Banking, Finance and Economic Development - Archived Front Page Articles

Banking/Finance/Economic Development

Dealerships pump millions into O'Fallon economy, according to city officials
 

What'll it take to put that automobile dealership in O'Fallon, Ill. today? City leaders and dealership owners agree: the Interstate 64 East corridor in O'Fallon is the place to be.

Illinois banks, credit unions sue state to recover 'egregious' fees
 

Following the Illinois Chamber of Commerce's lead, three financial associations have filed suit against the state of Illinois, challenging the constitutionality of fee increases imposed by Gov. Rod Blagojevich - but Illinois truckers' associations say that for now, they will trust legislators to address the dilemma during the new session.

Study says local stores provide bigger bang for the buck than nationals
 

We would have all been better off if we had spent more of our Christmas shopping dollars with local retailers, according to a recent report by Civic Economics, a consulting firm with offices in Chicago and Austin, Tex. that specializes in economic development consulting and analysis.

Worker's comp costs drive companies out of Illinois
 

Due to spiraling workers' compensation claims in Illinois, manufacturers with locations across the U.S. have to fight to justify their Illinois plants' existence when the subject of cost of business - namely workers' compensation payouts - comes up.

Illinois' workers' comp agency numbers, policies contradict research institute
 

Although a national workers' compensation think tank's statistics show that Illinois employers pay considerably more per claim dollar than other U.S. states, the state agency that governs the system says otherwise, pointing out that the nature of the injury - and the state's primary employment base - are key factors.

Angel investor wants to bring a little of San Jose to Southern Illinois
 

Angel investor Peter Gregory is willing to invest up to $2 million in new or existing businesses in Southern Illinois and has helped devise a business plan contest in an effort to locate promising partners.

Legislators still in dark over FY 2005 capital budget
 

As the Illinois General Assembly's veto session rapidly approaches, legislators closest to the capital expenditure budget process say they have yet to see any preliminary numbers.

GOP rejoices over debt control act
 

Illinois Senate Republicans are hailing the state's first competitively bid bond sale since 1999, made possible by a new law they hope will put an end to Gov. Rod Blagojevich's practice of back-loading debt.

Republicans continue to fight governor's debt plan
 

Although state lawmakers concluded their 51-day overtime session July 24 and Gov. Rod Blagojevich signed the state's $43 billion operational budget seven days later, legislators did not reach agreement on a capital budget - a plan to finance long-term outlays for fixed assets.

Bankers, lobbyists successful in keeping state tax exemption
 

A major piece of banking legislation that would have cost Illinois banks at least a $1 million each annually was defeated in the final days of the 93rd General Assembly, leaving Southwestern Illinois bankers relieved but cautious until next session.

Stalled transportation bill puts peak construction season in jeopardy
 

While some progress is being made in the effort to pass a new federal transportation reauthorization bill, insiders are skeptical whether the bill will be passed in time to save the 2004 construction season.

April stats show job losses slowing, tax and fee hikes still worrying businesses
 

Despite an optimistic picture painted by the Illinois Department of Employment Security's latest statistics, business leaders and economists are concerned about the long-term ramifications the governor's latest tax and fee hikes will have on the "jobless recovery" in Southwestern Illinois and across the nation.

Steel companies prepare for impact of president's tariff removal
 

One of the largest employers in the Metro-East - U.S. Steel Granite City Works, which employs about 2,500 people - is hoping that positive forces in the global economy will offset the negative impact the recently lifted steel tariffs could have on its industry.

Caseyville nets $400 million upscale residential, commercial development
 

The village of Caseyville will soon be the recipient of a massive residential and commercial development.

Governor visits, promises funding for more than 50 area development projects
 

Illinois Gov. Rod Blagojevich delivered $160 million worth of economic development stimuli to Southwestern Illinois in mid December, $130 million of which is tied to improving the region's transportation infrastructure.

Federal funding plans still very much alive for new Mississippi River bridge
 

The new Mississippi River Bridge Project is alive and well, contrary to recently published reports.

Wetland bank offers developers chance to buy remediation
 

Leland Nollau has the answer for developers who want to delegate their wetlands-related worries away.

Working immigrants aided by U.S. financial institutions
 

Mexican immigrants working in the U.S. have grown accustomed to surrendering large percentages of their paychecks to send money back home to their families.

Stability boils down to cash, not reported earnings
 

With all of the corporate bookkeeping scandals in the air, the professionals who rely upon accurate numbers could be getting the jitters about what they see. But that's not the case.

Community banker banks on what counts
 

In 1991, Mark Repking achieved the "corner office," becoming president and CEO of the Bank of Alton. But the detail-oriented accountant didn't lose sight of the forest for the trees. As he looked out his window at the world of banking, he noticed a trend.

Hotels rebound from sluggish economy, lure local tourists
 

Despite 2001, the worst year on record for the hospitality industry, hotels, motels and convention centers across Illinois are surviving - and in some cases, even thriving - due to their location and their ability to react quickly to changes in strategies of the corporate and leisure travelers since Sept. 11.