Illinois has become famous for producing Barack Obama, but now another sort of fame is in the news. The Illinois Policy Institute has come out with a devastating report on “the state of Illinois”:
Illinois residents are fleeing the state. When people leave, they take their purchasing power, entrepreneurial activity and taxable income with them. For more than 15 years, residents have left Illinois at a rate of one person every 10 minutes.
Recent data from the Internal Revenue Service shows that, in 2009, Illinois netted a loss of people to 43 states, including each of its neighbors – Wisconsin, Indiana, Missouri, Kentucky and Iowa. Over the course of the entire year, the state saw a net of 40,000 people leave Illinois for another state.
The data reflects a continuation of a trend of out-migration from Illinois that has lasted more than a decade. Between 1995 and 2009, the state lost on a net basis more than 806,000 people to out-migration.
When people leave, they take their income and their talent with them. In 2009 alone, Illinois lost residents who took with them a net of $1.5 billion in taxable income. From 1995 to 2009, Illinois lost out on a net of $26 billion in taxable income to out-migration.
Illinois lost one person every 10 minutes between 1995 and 2009. Will the people who stay in Illinois demand reform before more wealth and jobs leave the state?