ADM to get tax breaks under proposal
BY DAVE MCKINNEY Springfield Bureau Chief September 27, 2013 5:12PM
Updated: October 29, 2013 6:10AM
SPRINGFIELD — Three weeks before lawmakers return to the Capitol, an economic-incentive package to lure Archer Daniels Midland Co.’s new global headquarters to Chicago emerged Friday in the Illinois House.
The plan, sponsored by Rep. John Bradley (D-Marion), would grant the Decatur-based agricultural giant a 10 percent break on its utility taxes for a 30-year period.
Bradley’s amendment also would authorize a 15-year state EDGE tax credit to be applied against payroll withholdings involving up to 200 employees.
Bradley, chairman of the House Revenue and Finance Committee, did not respond to phone calls Friday, but his panel is scheduled Tuesday to meet in Chicago for a hearing to deal with legislation involving “investment tax credits.”
The overall value of the tax breaks was not immediately known Friday.
An aide to House Speaker Michael Madigan (D-Chicago) offered little insight into the measure, House Bill 380, when asked Friday about its details.
“Have not seen the bill so I have no comment and, of course, no prediction on outcome,” Madigan spokesman Steve Brown said in an email to the Chicago Sun-Times.
Last week, the company disclosed it intends to create a new global headquarters and move 100 top executives out of its Decatur facilities to a more accessible, urban location, with Chicago being a presumed frontrunner.
The company also intends to establish an information technology center at the same new location that would involve adding another 100 new jobs over the next few years.
Gov. Pat Quinn’s administration is monitoring the legislation but has not been involved in its drafting as the fall legislative session looms ahead. The six-day session is scheduled to start Oct. 22.
“We haven’t seen the proposal, and it deserves careful review. We want to make sure Decatur and central Illinois are treated fairly,” Quinn spokeswoman Brooke Anderson told the Sun-Times.
Mayor Rahm Emanuel’s office could not be immediately reached for comment on the proposal.