Ballard to Illinois Businesses: Come On Over, Our Taxes are Lower!

 Just this week, the Illinois legislature passed a massive tax increase that temporarily increased personal income taxes 66 percent and corporate tax rates from 4.8 percent to 7 percent.  Man, are we glad we don’t live in Illinois.  This week, the City of Indianapolis is aggressively pursuing attracting business from our neighbor state.  

Develop Indy and the Indianapolis Bond Bank funded a full-page ad in three Illinois papers, including the Chicago Tribune.  The ads were funded through private sources and not taxpayer dollars. According to the Indy Star, the ad includes a letter from Mayor Greg Ballard to Illinois business leaders saying,

 “As you consider the impact of large, new state tax increases on your company’s bottom line and ability to hire, I invite you to take a serious look at Indianapolis. The nation’s 13th largest city is right next door, offering the same Midwestern work ethic and conveniences – but in a much more stable, affordable and pro-growth economic environment.”

Melissa Todd of Develop Indy said, “We’ve gotten a lot of responses so far.  I don’t know if they are serious inquiries, but some saw the ad. You can tell the mood is not good there.”  We can only imagine how frustrated business owners in Illinois must be.  It is good to see that the Ballard administration is staying aggressive.  We told you earlier that Indianapolis had a record-setting year of job creation–let’s hope we see even better numbers in 2011.

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About Washington Street Politics
Covering policy and politics from end to end of Washington Street in Indianapolis

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