Indianapolis courts Chicago Mercantile Exchange

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Indianapolis’ mayor has met with top executives of the Chicago Mercantile Exchange to discuss bringing the financial market to Indiana’s largest city.

Mark Lotter, a spokesman for Indianapolis Mayor Greg Ballard, told The Associated Press that Ballard left a U.S. Conference of Mayors water council meeting early to talk to the Chicago Mercantile Exchange. Lotter says the parties met for about an hour Friday afternoon.

He says city and state officials have been discussing a possible move with the exchange for months.

Earlier this week, the Illinois House rejected a package of tax breaks intended to keep the exchange and Sears Holding Corp. from leaving the state. The exchange has said it’s considering leaving Illinois because of its business tax.

Indiana has been courting Illinois businesses, touting lower taxes.