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.
Although pensions are atop the agenda Tuesday in Springfield, the Illinois General Assembly could consider a set of tax breaks for some of Illinois' biggest corporations.
Decatur-based Archer Daniels Midland is moving its corporate headquarters, and wants a tax break to remain in Illinois, most likely Chicago. Office Depot, newly merged with OfficeMax, is deciding whether to put its combined headquarters in Florida or Naperville.
The deal would let the companies keep money they deduct from employee paychecks for Illinois taxes.
Illinois legislators wrapped up their two-week veto session this afternoon (Nov. 7), though they may be back in Springfield before the year's end.
The General Assembly knocked one, big item off its to-do list: same-sex marriage. After intense lobbying on both sides, lawmakers on Tuesday sent the governor a measure that will allow gays and lesbians to marry.
The rest of the major issues on the General Assembly's agenda remain:
-a tax package crafted to ensure Archer Daniels Midland keeps its headquarters in Illinois is on hold
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.