* SJ-R business editor Tim Landis on the impact of a potential AFSCME strike on Springfield and the surrounding area…
“If you talk to anybody, any member in any field, and anybody who watches tax revenue, there is this massive amount of uncertainty accruing,” Bill McMahon, executive director of Local First Springfield, said Thursday. […]
Not only are consumers affected, said McMahon, businesses are reluctant to expand and hire as a result of the uncertainty.
“Everyone is waiting for things to settle out,” said McMahon. “It’s all the things you feel like in a recession.” […]
The anxiety is evident in spring and fall surveys of local business sentiment by the Survey Research Office at the University of Illinois Springfield. A little less than half of business owners surveyed in the fall expected sales to increase in the coming year compared with nearly 70 percent who made that prediction in the fall of 2015. In the most recent survey, 56 percent cited state finances as the biggest challenge in the coming year.
Springfield officials, including Mayor Jim Langfelder, recently have blamed the uncertainty of state finances for an estimated $1.3 million shortfall in sales tax revenue for the fiscal year that ends Tuesday.