If anyone in Chicago or Springfield still denies that this state's sorry record of corruption and taxpayer debt is costing Illinois excellent jobs, take it from billionaire Nassef Sawiris.
The University of Chicago grad heads a global firm, Orascom Construction Industries, the biggest company in Egypt. He has set out to build a giant new plant to make fertilizer from natural gas in America's agricultural heartland.
Illinois and Iowa competed aggressively for the $1.4 billion project, which will create hundreds of precious, stable, good-paying jobs. Both states offered lavish incentives.
In the end, Illinois came up with the better package, according to Sawiris. Its tax code, tax rebates and the other breaks it offered were "financially superior" to the package proposed by Iowa, he said. Besides, Sawiris confided, he feels a sentimental attachment to Illinois, thanks to the education he received at Chicago.
Nevertheless, he chose Iowa for his investment, at a site just four miles from the Illinois border.
Why? Regular readers of this page already know the answer. Illinois is broke, with some $200 billion in debts and unfunded obligations. Any employer who locates here essentially volunteers to help pay for yesterday's excessive spending and reckless promises. What's more, many public officials have besmirched Illinois' reputation with their criminal activity. So convincing a shrewd and sophisticated multinational firm to invest long term in Illinois is a tough sell.
Go read the entire article. Iowa has a lot of fun at the expense of Illinois, including pointing out that just about all of their ex-governors aren't in prison. But what isn't fun is the sheer numbers of companies relocating just outside of Illinois borders in Wisconsin and Indiana or even the long distance campaigns of places like New Jersey and other states to lure away Illinois employers.