Illinois Economy

Business and economic news

BigThingsInASmallTown

The eastern Illinois community of Casey has followed the lead of roadside novelties promising tourists a chance to see the world's largest (fill in the blank).

TIF: The Swiss-Army Knife Development Tool

Sep 5, 2019

Analysis: University of Illinois Springfield Distinguished Public Finance Professor Kenneth Kriz co-edited a book that documents the evolution of tax increment financing, an economic and community development method widely used across the country, including in Illinois, which has more than 1,400 TIF districts in over 500 municipalities. 

checkbook
flickr/RikkisRefugeOther https://creativecommons.org/licenses/by/2.0/legalcode

It’s estimated 1 in 5 Illinois households don’t use banks, mainly because they can’t meet the requirements of start-up costs and minimum deposits.   So they turn to payday loan operations, even for basic services like cashing a paycheck.  

Google Maps

The President and CEO of Land of Lincoln Goodwill has resigned, just a day after reversing a controversial decision to lay off disabled workers.  

Illinois Form 1040
NPR Illinois

Illinois lawmakers have approved a plan that could change how Illinois taxes income.   In the nearly 40 years the state has had an income tax, it’s been a flat tax.  That means no matter how much you earn, you pay the same percentage.

Now, Governor J.B. Pritzker and other advocates of a graduated tax say it’s time for a new approach.  

Brian Mackey / NPR Illinois

Most of the electricity used in Springfield comes from the coal-fired power plant on Lake Springfield. The city's public utility, City Water, Light and Power, is considering a recommendation to shut down a large part of that plant and move to wind or solar.

Some CWLP workers are worried about their jobs in light of the study. Meanwhile, environmentalists who support the move away from fossil fuels have said the city can limit the impact on workers with retraining and other job opportunities.

Is your phone listening to you?

May 17, 2019

It's a spooky feeling: You're discussing a TV show or a pair of shoes or whatever with a friend, then you open Instagram and see an ad for the exact thing you were just talking about. But it's not like your phone is listening ... right? Plus: How delivery apps are changing the restaurant business and the legacy of Grumpy Cat.

Donald Trump says auto imports from Japan and the E.U. threaten the U.S.'s national security. SAT participants will now get an "adversity score," but they won't know what it is. Plus, we travel to Denmark, where top chefs are developing the foods of the future. Rollie pollies, anyone?

Today's show is sponsored by Indeed and Wasabi Hot Cloud Storage.

The age of fraud

May 17, 2019

Marketplace Morning Report host David Brancaccio kicks off the special series "Brains and Losses," which looks at the financial vulnerability of an aging population. Then, more than 40 states are now suing Oxycontin maker Purdue.

Today's show is sponsored by Indeed and Wasabi Hot Cloud Storage.

Spoilers are good for you

May 17, 2019

From the BBC World Service... Facebook has banned an Israeli company it believes was behind hundreds of fake accounts, mostly targeting elections in six African countries. Then, we explain why climate change is a major issue in Australia's upcoming elections. Plus, do story spoilers necessarily spoil stories?

Today's show is sponsored by Indeed and Wasabi Hot Cloud Storage.

It's the final installment in our kickoff week of "How We Survive," an ongoing series about how technology can help us adapt to climate change. It's controversial to talk about using more money and technology to adapt versus efforts to mitigate, or slow down, global warming. Marketplace's Scott Tong tells us how he's seen the adaptation versus mitigation debate evolve in his years of reporting on climate change.

Today's show is sponsored by Clickshare and Indeed.

Sports betting in a Nevada casino.
Marit & Toomas Hinnosaar / Flickr: Attribution 2.0 Generic (CC BY 2.0)

One year after the U.S. Supreme Court allowed states outside of Nevada to set up their own sports betting rules, some experts are offering Illinois lawmakers tips as a final proposal is drafted. 

When we last talked with Ed Bastian in 2016, he had only just been appointed CEO of Delta Air Lines. This time we caught up with him at Los Angeles International Airport as he stepped off a flight from Atlanta.

Just 10 days ago, it looked like the trade war with China was all but wrapped up. No more. The Trump administration has effectively blacklisted Chinese tech giant Huawei, which has potential to drastically disrupt the global tech supply chain and shoot the U.S. in the foot. Plus: What American businesses get out of tariffs, and what you need to know about the SAT's new "adversity index."

Lighting a fire under the FDA over e-cigarettes

May 16, 2019

With more tariff threats and a new tech ban, how could increased tensions between the U.S. and China affect investors long-term? A federal judge lights a fire under the FDA to speed up e-cigarette regulation. Plus, could there be another trade beef brewing in the E.U. and Japan over American auto tariffs?

Today's show is sponsored by BitSight Technologies, Capital One and Wasabi Hot Cloud Storage.

How Donald Trump might've just slowed down your 5G

May 16, 2019

The Trump administration's crackdown on Huawei continues. Walmart navigates the U.S.-China tariff troubles. Plus, can the tech industry or its innovative spirit save us from climate change?

Today's show is sponsored by BitSight Technologies, Capital One and Wasabi Hot Cloud Storage.

Lego addicts help fight fakes

May 16, 2019

From the BBC World Service... The Chinese telecoms giant Huawei has warned that President Trump's order to ban cooperation with some foreign communication networks will leave the U.S. lagging behind in 5G technology. How will turmoil in the Middle East affect insurance premiums for tankers moving through the region? Plus, police in China smashed a $30-million fake Lego ring last month. Lego’s vice president in the country explains the unique role of its fans in finding those fakes.

In a changing climate, we need tech to adapt

May 16, 2019

We continue our series on how tech can help us adapt to climate change, called "How We Survive." Tech solutions can involve a lot of things: transferring existing technologies to more vulnerable parts of the world, updating infrastructure, applying artificial intelligence, even (eventually) space colonies. Today a look at a few areas (on Earth) where innovation is already occurring around risk assessment, agriculture and water.

Today's show is sponsored by AVAST and Logi Analytics.

Potholes can tell you a lot about inequality

May 15, 2019

In most American cities, road repairs can tell you a lot about the communities that are prioritized and the communities that get left out. Oakland, California, is trying to change its approach, but not without controversy. Plus: What consumer confidence can (and can't) tell us about actual consumption and the legacy of Alice Rivlin, the founding director of the Congressional Budget Office.

The economic anxieties of the 2020 Democrats

May 15, 2019

Retail sales in China and the U.S. show signs of slowing, and the trade war's not helping. President Trump could ban U.S. companies from doing business with certain Chinese tech firms. Plus, in a still-growing field of 22 Democratic candidates with varying economic policies, most of them agree on one thing: ending the Trump tax cuts. 

Today's show is sponsored by the Michigan Economic Development Corp., GAIN Capital Group and Wasabi Hot Cloud Storage.

The scale(s) of the black market pangolin trade

May 15, 2019

A federal labor agency rules workers in the gig economy can't unionize. There's a good reason the NBA Draft is left up to chance. Plus, we look at why the pangolin has become the world's most trafficked mammal, and it's about a lot more than their cuteness.

Today's show is sponsored by the Michigan Economic Development Corp., GAIN Capital Group and Wasabi Hot Cloud Storage.

What bosses can learn from actors

May 15, 2019

From the BBC World Service... Facebook says it will introduce new restrictions on users who post live content that violates its policies on hate speech. But can you police those dark corners of the internet? Then, China's president Xi Jinping has urged countries not to "close their doors and hide behind them" in his first major speech since President Trump raised tariffs on $200 billion of Chinese goods. Plus, is there anything the world of business can learn from actors?

Who pays for the tech to survive climate change?

May 15, 2019

Surviving climate change is not going to be cheap: The United Nations puts the total cost to society at $54 trillion (at least) by the end of the century. It's going to take private money and entrepreneurship to push forward the kinds of adaptation technology we're talking about in our series "How We Survive," and today we're talking with one of the few investors already in the game.

Today's show is sponsored by Clickshare and Ultimate Software.

113: How to survive climate change

May 14, 2019

It's time to shift our approach to climate change. The truth is, it may very well be too late to avoid the worst consequences of our warming planet — lost ecosystems, millions of plants and animals going extinct, scarce water and more extreme weather. It may be time to focus more on technology that will help us adapt.

When the hospital shuts down

May 14, 2019

Losing a hospital can jeopardize the health of rural community and its economy. About 100 rural hospitals have closed since 2010, and today, we look at how one Georgia community dealt with it. Plus: An investment in China that feels too good to be true, and the "internet of things" comes to ... diapers.

The big TV networks are doing just fine

May 14, 2019

Markets rebound after Monday's trade talk sell-off. A new study finds preschool goes a long way later in life. Plus, despite falling viewership on traditional TV, the big networks are still doing big business.

Today's show is sponsored by Bitsight Technologies, the United States Postal Service and Wasabi Hot Cloud Storage.

Why millennials are fond of the state right now

May 14, 2019

China's retaliatory tariffs mean U.S. liquefied natural gas exports could take a hit. What does SCOTUS's Monday decision against the Apple Store's "monopoly" means for the greater tech industry? Plus, millennials' economic outlook is generally rosy, but they're still a bit skeptical, according to a new survey.

Today's show is sponsored by Bitsight Technologies, the United States Postal Service and Wasabi Hot Cloud Storage.

Why angry shareholders are targeting Germany

May 14, 2019

From the BBC World Service... Cybersecurity experts have warned WhatsApp users to update the messaging app as soon as possible following the discovery of a flaw. We examine why shareholders are demanding change in corporate Germany. Plus, we look at how Pakistan’s booming beauty industry is getting more women into work.

Today's show is sponsored by Bitsight Technologies, the United States Postal Service and Wasabi Hot Cloud Storage.

To adapt to a changing climate, we have to understand the scope of the problem in order to better predict what might happen, and when. Collecting climate data on the scale of the entire globe is a job for NASA. And in this installment of “How We Survive,” our series on tech to adapt to climate change, we hear more about NASA’s $1.9 billion earth science missions, including the Orbiting Carbon Observatory 3, tasked with “watching the Earth breathe from space.”

Is the trade war the new normal?

May 13, 2019

The latest escalation in the trade war between the U.S. and China has some wondering if tensions will ever end. As we do the numbers for today (and you know we will), we look at how long the trade war will last. Then: Amazon's delivery ambitions and the potential antitrust case against Apple. Plus, we look at a West Texas community that produces fracking sand, as the market's been drying up.

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