Wintrust Business Minute: Report says Illinois is the worst at keeping affluent people

Wintrust Business Lunch

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

A new report says two high-income earners leave Illinois for every one that moves into the state. According to the data, compiled by the Cato Institute, Illinois is the worst at keeping affluent people. The Cato report, titled “Interstate Migration of High Earners and Retirees,” uses Internal Revenue Service data. Florida was on top. For every higher earner who leaves the Sunshine State, nearly three move in. The report shows Illinois is also near the bottom of the states for retention of people 65 and over. A separate analysis shows the lost income from all Illinois out-migration at about $10 billion in recent years.

Also, the U.S. Environmental Protection Agency has issued an emergency order that lifts summer fuel requirements in Illinois and three other Midwest states. Listen for more below:

https://serve.castfire.com/audio/5481937/5481937_2024-08-02-174437.64kmono.mp3

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