No consensus on ADM incentives

No consensus on ADM incentives

DECATUR -- A new plan to keep ADM in Illinois may not be working.
DECATUR -- A new plan to keep ADM in Illinois may not be working. Folks close to the ADM operation say they're not sure Illinois would be getting a good deal if lawmakers pass legislation to sway the corporation to keep its global headquarters in Illinois. Lawmakers came up with a plan to give ADM $24-million in tax incentives to stay. WCIA-3's Alex Davis keeps us Connected to the Capitol.

Lawmakers want something in return for their good faith effort. ADM is a Fortune 500 company in our backyard. Leaders want to relocate the company's global headquarters next year and take 100-jobs with them.

But, they're big business here, so some lawmakers are now considering giving them tax incentives, but are asking for jobs in return. Archer Daniels Midland Company would need to create some 600-jobs under legislation filed Thursday. It's something vice president Victoria Podesta thinks they could handle.

"We did work constructively with Senator Manar and with local leaders to see that this legislation could be a win for all."

Those jobs are what Illinois would get in return for giving up $24-million in tax incentives. It's meant to sway ADM into keeping their headquarters in Illinois.

"We need to be able to accomplish the relocation of our global headquarters in a way that's cost-effective. So, the legislation that's being drafted and put forward and the credits that we would be allowed to talk to the state about would certainly be a step in that direction."

But, former ADM contractor, Scott Litteral, isn't buying it.

"Yeah, we'd like to keep them in Illinois, but we shouldn't have to pay them to keep them in here."

He doesn't think it's a good enough deal for Illinois.

"These big companies have enough money to do it and I can understand why they ask for it. Every corporation is out there to make money, but how much we can keep getting for what we get in return for it is something that I wouldn't have any figures into or even guess if it's worth it or not."

ADM has some 4,500 employees in Decatur and 30,000 around the globe. Podesta says, the ultimate goal is to move to a hub city which puts Chicago on the list.

"The legislation that's drafted represents something that's a win for Illinois, a win for Decatur and a win for ADM, and we're hopeful it will have support."

ADM is keeping things pretty tight-lipped, but we do know the company is also considering St. Louis and Minneapolis for its future home.

Lawmakers return to Springfield Tuesday for veto session. Governor Quinn has said he will not consider the legislation until lawmakers pass pension reform.
Page: [[$index + 1]]
comments powered by Disqus