Illinois’ economy has always been dominated by metro Chicago, of course, and lately the Windy City economy has been living something like The Tale of Two Cities: It’s the best of times to backers who believe Chicago has a great chance of landing Amazon’s “HQ2,” but it’s the worst of times for those who think the state is becoming an economic anchor because of its dire fiscal situation, crumbling under the demands of its big city.
There’s no arguing with most unpleasant facts that once again added up in CEOs’ minds to place the Prairie State at a woeful No. 48 in the 2018 Chief Executive “Best States / Worst States for Business,” a spot that Illinois has occupied for about a decade straight.
Chicago has by far more underwater homeowners than any other city. Illinois is the worst-rated state in the municipal bond market because it has a debt load of more than $30 billion, crushing public-pension burdens, a load of unpaid bills, and an unapologetic governing establishment.
“We should live within our means, and raising taxes just chases more companies out of the state.” – David Macneil, weathertech
Liberals are working to make sure Democratic candidate Jay Pritzker defeats incumbent Republican Gov. Bruce Rauner this fall, in part so they can replace the state’s flat income tax with a progressive one that, critics say, would only chase more wealthy taxpayers away. Illinois already has one of the nation’s largest out-migrations of people each year.
“You can’t spend money you don’t have,” said David MacNeil, owner of WeatherTech, a maker of customized automotive floor mats based in suburban Chicago. “We should live within our means, and raising taxes just chases more companies out of the state. Loser taxes attract more residents and attract more companies and are the bet way to invigorate the economy. There’s no such thing as taxing a society into prosperity.”
Like many CEOs in the state, MacNeil also would like to see Illinois undertake tort and worker’s-compensation reforms, among others.
Meanwhile, Wisconsin is adding insult to injury by advertising in downtown Chicago for capable millennials to work in a business-friendly state that has the huge Foxconn plant coming just north of the border.
The complete listing for the Best and Worst States for Business can be found here.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
