ICE raids fear drains $1.26 billion from Chicago-area businesses, study finds
Location: Chicago, IL
A University of Illinois Chicago study found that fear of ICE raids beginning in early 2025 caused a sharp drop in movement between immigrant and non-immigrant neighborhoods in Cook County. Researchers estimate the resulting decline in retail and restaurant visits cost local businesses about $1.26 billion and cost Illinois $107 million in lost tax revenue. The effect persisted for a year, challenging assumptions that immigrant communities are economically isolated from the broader area.
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