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Perry to Illinois in Search of Businesses to Move to Texas

Perry to Illinois in Search of Businesses to Move to Texas

Postby Happy Mom » Tue Apr 23, 2013 10:19 am

Rick Perry Headed to Illinois in Search of Businesses to Move to Texas
By Mark Whittington |– 17 hrs ago

According to the Associated Press, Texas Gov. Rick Perry has traveled to Illinois in order to urge companies there to relocate to the Lone Star State. His visit in accompanies by an $80,000 ad campaign and a speech to 2013 BIO International Convention in Chicago. :D :clap: :clap:

Perry to try to rustle companies from Illinois

Following up on a similar trip to California earlier this year, Perry is traveling to Illinois to urge private companies in that state to relocate to Texas, the Associated Press reports. Perry is likely to tout the relatively favorable business climate in Texas, with low taxes, moderate government spending, light regulations, and a tort reform system. In the ad campaign, running on a number of radio stations in Chicago, Perry states, according to the Chicago Tribune, "I have a word of advice for employers frustrated by Illinois' short-sighted approach to business: You need to get out while there's still time."

Illinois economy in trouble

Perry will be traveling to Illinois as the state is mired in a variety of economic problems. According to the Associated Press, Perry might find a receptive audience in the Illinois business community. Illinois is suffering from a pension crisis that could cost the state up to $100 billion. The state currently must pay $7 billion, about one fifth of the state's general fund, to the five pension funds that it runs. This along with $8 billion in unpaid bills has created a financial crisis that the Illinois state government has yet to solve. The Illinois Policy Institute reports that Illinois has enormous personal and corporate income taxes, putting it in the top third of the nation. In 2010, the state increased personal income tax rates by 67 percent and corporate income tax rates by 47 percent. The Illinois Policy Institute advises that both rate increases should be repealed and spending reform be enacted so that both the personal and corporate income taxes be abolished, making Illinois competitive with low tax states like Texas. The unemployment rate in Illinois is 9.5 percent as of February.

Illinois governor reacts with disdain

The Chicago Tribune notes that Illinois Gov. Pat Quinn, a Democrat, reacted with disdain to Perry's visit, which he suggested was a public relations stunt. He accused Perry of being a "big talker." He also touted Illinois as a business friendly state, stating, "Companies are coming to Illinois because of ... our highly skilled, educated workforce, because of our excellent transportation and because of a government that works with companies." Quinn stated that he did not need advice from Perry and suggested that businesses might want to think hard about moving to Texas because of the persistent drought there.

Texas resident Mark Whittington writes about state issues for the Yahoo! Contributor Network. ... 00856.html
"Preserving and protecting the principles of the Constitution is the primary role of the federal government."
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