The Illinois Chamber of Commerce is working for all sectors of state economy
A prouder state to do business in is none other than Illinois. Not only is Illinois known for its thriving corporate culture, but also for its rich agricultural regions that spread across counties that promise to feed the world and power a variety of economic sectors.
The state's capital city of Springfield, revered as the "Land of Lincoln," continues to be a place for passionate debate. Every company we represent, including numerous associations and local Chambers of Commerce, are all actors in this scene. We are proud to fight for the interests of all sectors of the Illinois economy. We represent the business voice.
At the Illinois Chamber, we have two office locations. One is in downtown Springfield near the Capitol complex and the second office space in downtown Chicago. Most of the Illinois Chamber's educational seminars take place in and around Chicago.
Small business owners and HR professionals have an opportunity to take advantage of this service and to obtain the knowledge they need to comply with the constantly evolving employment and labor legislation. The Illinois Chamber hosts over 60 webinars and more than 30 seminars throughout the state each year, mainly in the northern suburban area. Some of the topics include anything from OSHA updates to management training. In addition to state standards, Chicago and its surroundings frequently have additional rules and regulations.
Chamber Vice President of Business Services Laurie Silvey is responsible for helping businesses in Illinois remain in compliance through various training programs.
Through a special framework that arranges our policy debates, the chamber ensures we remain in touch with the values and interests of our members. The eight issue councils of the chamber function as "chambers within the chamber."
These councils determine the chamber's agenda and enable the focus and knowledge that make it effective with the public, the media, and policymakers. Two examples of this advocacy could be seen in action in just the past few weeks.
The Illinois Chamber, joined by other business groups and labor interests, was able to come to an agreement that will save Illinois employers of all sizes nearly a billion dollars in unemployment insurance taxes.
The objectives of the Illinois Chamber during the negotiations were to lessen tax increases on employers, establish better predictability for employers and bring greater stability to the Unemployment Insurance Trust Fund. The agreement reduces employer taxes by $913M over the next five years.
The Trust Fund Year End Balance over the next five years is estimated to remain above $1.5 billion. At the beginning of 2020, the Illinois UI Trust Fund was over $2 billion. With the COVID pandemic taking hold and mandatory business shutdowns, the trust fund plunged to a deficit of over $4.5 billion requiring borrowing from the federal government.
Another example of our work that we mentioned in a previous column is the Transportation Network Providers Act (TNPA), an Illinois statute that allows ride-sharing companies like Lyft and Uber to operate in Illinois. Ride-sharing companies are vital for the state's economy and help connect customers to small business products and bring riders to suburban stores of all sizes.
They create tens of thousands of well-paid jobs and help both business travelers and tourists get around Illinois. The TNPA was scheduled to expire on Jan. 1. The expiration of the TNPA would have been a disaster for Illinois. While an extension should've been expected, the trial lawyers sought to remove essential liability protections. The Illinois Chamber sought a one-year, clean (i.e. unaltered) extension of the TNPA and drafted a letter to the legislative leaders.
To provide services to our members, the Chamber's executive directors compose weekly newsletters that provide the most up-to-date information on timely and relevant topics within each committee.
In addition to the weekly newsletters, each council director is responsible for hosting quarterly meetings for its members. Members of the Illinois Chamber are provided with direct connections to policymakers, elected officials, and others of influence.
The Illinois Chamber is the largest general business advocacy organization in the state, and we want to be your voice. Whatever the size of your business and issues may concern, we welcome you to join us.
• Todd Maisch is president and CEO of the Illinois Chamber of Commerce.