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Lion Electric came to Joliet with fanfare for its place in the future electric vehicle industry in Illinois. The state provided the company with $7.9 million in tax incentives tied to 745 future jobs at the Joliet plan, a number that Lion executives said they would exceed .
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Lion Electric’s political donation activities should be scrutinized.
But, but, but all the free money the taxpayers gave them. What happened, when will the $$ be paid back, who’s gonna get the blame. Who is screwed? You, me, and every taxpayer in the state.
The motto of Illinois, Cook County, Chicago, and a number of other governmental entities in Illinois should be “it’s only taxpayer money.”
Promises promises. All these state funded deals are based on promises from fledgling businesses that are based on pie in the sky projections. The only requirement to turn on the flow of cash from JB and friends is the the business be “green”. Looks like we have a two-for-one epic week for team Pritzker, with both Stellantis and Lion hitting rock bottom. I wonder, will any members of the mainstream media dare ask the Happy Warrior about this messy situation? What of all those promised jobs JB?
The glossy headline of another of Pritzker’s spending ventures is now wearing off revealing the true economic unfeasibility of it all. The created headlines were not enough for Pritzker to get his party’s nod but, due to circumstances, Pritzker, in his mind, has another chance in 2028. Prepare for more taxpayer provided spending projects of this nature that Pritzker hopes will propel him to the Presidency while the Illinois taxpayers foot the bill giving up hopes of any property tax abatements while under his thumb. If only we had a good free independent press focused on true investigative reporting on… Read more »
So do the taxpayers receive a 7.9 million dollar refund, if not Pritzker needs to have an investigation opened up on him and the state legislators by the new DOJ in Washington. The taxpayers in Illinois have been scammed and screwed to many times by this administration, what really stinks is the taxpayers have no input to we’re are money is going.
“what really stinks is the taxpayers have no input to we’re are money is going”
The taxpayers have input via elections. Everyone who lives in Illinois is complicit in the waste and corruption. Unfortunately, it’s not easy to see it that way until you leave.
Illinois expats to leftist virtue signalers: Hold my beer.
“Everyone who lives in Illinois is complict …?” I take exception to that blanket assertion.
Everyone who wasted their vote by not voting and everyone who voted for the current politicians are complicit, are not “everyone.”
Agree – our districts are so gerrymandered I find it hard to believe it isnt unconstitional. And let’s not forget you don’t need an ID in IL to vote.
The Supreme Court ruled that redistricting is inherently a political act and is not an issue for the Supreme Court to determine. State Supreme Courts have found differently, but on the federal level, it’s gerrymander away.
Cook County/Chicago voters are to blame as they continue to swallow the tripe handed to them by their democrat overseers. Nothing will change until those voters get their heads out of their posteriors and stop kissing the behinds of democrat politicians. The results are clear that the democrats have torn the city, the county and the state apart with the insanity coming out of Springfield.
Hearts out to the ordinary workers losing their jobs because of the State of Illinois’ stupid bets on EVs.
Do you know how many buses were bought and paid for by CTU if any? How many were delivered and on back order? Who will service the buses if already delivered? Thanks.
P.S. Hope you and your entire staff had a good Thanksgiving despite the debacle by the Bears.
Freddy, I do not know, and I expect that question will be a real mess for many school district. lion has been their biggest supplier. Parts? good luck. FUBAR.
FUBAR=anything the state gets involved with
I recall in the past year the Evanston School District pushing for electric school buses for “climate equity”, another hare – brained waste of money. Evanston District 65 is now basically insolvent, and the state will prolly step in very soon to administer their finances – what a surprise…!!!
What’s really sad is that the monies could have been used for job training – there is an acute shortage of car mechanics, equipment mechanics, HVAC mechanics, etc.