1 month ago Associated Press
Large companies targeted to stay in Illinois
From Associated Press:
Once again Illinois lawmakers are considering a list of tax breaks and other incentives to keep some companies in state and attract others — would-be deals that even many supporters say the state needs a more comprehensive method to scrutinize in the future.
The most widely publicized would give up to $24 million to an agribusiness giant, Archer Daniels Midland Company, to keep a new global headquarters in the state. Another would give breaks to the company that emerges from the soon-to-be-completed merger of OfficeMax Inc. and Office Depot Inc., if it chooses Illinois as it headquarters rather than Florida.
Others would give perks to makers of online video games and a chemical distribution company contemplating moving its headquarters to Illinois.
Lawmakers meeting this week in the fall legislative session are typically under pressure to act. But there's no certainty the packages would be approved if they're called for a vote. Illinois' troubled finances make the timing difficult and there are still some doubts about the wisdom of big deals the state has offered other companies in recent years.