Chicago is getting richer, but that could be because poor people are leaving – Hinz – Crain’s

A Brookings Institution study concludes that while the metro area is growing more slowly than other large cities, we’re making progress on prosperity and sharing the wealth among those who remain. “The data suggest to me the region is losing relatively low-income jobs and population but gaining on the higher end of both. That’s consistent with a shift from manufacturing and lower-end positions to a so-called knowledge economy, and consistent with other recent reports that the city is losing lots of black residents but college graduate rates are rising quickly among those who remain.”

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Chicago’s convention center and two health systems add COVID-19 disclosure – The Bond Buyer

The Metropolitan Pier and Exposition Authority warned about the potential effect of a pandemic or health epidemic as a factor that could drive economic changes that could impact revenues. The authority’s bonds are backed by taxes on Chicago-area hotel stays, car rentals and other tourist services, with statewide sales tax revenues allocated by statute to cover shortfalls between those annual tourism tax revenues and debt service. The authority also owns two hotels, the Wintrust Arena and Navy Pier, which are privately operated.

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Who gets weed tax revenue? Illinois is still working on that. – Crain’s

Gov. J.B. Pritzker won passage of the state’s cannabis bill thanks in large part to its equity provisions, which include a pledge to pump a significant portion of pot proceeds into communities hardest hit by the war on drugs. But how that money will be spent, and by whom, is only beginning to take shape nearly a year after the recreational marijuana law passed the General Assembly.

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Pritzker has pension power – Opinion – QC Times

Richard Porter: There is no guarantee of continued employment in the Illinois Constitution, just limits on changes to certain benefit plans while someone is employed. But when employment ends, so does participation in the state’s benefit plans. The terms of a new offer for new employment are constrained only by state law, the labor market and political will, not the Constitution.

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State Farm’s banking exit puts nearly 1,000 Illinois jobs at risk – Crain’s

The jobs of nearly 1,000 State Farm workers in Bloomington are up in the air thanks to the insurance giant’s decision to exit the banking business. State Farm announced March 5 that it was transferring deposit and credit-card accounts to Minneapolis-based U.S. Bank as part of a strategic decision to end State Farm Bank, which the insurer launched 21 years ago.

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Report: Illinois homeowners paying ‘shadow mortgage’ that costs tens of thousands – Center Square

Policy researchers at the nonprofit Wirepoints added up and divided the future liabilities owed by the state, county and local municipalities in the form of pensions and retiree healthcare costs by household. “When divvied up between Illinois’ households, the ‘shadow mortgage’ each one is on the hook for now totals hundreds of thousands of dollars per household, if not more, depending on who politicians target to repay those debts.

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Illinois early voting slow, boost from COVID-19 fears possible – WGN (Chicago)

Early and Election Day voting places are stocked with hand sanitizer and disinfectant wipes, according to a spokesman for the Chicago Board of Election Commissioners. Paper ballots are also available on Election Day, so voters need not interact with touch-screen voting. Voters who want to avoid going to any public place whatsoever have until March 12 to request a vote-by-mail application.

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No change on daylight saving bill – Capitol News

The state Senate passed a bill in November that calls for setting clocks ahead one hour to daylight saving time Sunday and leaving Illinois permanently on Central Daylight Time. But that bill remains in legislative limbo in the House, and ultimately requires approval from the federal government.

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