents that same year.
Companies move to Chicago because of the airport. and Chicago is centrally locatied From O'hare airport one can fly anywhere in the world non-stop.. These companies tend to move the executive offices to Chicago but leave manufacturing in other states They all get sweet tax deals to move here
Why the hell does one need to fly? Why should it be a defining moment in the corporate future? This is ridiculous.