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A new study from the University of Illinois Chicago () shows the fear and isolation caused by a surge in Immigration and Customs Enforcement (ICE) arrests in the last twenty months took a significant economic toll on Chicago. Local businesses lost over $1.26 billion due to the surge, NPR reported. The economic fallout extended far beyond immigrant communities.
Details of Impact
The study found major changes in people’s behavior after January 20, 2025. From that time:- Visits to retailers fell 9%.
- Restaurants lost 10% of their visitors.
- These dips lasted for about a year, and the city has yet to recover.
- Illinois lost an estimated $107 million in tax revenue.