WICD - Search Results
Can Illinois Attract Businesses Without Tax Breaks?
ADM's tax break demands to stay in Illinois didn't work. Lawmakers rejected the mandate, and ADM just announced it will relocate its world headquarters to Chicago. That has many saying the process of wooing business to the state may be changing.
We spoke with Mark Denzler of the Illinois Manufacturers' Association. He represents companies like ADM, Caterpillar, and Boeing. He says it appears there has been a change in the climate--at least in the House--but that Illinois still needs to offer incentives to be competitive with other states.
"For manufacturing specifically, we represent about 600,000 workers, and still contribute the largest share of the gross domestic product," Denzler said. "These are good high-paying jobs with benefits. These are the kind of jobs we want to attract to the state of Illinois."
Denzler said he thinks the state stands a chance of landing a massive new Boeing facility, because the state has good transportation infrastructure. Illinois is already the company's corporate home, and it has a large workforce of aerospace professionals. On the downside, the state also has a high tax rate, as well as high workers compensation costs.