Posted by Davd Oliver on 5/31/2017 to
Tips for Entrepreneurs
IncSmart Illinois (Small Business and Startups) - The American Census reports Illinois keeps loosing population as Chicago struggles to stay as the country's third largest city. The largest drop in population comes from Chicago and Cook County. Estimates show the losses are 40,000 people in 2016. The exodus of Chicago's black community, is the largest group leaving the county. Families want after neighborhood for children.
Chicago is too expensive, and businesses are worried about the new law for $15 an hour minimum wage. On top of the high state and local tax burdens, property tax relief is not forthcoming. But the top reason for moving, is violence and cash strapped school system. The drop in population also creates long term budget concerns. Chicago depended on immigrants from Mexico to keep its population from dwindling, but boosting the population via immigration is no longer working for federal moneys.
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