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* Two Illinois-centric takes: 1) Cook County has remained one of the nation’s most robust economic engines for decades; and 2) Illinois used to be the home to lots more engines than just Cook, but we’re definitely not alone as new business startups are increasingly confined to fewer high-density counties while far fewer new businesses are being established…
This graphic is kind of blowing my mind today. It's amazing, troubling, and I don't quite know what to do with this information. pic.twitter.com/JxaRsWvJTa
— Karin Robinson (@karinjr) December 8, 2016
More info and data can be found here.
posted by Rich Miller
Thursday, Dec 8, 16 @ 3:07 pm
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Previous Post: CPS board approves budget with $215 million hole, Republicans edgy about vote
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This data does not support what Rauner has been stating about IL, and that is a good thing. However, the sad part is, Chicago and the Chicago metro area is the only place where IL is doing well - job wise.
Comment by MAMA Thursday, Dec 8, 16 @ 3:17 pm
Lot of wide open spaces there. Rural America has been depopulating for decades, as technology advances continue to reduce the demand for labor in agriculture and manufacturing.
And now in Illinois, we’re busting out higher ed, the economic engine and hope for much of Downstate.
The governor is selling snake-oil on manufacturing, while doing real damage to institutions that can drive growth.
http://www.wsj.com/articles/SB10001424052702303325204579463761632103386
http://www.chicagomag.com/city-life/February-2016/Where-Is-Illinois-Losing-Population/
Comment by wordslinger Thursday, Dec 8, 16 @ 3:22 pm
Two takeaways:
Despite the often-pushed message of Illinois going down the tubes in 2010-2014, these date show that we outperformed most other states, and all other Northern ones, in new business growth.
The concentration of growth in big city and suburban areas is due to the clustering of highly technical labor and industries. Even with modern communications infrastructure, companies choose to start and grow where similar companies and target employees abound.
Higher education and cultural attraction remain key investment areas.
Comment by walker Thursday, Dec 8, 16 @ 3:32 pm
I have talked to a few Loop employers, and they almost universally state that CTA, Metra and the South Shore, and to some extent the expressways, allow them to draw from a bigger talent pool than if they were located out in the burbs. Some employers even pay their employees a transportation stipend. Of course, there is ex-migration from the Loop when a suburban employee finds something that pays well closer to home. In either case, that’s where the action is. If you are too far flung, you had better have a wage, tax, natural resource, transportation or other advantage, or be VERY good at what you do, or you won’t be able to make a very good go at it.
Comment by Six Degrees of Separation Thursday, Dec 8, 16 @ 3:45 pm
You need capital to start a business. As capital becomes more closely held and concentrated in urban locations, so do the jobs.
Comment by hisgirlfriday Thursday, Dec 8, 16 @ 3:49 pm
Thanks for sharing the report link. It’s striking data, and explains why so many areas feel threatened. With most of the growth and recovery concentrated in a few large counties, the news that “everything is failing and you need outsiders to turn this around!” is an affirmation of what they see everyday.
Comment by Fairness and Fairness Only Thursday, Dec 8, 16 @ 3:55 pm
From page 14 of the report:
Only 8% of Illinois residents lived in counties where jobs grew at least equal to the national rate.
Comment by Ebenezer Thursday, Dec 8, 16 @ 4:01 pm
@hisgirlfriday
==You need capital to start a business. ==
Capital is the easy part. A compelling idea, and the right team to execute it are harder.
Capital is dying to invest in quality teams with promising ideas, they are very hard to find. Both the ideas and people are easier to find in certain big cities today.
Comment by Ebenezer Thursday, Dec 8, 16 @ 4:07 pm
We could fix that. Give every bill introduced in the GA a business.
Seriously, though, how useful is this metric if the hottest startup is lumped in with Joe’s dodo bird clinic. And if we add 500k businesses a year for long enough, every man, woman, and child will have one. Making the ones we have more successful seems like a better goal.
Comment by thechampaignlife Thursday, Dec 8, 16 @ 4:46 pm
Does this also show what happens when we allow monopolies to take over, it’s much harder for the little guy to pull up those bootstraps?
Yes, it’s easier in Cook County because the county and Chicago enjoy transportation, a much larger pool of talent, the ability to take risks that others would not feel safe doing?
Comment by Union Thug Gramma Thursday, Dec 8, 16 @ 7:19 pm
Find the growth of growth areas in FL to be interesting.
Comment by Oneman Friday, Dec 9, 16 @ 9:18 am