What Illinois Business Wants In Rauner's Inaugural Address
From Crain's Chicago Business
When Bruce Rauner gives his inaugural address on Jan. 12, business leaders across Illinois will be listening as closely as anybody.
Business has a lot invested in the governor-elect, a former private-equity executive who spent his entire career in corporate Chicago. His campaign drew widespread support from the business community, including some who lean left politically. Seeing him as one of their own, they expect he'll defend their interests. And they believe his business and financial skills are exactly what's needed to save Illinois from fiscal collapse.
Issues specific and general will be on their minds as he speaks. They're worried about state finances and ethics in government. They're also concerned about income tax rates, workers' compensation rules and a potential increase in the state minimum wage.
Sure, many would like Rauner to lighten the tax load and loosen nettlesome regulations that increase the cost of doing business in Illinois. But they're also concerned about such intangibles as the state's reputation and its future as an attractive place to invest.
So what do they want to hear in that address? The word that kept coming up in my conversations with business leaders is “confidence.”
“The most important thing is that he instills confidence in his leadership,” says Andrew McKenna, chairman of Oak Brook-based McDonald's.
Easier said than done. To win confidence, he'll have to pull off a balancing act of sorts. He needs to provide just enough specifics on his policy agenda to assure business leaders that he shares their priorities. And he needs to show the gumption to fight for his proposals. At the same time, he needs to acknowledge political realities in Springfield by signaling a willingness to work with those who have the power to block his agenda.
Read more in our daily News Update...
From Crain's Chicago Business
When Bruce Rauner gives his inaugural address on Jan. 12, business leaders across Illinois will be listening as closely as anybody.
Business has a lot invested in the governor-elect, a former private-equity executive who spent his entire career in corporate Chicago. His campaign drew widespread support from the business community, including some who lean left politically. Seeing him as one of their own, they expect he'll defend their interests. And they believe his business and financial skills are exactly what's needed to save Illinois from fiscal collapse.
Issues specific and general will be on their minds as he speaks. They're worried about state finances and ethics in government. They're also concerned about income tax rates, workers' compensation rules and a potential increase in the state minimum wage.
Sure, many would like Rauner to lighten the tax load and loosen nettlesome regulations that increase the cost of doing business in Illinois. But they're also concerned about such intangibles as the state's reputation and its future as an attractive place to invest.
So what do they want to hear in that address? The word that kept coming up in my conversations with business leaders is “confidence.”
“The most important thing is that he instills confidence in his leadership,” says Andrew McKenna, chairman of Oak Brook-based McDonald's.
Easier said than done. To win confidence, he'll have to pull off a balancing act of sorts. He needs to provide just enough specifics on his policy agenda to assure business leaders that he shares their priorities. And he needs to show the gumption to fight for his proposals. At the same time, he needs to acknowledge political realities in Springfield by signaling a willingness to work with those who have the power to block his agenda.
Read more in our daily News Update...