Businesses Flee Illinois to Escape Blue-State Stagflation

Contact Your Elected Officials
Newsweek Header

Chicago enjoys well-deserved fame for its restaurants and cuisine. Some of the less-than-healthy eating habits of Chicagoans earned the satire of Saturday Night Live’s legendary “Superfans” skit. In those hilarious bits, exaggerated Chicago Bears die-hards down Old Style brews along with Chicago-style hot dogs and beefs.

Perhaps the most famous purveyor of such fare, Portillo’s, began in 1963 as a humble hot dog stand in Villa Park, IL. It was founded by Marine veteran Dick Portillo and through hard work and terrific recipes, his business blossomed into a successful chain that now thrives as a publicly traded company on the Nasdaq.

Recently the Illinois-headquartered company announced aggressive expansion plansโ€”only, not close to home. In fact, Bloomberg News reports that this “beloved Chicago restaurant chain is looking outside Illinois for growth as population declines drive business elsewhere.”

The CEO of Portillos, Michael Osanloo, gotย specificย on why the company now focuses on states like Arizona, Texas, and Florida: “We’re going to places where the population is growing, where the economies are healthy, where there is a great environment for companies.”

Mr. Osanloo was too polite to directly criticize Illinois’ environment for consumers and businesses, but his indirect slight speaks volumes. Like so many regular citizens of Illinois, companies now “vote with their feet” by choosing to either relocate entirely to red states, or to at least invest forward-looking resources into those states, to the detriment of Illinois.

Stagflationโ€”high inflation and stagnating growthโ€”afflicts all of America, thanks to the exorbitant profligacy ofย Joe Bidenย andย Nancy Pelosi, plus their radical assault on domestic American energy. But the financial pain is more acute in blue jurisdictions like Illinois.

When it comes to the inflationary component of stagflation, Governor JB Pritzker takes the crisis of his political pal Joe Biden to a new level for Illinois residents.ย 

By Steve Cortes

Read Full Article on Newsweek.com

Newsweek
Newsweekhttps://www.newsweek.com/
Newsweek is a news magazine and website providing latest news, in-depth analysis and ideas about international issues, technology, business, culture and politics.

Sweeney Swoon

Sydney Sweeney donned American Eagle jeans and hawked them as part the "Sydney's got great jeans" campaign, and the Left acted like she'd committed an atrocity.

Lay Democrats to Waste, Post Truths in Copy and Paste!

Senator John Kennedy (R-LA) humorously stated, โ€œOur secret plan for dealing with the Democrats is called, โ€˜Operation: Let them speak.โ€™โ€

Congress doesnโ€™t Care What the Average Person Thinks

In researching voting rights issues, a study provides a foundation for the statement โ€œgovernment officials donโ€™t care what people like them think.โ€

Domestic Terrorists Rain Adult Toys on WNBA Courts in Multiple Aerial Assaults

In what might be described as the worst terrorist attack on American soil since 9/11, multiple WNBA courts have been pelted with brutal flying missiles.

Democrats Are In Disastrous Shape As Midterms Loom

According to CNN's Harry Enten, โ€œThe Democratic brand is in the basement. It is total and complete garbage in the mind of the American public.โ€

US Will Build Nuclear Power Plant on Moon, Acting NASA Chief Duffy Says

NASAโ€™s Sean Duffy said the US was planning to build a nuclear reactor on the lunar surface as part of the Artemis campaign to return and stay on the moon.

Tennessee Police Nab Quadruple Murder Suspect After Multiple-Day Manhunt

Police in Jackson, Tennessee, have taken murder suspect Austin Robert Drummond into custody after a multiple-day manhunt.

DOJ Asks Judges to Unseal 5 Days of Epstein and Maxwell Grand Jury Testimony

The Justice Department (DOJ) has requested transcripts of grand jury testimony of convicted sex traffickers Jeffrey Epstein and Ghislaine Maxwell.

Rwanda Agrees to Accept 250 Deportees From US Under Third-Country Plan

Rwanda has struck a deal to accept up to 250 deportees from the United States as part of a third-country deportation plan.

Trump to Sign Order Penalizing Banks That Discriminate Against Conservatives

President Trump confirmed that he will sign an EO aimed at penalizing banks he claims have discriminated against conservatives, including himself.

Trump Says Semiconductor Tariffs Could Come Next Week

President Donald Trump said he will soon release details of new tariff plans for semiconductors and chips.

Trump Vows to โ€˜Substantially Raise Tariffโ€™ on India Over Russian Oil Imports

Trump said he would โ€œsubstantiallyโ€ raise tariffs on goods from India, citing countryโ€™s continued purchase of Russian oil despite his demand that it stop.

European Union Suspends US Tariff Countermeasures for 6 Months

The EU will suspend its two packages of countermeasures to U.S. tariffs for six months, a European Commission spokesman said on Monday.
spot_img

Related Articles