Lake County Gazette

Illinois State Rep. Tom Weber (R- Lake Villa) has criticized a budgetary move to give Gov. J.B. Pritzker (D-IL) a $400 million "closing fund" to help lure businesses; Weber argues that the state already punishes and scares companies away.

In a Facebook Post Jan. 10, Weber shared a Chicago Tribune article, issuing a statement against the slush fund.

"Illinois only needs a deal-closing fund, a bribe essentially, to attract businesses because of how poorly Illinois treats businesses while they’re here. Ask yourself why Illinois would need a slush fund to be competitive." he posted. "We’ve got a talented workforce, we’re the crossroads of America (both figuratively and literally via rail, air and truck), and so many other enticements. Yet companies are leaving, and we need to give hundreds of millions in taxpayer money to get new businesses to come here."

Weber pointed to the Tribune article, which noted that several companies moved their corporate headquarters in 2022, such as investment firm Citadel, which moved to Miami. Caterpillar relocated from north suburban Deerfield to the Dallas suburb of Irving, Texas. And Boeing moved to Arlington, Virginia, after more than 20 years in the West Loop.

"You know what’s attractive to companies?" Weber said. "A state that doesn’t punish businesses, a state that doesn’t jack up the cost of doing business, a state that doesn’t put unduly burdensome regulations on how they operate."

Insurance Giant Allstate --  the fourth-largest Fortune 500 company in the Chicago area -- moved out of its famous headquarters, and it has resisted the city's efforts to convince the company's headquarters to move downtown, the Tribune reported.