Local

Proposed Tax Breaks Make Progress
Proposed Tax Breaks Make Progress

A trio of bills to provide tax incentives for companies that may relocate to Illinois or are thinking about leaving the state is on the move at the Capitol.

One measure would provide $53 million worth of incentives to keep the merged Office Depot and Office Max in Illinois. Office Max currently calls Naperville home, while Office Depot is in Florida. The new company is deciding between the two states, according to Office Depot Inc co-chief executive Ravi Saligram.

“It’s a binary decision – you either get it or you don’t,”said Saligram.

Another measure is intended to keep ADM’s world headquarters in the state. ADM lobbyist Gregory Webb says while they would prefer to stay in Illinois, they are shopping around.

“We’re going to move up to 100 people from our Decatur operation to a new corporate headquarters, so that decision has been made. Now it is just a matter of where to locate,” said Webb.

The ADM incentive package is for $1.5 million a year for 15 to 20 years.

Both of those bills were approved by a Senate committee and await a vote in the full Senate.

Meanwhile, in the Illinois House, that chamber passed a bill to provide $5 million in incentives to bring chemical distributor Univar to the state from Redmond, Wash.