Business Report: Springfield Airport Numbers Up; Downtown Gathering Space; Tax Base Getting Older

Feb 14, 2017

Credit flyspi.com

Sean Crawford talks with Tim Landis, Business Editor for the State Journal-Register.

* Gathering space: Illinois Realtors latest to seek money from downtown tax increment financing district. Realtors asking for $1 million toward $2.6 million cost of proposed Bicentennial Plaza between Fifth and Sixth, north of Realtors headquarters.

* Springfield airport: Nearly 196,000 passengers in 2016 was highest number in 12 years; attributed to greater use of the three airlines, United to Chicago, American to Dallas-Fort Worth and Allegiant to Florida.

* Aging tax base: Number of 65 and ups taking advantage of Senior Homestead Exemption ($5,000) passed 14,000 in Sangamon County last year; the problem is not enough younger folks coming in the other side to off set effects on property tax revenue. It has implications for all sorts of local taxing districts but mostly schools, which receive 60 percent of the revenue and reflects the larger regional and statewide problem of slow or declining population.