McHenry Times

Illinois state Rep. Martin McLaughlin (R-Barrington Hills) continues to express the need for more business-friendly policies as another company moves its headquarters out-of-state.

Ken Griffin, once the wealthiest man in the state, has become the latest to relocate outside of Illinois, moving to Florida and taking Citadel with him; MarketWatch reported recently. 

"Chicago will continue to be important to the future of Citadel, as many of our colleagues have deep ties to Illinois,” Griffin told employees in a letter, quoted by MarketWatch. “Over the past year, however, many of our Chicago teams have asked to relocate to Miami, New York and our other offices around the world.” 

Griffin's announcement now makes the third company to leave Illinois. McLaughlin believes there are ways to keep businesses in the state and boost the local economy.

“Illinois can become a leader in economic opportunity but that means we have to implement policies that promote investment, encourage innovation and make life affordable again for all our residents,” he said in a Facebook post, quoted by the Kane County Reporter. “With all the resources that Illinois has, both in terms of technology and workforce, AND with Illinois being a critical Midwest transportation hub, the only reason that our state lags economically is due to anti-business, anti-competitive policies at the state level."

Caterpillar recently announced that it too would relocate its headquarters, moving from Deerfield, Ill., to Irving, Texas; a press release from the company said.

“We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world,” Chairman and CEO Jim Umpleby said in the release. 

In May, Boeing announced it would be moving its headquarters from Chicago to a suburb of Washington, D.C., NBC Chicago reported. Dave Calhoun, Boeing president and CEO, said in a statement that it "makes strategic sense" to be in Northern Virginia. 

A survey by Chief Executive magazine of approximately 700 business owners ranked Illinois 48th overall, among the three worst states in the nation to do business, The Center Square reported recently.

“We’re too corrupt,” Wirepoints president Ted Dabrowski told The Center Square. “Our taxes are way too high. We have way too many regulations and we have massive debts, and that is plenty of reason enough for companies to not want to locate in Illinois, not to mention the state is shrinking in population so it's not a growth state to put your business in.”