Senate Panel Approves Tax Breaks for ADM
by the Associated Press
A state Senate committee has approved tax credits worth $24 million for Archer Daniels Midland Company and $53 million for the newly merged OfficeMax and Office Depot.
The Senate Executive committee approved both measures on a voice vote Wednesday. They now move to the full Senate, where they could get votes Thursday.
Naperville-based OfficeMax and Florida-based Office Depot completed their merger Friday. The newly formed company, using the name Office Depot Inc., is deciding whether to be based in Illinois or Florida.
Ravi Saligram is interim co-CEO. He says the company would keep 2,050 jobs in Illinois and add 200 jobs.
Decatur-based ADM announced in September it plans to move its global headquarters to a city with better international access. Chicago officials say they're in the running.