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ADM Still Waiting On Tax Breaks

Wed, 04 Dec 2013 10:46:56 CST
By: IPR's Amanda Vinicky

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 as IPR's Amanda Vinicky reports, 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. Senator Andy Manar's district includes Decatur.
"I hope that ADM would see the movement in the Senate, which was bipartisan, as a positive step forward."

But the House adjourned without voting to give ADM the credit, valued at $25 million over the next 15 years or so.   House Speaker Mike Madigan didn't say why, only that:
MADIGAN: "It's still under consideration."
REPORTER: "They say they want it by the end of the year."
MADIGAN: "Okay well, that's nice, alright, sure."
The Senate also approved a plan intended to convince a newly-merged OfficeMax and Office Depot to choose Illinois over Florida. Even though the company's expected to choose its home base soon, the House left that in limbo, too.

Governor Pat Quinn had said that he wouldn't consider any tax incentive package until pensions were taken care of; despite yesterday's action, the governor was unwilling to take a stance on A-D-M's request when reporters asked him about it last night.   The legislation approved by the Senate would require Archer Daniels Midland to create 100 jobs in Chicago, and move another 100 jobs from an out-of-state facility to Decatur. Monday, an Illinois House committee debated a separate measure to give A-D-M, Office Depot, and chemical distributor Univar a tax credit, while also creating a new tax on satellite television services. But it has yet to go anywhere.

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