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No Tax Incentive Package For IL Businesses

Thu, 05 Dec 2013 16:57:10 CST
By: AP


Illinois has taken a giant step toward fixing its biggest financial problem by approving a major pension overhaul this week. But lawmakers' inaction on tax incentives aimed at keeping companies in Illinois has triggered new concerns about the state's business climate. The Senate and a House committee considered legislation giving tax breaks to Archer Daniels Midland Company, chemical distributor Univar and newly-merged OfficeMax and Office Depot. But the House adjourned after the pension vote, essentially pushing the issue into 2014. The slow action, at least in the business world, could mean other states with interest in taking Illinois jobs have more of a chance to swoop in. Still, lawmakers say they had no other choice. Their first priority was approving a plan aimed at fixing Illinois' $100 billion pension crisis.

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