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.

Why is the Epstein Victim List Longer than the Client List?

Bondi said her responsibility is to protect identities of underage girls sexually abused by Epstein, but a good number of victims have come forward.

Stirring the gravy

โ€œYou might be a Pennsylvanian-Italian if you claim Italian ancestry and participated in San Marziale festivities at Holy Angels Church in Kulpmont, PA.

Flood of Lies

The tragedy still unfolding after the historic Texas floods should be cause for unity, but Democrats weaponize the catastrophe for themselves.

Now Lawyers Are Looking for the Epstein List, Too!

So it turns out that when FBI Director Kash...

Remember Epsteinโ€™s โ€œLittle Black Booksโ€?

Image of Bill Clinton getting a massage from Jeffrey...

DOJ Drops Charges Against Utah Surgeon Accused of Dumping COVID-19 Vaccines, Issuing Fake Vaccine Cards

Attorney General Pam Bondi has announced that the Justice Department is dropping charges against Utah plastic surgeon Dr. Kirk Moore.

Federal Judge Orders Trump Admin to Halt Immigration Operations Without Probable Cause in California

A federal judge issued a preliminary injunction temporarily blocking the Trump admin from immigration stops and arrests in LA without probable cause.

More Than 200 Arrests Made During ICE Operations on California Marijuana Farms

About 200 suspected illegal immigrants and four U.S. citizens were arrested after immigration operations were conducted on marijuana farms in Southern CA.

Hackers Target Appleโ€™s Mac Users With New Malware Hidden in Popular Apps

MacOS malware, ZuRu is targeting Apple users, embedding malicious code and a hacking tool into popular utilities used for remote connections and server management.

Trump Announces 30 Percent Tariff on EU, Mexico

President Donald Trump has announced a 30 percent tariff on imports from the European Union and Mexico, to go into effect on Aug. 1, 2025.

Tariff Windfall Drives Surprise $27 Billion US Budget Surplus in June

New data from Treasury Dept show that surging tariff revenues in June helped U.S. government post an unexpected budget surplus of $27 billion.

State Department Says Reorganization Plan to Move Ahead Quickly After Supreme Court Ruling

State Dept to reorganize plans following Supreme Court's allowing Trump admin to proceed with layoffs of fed workers and overhaul of federal agencies.

Trump Says US Has Struck Deal With NATO to Supply Weapons to Ukraine

President Donald Trump said on July 10 that he has struck a new deal with NATO under which the United States will supply weapons to Ukraine
spot_img

Related Articles