BY MONICA STABILE In 1868, John Dean Gillett was known as the “Cattle King of the World.” The influential businessman was a close friend of Abraham Lincoln and was known for, among other things, developing the Shorthorn cattle breed. He established his farm on Elkhart Hill, north of Springfield, and after being in the family […]
Monica Stabile
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Anheuser-Busch sues Chick Fritz in distribution dispute
BY MONICA STABILE Springfield business Robert ‘Chick’ Fritz Inc. is being sued by Anheuser-Busch for refusing to give up the right to distribute several European brands of beer. The federal lawsuit and a counterclaim by Chick Fritz question the application of a state law regulating beer distribution. Anheuser-Busch filed its complaint at the end of […]
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Medical cannabis industry sees room to grow
BY MONICA STABILE Employment in Illinois’ medical marijuana industry has more than doubled in one year, resulting in millions of dollars in annual economic output for the state. One industry group says the program is capable of even more. The Illinois medical cannabis pilot program has generated $147.8 million in annual economic activity, in addition […]
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Substitute medical marijuana for opioids, supporters say
BY MONICA STABILE Supporters of medical cannabis hope to expand the number of conditions currently covered under Illinois law to help reduce the number of people who overdose on opioid drugs. There were more fatalities in Illinois from opioid drug overdoses than from homicides or car accidents in 2014, according to the latest data from […]
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Illinois Senate advances update to ‘genetic privacy’ law
By Monica Stabile Legislation that protects employees from having to disclose their genetic testing information to employers was unanimously approved Tuesday by the Illinois Senate. An update to Illinois’ Genetic Information Privacy Act was passed this week, in direct response to controversial legislation in Congress which would allow companies to penalize workers who refuse to […]
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Home builders protest tax on repair service
By Monica Stabile The Home Builders Association of Illinois spoke out Tuesday against service tax legislation which they say would cause a loss of more than 500 jobs and almost $8 million in state revenue. Meanwhile, the bill’s sponsor says she would change the proposal if other lawmakers would agree. The proposal being considered by […]
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Illinois considers entrepreneur ‘learner’s permit’
By Monica Stabile Legislation to provide financial incentives for first-time business owners was approved Wednesday by the Illinois Senate. Dubbed the “Entrepreneur Learner’s Permit,” the pilot program hopes to boost small business growth by reimbursing some licensing and permit costs to first-time business owners. Entrepreneurs who qualify for the program include new information services, biotechnology and […]
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Legalized recreational marijuana could boost state revenue
By Monica Stabile State lawmakers are exploring the possibility of a budding industry to create an additional revenue source for Illinois by legalizing recreational marijuana. Chicago Democrats Sen. Heather Steans and Rep. Kelly Cassidy have proposed a measure that would allow adults aged 21 and older to possess, grow and purchase marijuana as long as […]
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Bill would claw back tax breaks for businesses leaving Illinois
By Monica Stabile Illinois House Democrats passed legislation on Monday that would require businesses which move all or part of their operations out-of-state to repay money from tax breaks. The Keep Illinois Business Act would preserve taxpayer’s money by preventing companies from “abusing” Illinois tax incentives and hurting economic development, said Rep. Michael Halpin, the […]
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Ryan budget threatens federal tax credit for historic preservation
By Monica Stabile In 1981, President Ronald Reagan signed the Historic Rehabilitation Tax Credit into law as part of the Economic Recovery Act. Since then, the credits have been used to repurpose more than 40,000 historic buildings across the nation, including 253 such buildings in Illinois and several in Springfield. “Our historic tax credits have […]
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Senate Republicans offer budget plan without new revenue
By Monica Stabile Illinois Republican senators called for an immediate state government spending cap and a 10 percent spending cut to all government agencies in a new state budget plan unveiled Tuesday. The plan comes after Republicans scuttled a “grand bargain” budget plan last month, to the frustration of Democrats in the chamber and Senate […]
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Charter schools could see expansion
By Monica Stabile A comparison of standardized testing results by the Springfield Business Journal shows traditional public schools outperformed charter schools on average in the 2014-2015 school year. Meanwhile, charter schools and school choice programs nationwide may see a boost in funding if President Donald Trump’s budget is approved by Congress. The push to expand […]