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.
Advocates pass out fliers promoting it during the Pride Parade in Chicago over the summer; despite an intense campaign to legalize same sex marriage in Illinois, the legislation's sponsor remains tight-lipped about whether he has the 60 votes needed for it to pass in the House.
For the first time since a brief special session in July,legislators will begin making their way en masse to Springfield this week, for the fall veto session. The agenda before them is relatively light. The General Assembly will likely debate some budget matters. And there's a hearing on a new type of health care coverage for retired state employees. Amanda Vinicky previews what else is ahead.
When lawmakers return to Springfield for their fall session later this month, they'll be weighing requests from several international companies that want tax breaks for keeping their headquarters in Illinois. But Gov. Pat Quinn is throwing cold water on that idea.
As Archer Daniels Midland plans to move its headquarters out of Decatur, state lawmakers are considering whether to award tax breaks to keep the agribusiness giant in Illinois.
At a legislative hearing in Chicago, representatives of ADM told lawmakers they wanted incentives worth $1.2 million a year for up to 20 years. In return, the company would keep its headquarters in Illinois, likely in Chicago.
One lawmakers says it's "essentially blackmailing the state."