Economy

Economy

Mahomet officials decry Rauner proposal to cut sales tax to municipalities

MAHOMET — Gov. Bruce Rauner would like to save the state some cash by reducing funding to local governments. But that could spell trouble for communities like Mahomet, where that funding is crucial.

"The impact for us would be huge," Village Administrator Patrick Brown said this week, as the village's budgeting process gets under way.

Southeastern Container to close Effingham bottle factory

EFFINGHAM, Ill. (AP) — Owners of a plastic soft drink bottle plant in Effingham say they plan to close the factory later this year or early next year.

Flash index takes slight dip, but state's economy still growing

URBANA — The University of Illinois flash index dropped slightly in February, but the statistician who compiles it said the Illinois economy continues to grow steadily.

Economist J. Fred Giertz said the drop from 106.8 in January to 106.6 in February "does not reflect a stalled economy."

Bill Gates repeats at top of Forbes' list of billionaires; Khan at #360

NEW YORK (AP) — The world's richest person got even richer this year.

U.S. Steel to idle Gary Works coke plant, displacing 300

GARY, Ind. (AP) — U.S. Steel has announced it will close the coke-making plant at its Gary Works, displacing about 300 workers.

Assisted-living facility moving forward, hotel still stalled in Rantoul

RANTOUL — Plans are progressing for an assisted-living facility on Rantoul's west side, Village Administrator Jeff Fiegenschuh told members of the Rantoul Economic Development Advisory committee.

U.S. home sales plunge 4.9 percent in January

JOSH BOAK, AP Economics Writer

Building permits, Feb. 22, 2015

Listed are recent permits for all commercial and industrial work, all new single-family and multifamily residences and all residential remodeling over $50,000. Permits are listed by applicant, description, site and cost.

CHAMPAIGN

Updated: Rauner's pension plan not exactly popular at UI

URBANA — The headlines over the pension debate in Springfield focus on billion-dollar shortfalls, last-minute legislative deals, court challenges and an outcry over six-figure pensions.

For Denise Jayne and her co-workers, it's about having a livable income when they retire.