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Big bang produced by every infrastructure buck, construction experts say

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Illinois casinos were hit hard by the smoking ban that went into effect over a year ago. From Chicago to Metropolis, revenues were down an average of 21 percent. (photo courtesy of The Associated Press)


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By KERRY L. SMITH

   Construction industry analysts are in agreement that President Barack Obama's economic stimulus plan will provide precisely the boost Illinois' building economy needs.
   According to a recent study by the Associated General Contractors of America, for every billion dollars invested in new infrastructure projects statewide, Illinois' gross state product will increase by $63.1 billion. Personal earnings statewide will increase by a total of $19.5 billion for every billion that is invested, the study reports
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  Stephen Sandherr, chief executive officer for the AGC, says the comprehensive new data - which is based on economic research conducted for the association as well as federal data and economic impact estimations - demonstrates the "unmistakable" "As important, these investments will give our economy a global competitive [continue]

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Casino Slump Graphic
Illinois casinos were hit hard by the smoking ban that went into effect over a year ago. From Chicago to Metropolis, revenues were down an average of 21 percent.

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Cities, state, schools socked by smoking ban impact on casino revenues
By ALAN J. ORTBALS

   Illinois’ statewide smoking ban that went into effect Jan. 1, 2008 has had a devastating impact on the casino industry, according to Tom Swoik, executive director of the Illinois Casino Gaming Association.
   Adjusted gross receipts for the nine operating gambling boats in the state took a nosedive in 2008, dropping nearly 21 percent from the previous year.
   While some point to the downturn in the economy, Swoik doesn’t buy that rationale. He says most states are not showing a   [continue]

Legislation proposes 42 percent hike in Illinois’ motor fuel tax
                                                                              By ALAN J. ORTBALS

  With the new legislative session comes a new proposal to fund a capital development budget in the state of Illinois. State Rep. John Bradley, a Democrat from Marion, has filed HB 1, a bill that would raise the state’s motor fuel tax 8 cents - a 42 percent increase over the current 19 cent-per-gallon rate.

   “We have a lot of needs in the state,” Bradley said. “There are bridges that are in need of repair - we have real safety concerns. And then there’s the fact that this could potentially create jobs in tough economic times. The creation of jobs and building programs is a way to dig out of this recession and depression.”

   Bradley estimates that the 8-cent increase would generate somewhere between $500 million and $600 million per year. This revenue stream, he says, would support about $6 billion in bonded debt.   Bradley says the previously proposed $34 billion capital development program - that would have been financed through leasing the lottery and   [continue]

Gas Pump

Illinois' gas tax would jump 42 percent if House Bill 1 becomes law later this year. Critics say it is not only unfair but also unwise as it will push more sales and sales tax dollars to neighboring states. (photo courtesy of The Associated Press)

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