New nonprofit aims to promote area economy – Crain’s

The city has World Business Chicago, the state has Intersect Illinois, and now the metropolitan region is trying for a new public-private partnership to promote economic development. A four-year-old working group representing seven counties and Chicago has incorporated and plans to launch early next year as the Chicago Regional Growth Corporation. The wild card is funding, which the group is raising now.

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Texas vs Illinois: One glimpse at how Illinois’ stagnant economy hurts — local sales tax sharing – Quicktake

Texas, like Illinois, splits its sales tax collections with local governments. Unlike Illinois, its economy and tax base are growing. Result: Texas today announced it will share almost $700 million with localities just for collections in October. That’s a whopping increase of 10.8% over October 2016 — an additional $75 million for Texas towns and cities for just one month. In Illinois, meanwhile, sales tax collections have been close to flat, as reported in the most recent report from Illinois’ Commission on Government Forecasting and Accountability. And the state recently reduced the portion it shares with municipalities by subtracting a

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Deluge of towns and cities across Illinois raising property and other taxes – Quicktake

Danville, Waukegan, Normal, Palatine, Hoffman Estates, Lake Zurich,  Elgin, Peoria, Normal are just a few of many I’ve seen reported in the last two days. The list goes on from communities large and small in Illinois, all scraping for more revenue. Sorry to you readers who sent others we haven’t printed. If we linked to all of them, our homepage would be overwhelmed with the same story. It’s already beyond crisis. Illinois already has the highest property tax rates in the nation. Further increases will accelerate the death spiral. Municipalities have very limited options beyond property taxes. Some are looking

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Commerial Breakdown – Chicago Tribune

Part 4 of the Tribune’s special reports on Cook County property taxes: Under Joseph Berrios, assessments of commercial and industrial properties defy logic, punish taxpayers and enrich lawyers

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