Contact:
Bill McCoshen
Executive Director
Competitive Wisconsin, Inc.
(608) 258-8411
Illinois tax hikes could attract businesses to Wisconsin
(MADISON) – Wisconsin business leaders say recently approved Illinois income tax increases are in sharp contrast to Governor Walker’s steps to support existing and future Wisconsin businesses.
The approved Illinois tax increase will raise personal income taxes there by 67 percent and corporate income taxes by 46 percent. Critics of the tax increases say the measure could drive businesses out of Illinois and across the border. Wisconsin Governor Walker has laid out the welcome mat and declared that “Wisconsin is Open for Business.”
Leaders of Competitive Wisconsin, Inc. support Governor Walker’s efforts to make Wisconsin more business friendly through economic development activities, tax decreases and budget cuts. Since taking office, Governor Walker has taken several steps to create jobs and enhance economic development including calling a special legislative session to address job creation; the establishment of the Wisconsin Economic Development Corporation to replace the Wisconsin Department of Commerce; calls for lower taxes; and efforts to reform the state’s regulatory and litigation climate.
“Competitive Wisconsin’s directors and members are impressed and pleased with the Governor’s rapid and bold leadership,” said Sue Marks, president and CEO of Pinstripe, and chair of Competitive Wisconsin, Inc. “For too many years, Wisconsin has taken the competitive hits when it came to business climate. It is refreshing – like a breath of fresh air – to see Governor Walker not only talk about the need to help our businesses create the jobs we all want, but to make clear that Wisconsin is back in the competition game, big time. He is the state’s biggest cheerleader and rainmaker.”
Competitive Wisconsin leaders say improved state revenue projections and job creation forecasts underscore the promising potential for economic development in the state. Business leaders say the Illinois tax increases will add another incentive for businesses to locate in Wisconsin.
“Wisconsin is poised for significant job growth. We have the strong workforce, abundant resources and diverse base needed to help businesses thrive. The governor’s support of economic development is good news for the business community and everyone who lives and works in Wisconsin,” said Bill McCoshen, executive director of Competitive Wisconsin, Inc.
Competitive Wisconsin, Inc. (CWI) is a nonpolitical consortium of agriculture, business, education and labor leaders in Wisconsin who work together to focus attention on the state’s competitiveness. CWI’s mission is to improve the economic climate of Wisconsin in order to encourage the expansion of existing businesses and enhance the possibility of developing and attracting new business.
