ADM: Past Tax Breaks Set Precedent for Ill. Bill

5 years 1 week 22 hours ago Tuesday, October 08 2013 Oct 8, 2013 Tuesday, October 08, 2013 4:02:03 PM CDT October 08, 2013 in News
By: The Associated Press

DECATUR, Ill. - Archer Daniels Midland says perks Illinois gave Sears Holdings Corporation set a precedent as the agribusiness tries to get tax breaks from the state.

ADM is planning to move its headquarters from Decatur. It won't say what locations it's considering, but Chicago officials say they're in the mix.

ADM spokeswoman Victoria Podesta said Tuesday that Illinois' track record of offering companies perks paved the way for a proposed ADM-focused bill in the state Legislature. That bill would give ADM $24 million if it keeps its headquarters in Illinois. It has received a cold reception from lawmakers and Gov. Pat Quinn.

Sears previously received perks for keepings its headquarters in suburban Chicago.

Podesta would not discuss a report in the Minneapolis St. Paul Business Journal that ADM met with Minneapolis officials.

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