Illinois Offers Tax Breaks to Lure Archer Daniels Midland
ST. LOUIS (KMOX) – Illinois lawmakers are pulling out the state’s credit card to make an offer that they hope Archer Daniels Midland Co. can’t refuse.
At 10 a.m. Tuesday, an Illinois House committee will hold a hearing about offering ADM a ten percent break on utility taxes for three decades as well as an income tax credit.
The agricultural giant announced last week that they are moving their headquarters out of Decatur, Illinois but lawmakers want to keep the company in the state by way of Chicago.
St. Louis and Minneapolis are also being considered as a future home of Archer Daniels Midland so KMOX News asked Missouri Department of Economic Development spokesperson Amy Suson what Missouri is doing to sweeten the deal.
“We typically don’t comment on pending projects so I don’t have any information about that particular project,” she said.
But Suson said it would make sense for “that company” to choose Missouri given the state’s status as an agri-business hub.
“We’re looking forward to any company such as the one you mentioned making Missouri their home. There is definitely a reason for big companies like that to look at Missouri,” she added.
The presidents of both the National Corn Growers Association and American Soybean Association told KMOX News Monday that they are urging ADM to move to St. Louis. Both national associations are headquartered in St. Louis and tout the region’s access to both international flights and Illinois crops.
St. Louis Mayor Francis Slay and St. Louis County Executive Charlie Dooley said last week that they have hit the phones as well, rallying support for ADM to make St. Louis its new home.