As further evidence of the need for structural reforms in Illinois, a recent Forbes study shows Illinois as one of the biggest losers in terms of inter-state migration. The article quantifies the financial losses faced by states who are losing residents to other areas. Illinois is ranked as the second worst, trailing only New York. The magazine describes Illinois as a “high tax, high regulation” state and a “low growth disaster.”
The magazine analyzed tax data from 2014, the most recent available, creating an indictment of Illinois’ migration trends during the end of former Governor Pat Quinn’s second term. The author writes that the idea was to create a “snapshot of where Americans are moving now, and, equally important, a breakdown by income levels and age.”
According to the study, New York is the only state losing high-income earners (over $200,000 per year) at a greater rate than Illinois. Looking at all income levels, their data says that Illinois is only gaining 67.2 in-migrants for every 100 people lost to out-migration. The Land of Lincoln also appears to have a hard time holding on to younger residents with the second largest out-migration rate for people aged 26-34.
You can read the full article online.