Jimmy John’s founder: Taxes may force Florida move
BY ASSOCIATED PRESS
CHAMPAIGN, Ill. (AP) — The founder of Jimmy John’s sandwich shops says he’s considering moving his company’s headquarters from Champaign to Florida because of Illinois’ new tax increase.
Jimmy John Liautaud told The (Champaign) News-Gazette on Tuesday that he’s gathering information on a potential move and will ask the company’s board to decide.
Liautaud says he could absorb the increased costs but doesn’t believe he should have to.
Gov. Pat Quinn signed the income tax increase last week to help address billions of dollars in state budget shortfalls. The corporate tax rate increased from 4.8 to 7 percent.
Jimmy John’s headquarters employs 100 people in Champaign. The privately held chain has more than 1,000 sandwich shops around the country.
Liautaud says he recently moved his family to Florida from Champaign.