Archer Daniels Midland Company said in a statement that it will move a small corporate team of about 50-75 employees to Chicago, but for now, the agribusiness would not be creating 100 more tech jobs.
A state Senate committee has approved tax credits worth up to $30 million for Archer Daniels Midland Company and $53 million for the newly merged OfficeMax and Office Depot.
ADM is the largest employer in Decatur, and several thousand jobs would remain there.
St. Louis Regional Chamber President Joe Reagan says St. Louis makes sense because of the plant sciences hub here as well as the investment ADM already has.
“We wanted Decatur to understand that just because we’re moving a relatively small group and re-naming a global headquarters, that Decatur remains very critical”
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.
“This would be a huge victory if we were to land a company of that stature,” said Katy Jamboretz, who works for the St. Louis region’s economic development agency.
A week ago, the company announced its global headquarters is leaving Decatur, Illinois. Under consideration for the new home are Chicago, St. Louis, and Minneapolis.
“As far as we’re concerned, if they come to St. Louis, whether it’s the city or county, we’re all going to benefit,” the mayor said.
Chicago, St. Louis and Minneapolis are on the short list, Chicago business media reports