Tag Archives: Illinois

Rust Belt Revival: Leveraging incentives to win jobs and investment

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incentivesincentives
We can all agree that 2017 was a year of transition, as governments, corporations and individuals all adjusted to the new presidential administration. Prioritizing job creation, some states tweaked or introduced new tax incentive legislation last year, beginning close to home with the updated Economic Development for a Growing Economy (EDGE) Tax Credit Program in Illinois.

The new EDGE, signed into law in September 2017, focuses on both job creation and retention, corporate expansion in underserved areas and increased transparency and accountability on both sides of the agreement. In Michigan, the state’s new Good Jobs for Michigan incentive program offers employers with eligible projects the opportunity to retain all or a portion of employee withholding taxes for a set period of time.… Read More

NAFTA’s unexpected impact on Illinois

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Representatives from Canada, Mexico and the U.S. recently entered into the fourth round of negotiations on the North American Free Trade Agreement. While interests are wide-ranging and competing, the major focus has been on “rules of origin,” which look at the location breakdown of where products are manufactured to determine trade statistics, procurement and preferential treatment.

As negotiations continue, the State of Illinois, its economy and its real estate could be affected in good, bad and surprising ways:

The singularity is near

NAFTA

While some argue that the U.S. has lost 350,000 manufacturing jobs since 1994 due to trade with Mexico, others note this decline started well before NAFTA began. Tracking employment against manufacturing output is the most telling, as we’re seeing a sharp increase in productivity, despite fewer jobs. The answer: Robots and automation are making U.S. manufacturing more efficient. It’s not “Westworld,” but maybe it’s not far off..

Illinois is increasingly exposed

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Budget backlash for Illinois industrial? Nope…

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budget

Welcome to Episode 6 of JLL Chicago Industrial – Real Time, our Industrial Research podcast. In this episode:

  • Sure, taxes are up, but there are more positives than we think
  • Illinois isn’t the only state grappling with significant long-term obligations
  • Investors can’t ignore Chicago’s universal truths as the nation’s transportation hub, second-largest industrial market by square footage and largest inland port

Hosted by: Industrial market research experts George Cutro and Chad Buch

Featuring: Research and economics pro Christian Beaudoin

Listen to this 10-minute podcast with the player above or click here.

Know someone who’d like to listen? Post to LinkedIn.

Interested in hearing more industrial real estate insights? Listen to all podcast episodes here.… Read More