CHICAGO (AP) — Illinois lawmakers are considering a tax incentive package in hopes of persuading agribusiness giant Archer Daniels Midland Company not to move its global headquarters out of the state.
The proposal filed Friday in the Illinois House would give ADM a 10 percent break on utility taxes for up to 30 years and a credit against some state income tax withholdings. The value of the incentives was not disclosed.
The package was introduced by state Rep. John Bradley, a Democrat from Marion who is chairman of the House Revenue and Finance Committee. The committee is scheduled to meet Tuesday in Chicago to consider "investment tax credits," though specific legislation to be discussed has not been posted.
Bradley did not return phone messages left Friday and Saturday. Lawmakers are scheduled to return to Springfield in late October for a six-day fall session.
ADM, which has been based in the central Illinois city of Decatur for more than four decades, announced Monday it's looking for a new headquarters with better global access. The company said it would have about 100 employees and would become home to a new technology center that would add another 100 workers over the next few years.
The bulk of operations and some 4,400 jobs would stay in Decatur, which would keep the title of North American headquarters.
Company officials won't discuss which locations they're considering or how long it will take to make the decision.
A spokesman for Chicago Mayor Rahm Emanuel said Monday the city is among the candidates and that Chicago would do its best to keep ADM's global headquarters in Illinois.
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