Gov. Pat Quinn says there will be no tax breaks to keep Archer Daniels Midland in Illinois until a pension reform bill is passed.
Decatur-based ADM has asked for up to $24 million in tax incentives over the next two decades, as it looks to move its headquarters to Chicago. Quinn says the company should instead focus on pressuring the General Assembly to agree on a solution to the pension problem.
“Reform the public pensions. That’s the best way to help every business,” Quinn said. “So I would say to ADM, hold back, don’t be trying any special legislation for tax breaks when we have the pension reform that needs action now.”
Quinn said he’s not worried this stance could drive ADM out of the state, saying the company has promised to keep 4,400 jobs in Decatur.