SPRINGFIELD, IL-Bills that would have granted attractive incentive packages for Archer Daniels Midland, Office Depot, and Univar to keep their respective operations in the state stalled in the House on Tuesday.
The legislation that would allow the three companies to retain state withholding taxes passed the State Senate, but the House adjourned without voting on the measure, which means the incentives are held up until the spring when state lawmakers return to session. All three companies are considering proposals from other states to relocate operations out of the state of Illinois.
Officials with Office Depot and Univar declined comment. The incentives, if passed, would have cost the state approximately $88 million, according to the Chicago Tribune.
"We appreciate the support of the senators who voted for the bill, especially the leadership of Sen. (Andy) Manar. Given that the House did not act, we will review our options. We expect to make an announcement soon," Jackie Anderson, an Arthur Daniels Midland spokeswoman stated. See story in the Chicago Tribune.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.