CHICAGO- Gov. Pat Quinn says he will not approve any tax incentives for Archer Daniels Midland Co. to retain its global headquarters in the state unless state legislators approve a plan to deal with Illinois' $100-billion pension crisis.
“The best way to help jobs in Illinois is to do pension reform,” Gov. Quinn said. “To distract legislators in any way from this issue of a lifetime is just plain wrong.”
In an interview with the Associated Press on Thursday, the governor said he would not consider any corporate tax breaks until a pension fix plan has been approved and is on his desk, according to the Chicago Sun-Times.
The agricultural giant announced last week it planned to move its global headquarters from Decatur. Reports are that Chicago is the preferred location. Archer Daniels requested the state provide up to $24 million in tax breaks over 20 years to keep the headquarters in Illinois.
“Over and over again business location decisions in our state are going to be determined by how we act now,” Gov. Quinn said in reference to its actions in fixing the state's pension problems. See story in the Chicago Sun-Times.
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