tax credit

Quinn Mum
6:11 pm
Tue December 10, 2013

Illinois Loses Office Depot, Is ADM Next?

  A newly merged Office Depot chose to locate its headquarters in Florida, instead of Illinois. A Republican candidate for governor says Illinois needs to hurry if it doesn't want a similar fate with Archer Daniels Midland.

Archer Daniels Midland is based in Decatur now, and no matter what plans to keep many of its operations there. But it's searching for a new worldwide headquarters.

Chicago's in the running, but so are major cities.

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Tax Credits
6:46 am
Wed November 6, 2013

Legislators Set To Give Tax Breaks ... But Not Yet, ADM

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.
Credit Amanda Vinicky

  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.

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Same-Sex Marriage Vote Possible
6:22 am
Mon November 4, 2013

Heavy Veto Session Agenda

Rep. Elaine Nekritz, a Democrat from Northbrook, is a member of the conference committee tasked with negotiating a pension deal.
Credit ILGA.gov

  Illinois legislators are scheduled to finish out their veto session this week. Their back-loaded agenda ranges from dealing with budget matters to social issues.

The first week of the veto session late last month went by with little of substance accomplished.

But what the General Assembly didn't touch then is back now.

Like tax packages designed to keep companies, like Archer Daniels Midland, headquartered in Illinois.

It also appears the sponsor of stalled same-sex marriage legislation is leaning toward calling it for a vote in the House.

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Veto Session 2013
7:50 am
Mon October 21, 2013

Preview: Fall Veto Session

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.
Credit Amanda Vinicky

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.

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Statehouse
1:34 pm
Fri October 4, 2013

Quinn: Pensions Before Tax Breaks For ADM, OfficeMax

Credit Brian Mackey/WUIS

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.

Most of the tax-credit attention has gone to agribusiness giant Archer Daniels Midland Company, which wants up to $24 million keep its global head office in Illinois. But lawmakers have also heard requests from Zurich Insurance, based in Schaumburg, and OfficeMax, based in Naperville, and there are others.

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ADM Leaving Decatur
5:32 am
Wed October 2, 2013

Senator: Decatur Unemployment Must Be Considered In ADM Tax Breaks

Credit ADM

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."

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Higher Education
5:30 pm
Thu June 13, 2013

Republicans Propose Tuition Tax Breaks

Rep. Adam Brown (R-Champaign)
Credit Amanda Vinicky

With college tuition on the rise, Illinois House Republicans say they want to give working class families a break, and an incentive to go to a school in state.

 

Rep. Adam Brown graduated from the University of Illinois Urbana Champaign in 2007, but in that short time, tuition's steadily gone up.

BROWN: "The average cost for tuition, fees and books right now -- $26,000 and ten years ago that was $19,000.”

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