Some six businesses in the northern Chicago suburbs already have met with officials from the Milwaukee 7 economic development consortium, said Pat O'Brian, director of business strategy at the seven-county M-7 group.
At an M-7 meeting Friday, O'Brian noted that Illinois recently hiked personal income taxes from 3% to 5% and corporate tax rates from 4.8% to 7.0%, representing increases of 67% and 46%, respectively. M-7 staffers believe that Illinois business leaders have a sudden new reason to take a hard look at Wisconsin's housing and land costs as well as its workforce.
Of course, Wisconsin's tax rates are not exactly........ahhh........miserly.
But it's not 2012 these businesses are looking at.
It's 2014, 2026, and 2020."Many businesses are saying, 'Why would I want to invest in a state that is bankrupt?'"