Sen. Andy Manar, D-Bunker Hill, is the sponsor of a Senate bill to give ADM a tax credit in exchange for creating new jobs in Chicago and Decatur, if the company moves its global headquarters from Decatur to Chicago.
While much of the attention was focused on pensions, state legislators yesterday also dealt with measures intended to get a trio of companies to call Illinois home. But they only got halfway there.
Decatur-based Archer Daniels Midland is shopping for a new world headquarters. The agribusiness giant may well choose Chicago; but it wants a tax break from Illinois, like in a measure approved by the Senate.
A Senate panel has approved legislation that would give tax incentives to two of Illinois biggest corporations — Office Depot and Archer Daniels Midland.
ADM says it's moving its head office from Decatur to a larger city.
Chicago is thought to top the list of alternatives, but the company has also checked out Minneapolis and Atlanta. That said, ADM executive Gregory Webb told senators the company would prefer to stay in Illinois.
"We have 17,000 North American employees, and 4,500 of them are in Decatur. So Illinois is a preference," Webb said.
Director of Illinois' Department of Commerce and Economic Opportunity testifies at the House revenue committee about tax incentive options offered to companies looking to locate to Illinois, or threatening to leave the state.
State legislators are advancing a measure that attempts to lure chemical plant jobs to Illinois, but broader plans to offer companies like ADM incentives are not ready just yet.
Archer Daniels Midland is the highest-profile case of a company looking for a tax break from the state, in exchange for creating jobs. In ADM's case, the company is looking to move its global headquarters from Decatur to ... maybe Chicago, maybe a city in another state.