"Poaching" Not In Blueprint For Illinois Job Growth
Illinois' economy was slow to feel the effects of the Great Recession, and has been slow to recover from it. The state's Department of Commerce and Economic Opportunity is submitting a five-year plan to the General Assembly, with suggestions for business growth and more state spending.
DCEO's blueprint includes measures that stalled in the legislature this spring, including raising the minimum wage to $10 an hour, doubling a tax credit for the poor and investing in major infrastructure.
But other parts of the plan call on lawmakers to support existing business growth with tax breaks and other incentives. Department spokesman Dave Roeder says Illinois' economic success will depend on focused business expansion.
"Trying to poach business from another state is not a viable long-term strategy. Most of your growth comes from what you have already here. We have identified sectors where we are strong and we want to get stronger."
The plan also includes benchmark goals, like creating 75,000 new jobs within five years, and encouraging tech startups based at the state's public universities.
Copyright 2014 WNIJ Northern Public Radio