Toyota's Jilting Of California A Jolt To Illinois
From the Chicago Tribune
Sometimes they just leave. Without warning, they announce it's over before you can beg and plead and promise. They tell you they've found a better fit, a partner that does things for them you haven't or can't. So they're moving on and taking part of you with them.
That's what Toyota did this week to California. Anyone who worries about business in Illinois should take heed. Divorce is rampant these days.
The Japanese carmaker, which gained a foothold in America through its relationship with Southern California, abruptly announced it will shift around 3,000 marketing and finance jobs from Torrance, Calif., to Plano, Texas, where it's establishing a new North American headquarters outside Dallas.
Kentucky, which learned it's losing another big block of jobs to the Lone Star State, got blindsided by the sudden breakup as well.
Here in Illinois, where the lengthy list of benefits for business is matched by an equally long collection of liabilities, there's reason to fear we're at least as vulnerable to get a Dear John Inc. letter. Concerns include government dysfunction, fiscal concerns and ever-changing tax schemes, along with protections for its citizens that businesses don't face in other states.
"The sad part is we have a lot going for us," said Rob Karr, president and chief executive officer of the Illinois Retail Merchants Association. "We're centrally located. We have good transportation infrastructure, good access, research universities, a world-class city and financial systems. But this uncertainty is starting to permeate everything and frankly blur those advantages."
Mark Denzler, chief operating officer of the Illinois Manufacturers' Association, said companies weighing whether to come to Illinois or stay here are apt to look at the state's fiscal mess and worry they'll have to help with the bailout.
"Then they look at taxes," Denzler said. "I used to make the comment that when it came to Illinois' tax policy, Charlie Sheen is more stable. So when they're trying to plan, they see this and they see no stability or certainty in Illinois."
Read more in our daily News Update...
From the Chicago Tribune
Sometimes they just leave. Without warning, they announce it's over before you can beg and plead and promise. They tell you they've found a better fit, a partner that does things for them you haven't or can't. So they're moving on and taking part of you with them.
That's what Toyota did this week to California. Anyone who worries about business in Illinois should take heed. Divorce is rampant these days.
The Japanese carmaker, which gained a foothold in America through its relationship with Southern California, abruptly announced it will shift around 3,000 marketing and finance jobs from Torrance, Calif., to Plano, Texas, where it's establishing a new North American headquarters outside Dallas.
Kentucky, which learned it's losing another big block of jobs to the Lone Star State, got blindsided by the sudden breakup as well.
Here in Illinois, where the lengthy list of benefits for business is matched by an equally long collection of liabilities, there's reason to fear we're at least as vulnerable to get a Dear John Inc. letter. Concerns include government dysfunction, fiscal concerns and ever-changing tax schemes, along with protections for its citizens that businesses don't face in other states.
"The sad part is we have a lot going for us," said Rob Karr, president and chief executive officer of the Illinois Retail Merchants Association. "We're centrally located. We have good transportation infrastructure, good access, research universities, a world-class city and financial systems. But this uncertainty is starting to permeate everything and frankly blur those advantages."
Mark Denzler, chief operating officer of the Illinois Manufacturers' Association, said companies weighing whether to come to Illinois or stay here are apt to look at the state's fiscal mess and worry they'll have to help with the bailout.
"Then they look at taxes," Denzler said. "I used to make the comment that when it came to Illinois' tax policy, Charlie Sheen is more stable. So when they're trying to plan, they see this and they see no stability or certainty in Illinois."
Read more in our daily News Update...