BLUE STATE BLUES: Here’s How Much Tax Revenue Illinois Will Lose From Citadel’s Decision To Cut Bait.
Illinois’s richest resident, hedge-fund CEO Ken Griffin, announced on Thursday that he—and his company, Citadel—are packing up shop and heading to Miami, citing a better corporate environment and rising crime rates in Chicago.
The move, which Griffin announced in a letter to employees, will deprive Democrat-run Illinois of hundreds of millions of dollars in annual income tax revenue, a company spokesman told the Washington Free Beacon.
Griffin alone—who is worth approximately $25 billion—pays over $200 million in state income taxes every year, the spokesman said, and Citadel employees have themselves funneled over $1 billion to the state over the past decade.
I’d ask the least person to leave Illinois to turn out the lights, but they’ll probably have gone out before then.