Plan Would Give ADM Tax Breaks To Stay In Illinois
Illinois lawmakers are considering a tax incentive package to get Archer Daniels Midland Company to relocate its headquarters to Chicago.
The proposal was filed Friday by Representative John Bradley. It would give ADM a 10 percent break on utility taxes for up to 30 years and a credit against some state payroll withholdings. The value of the incentives was not disclosed.
The Decatur-based agribusiness giant announced Monday it's looking for a new headquarters with better global access.
The headquarters would have about 100 employees, while the bulk of operations and some 4,400 jobs would remain in Decatur.
Company officials won't discuss which locations they're considering. Chicago officials say the city is among them.
Bradley is chairman of a House committee scheduled to meet Tuesday to consider "investment tax credits.''