Millennials are refreshingly optimistic about their futures – but unfortunately for Illinois, few young people are building those futures in the Land of Lincoln.
According to Internal Revenue Service, or IRS, data, in 2014, Illinois lost 50,000 more taxpayers – and their dependents – than it gained through migration. Millennials led the exodus. While more than 70,700 taxpayers under the age of 34 moved into Illinois, more than 89,600 moved out. This amounts to a net loss of almost 19,000 millennials in 2014, and more than one-third of the state’s 50,000 net loss to migration across all age groups.
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