* Illinois Policy Institute…
Takeda Pharmaceuticals announced Sept. 10 plans to close its U.S. headquarters in Deerfield, Illinois and continue consolidating its operations in Boston, according to Crain’s Chicago Business. The Deerfield office houses around 1,000 employees.
The biopharma company’s decision to shutter its Illinois-based headquarters comes despite having enjoyed one of the most lucrative tax credit arrangements in the state, calling into the question the efficacy of Illinois’ Economic Development for a Growing Economy, or EDGE, tax credit program.
From 2003 to 2013, Illinois issued more than $60 million in EDGE tax credits to Takeda via two separate agreements, according to documents obtained from the Illinois Department of Commerce and Economic Opportunity. In exchange, the company promised to create 566 new jobs.
No other company in the state received more EDGE tax credits over that time.
…Adding… From Austin Berg at the Institute…
Hey Rich, worth noting that the second Takeda EDGE agreement extended beyond 2013, so they have very likely received even more than $60 million in credits. According to the most recent report from DCEO, Illinois also issued EDGE credits to them in 2014, 2015 and 2016, though it does not disclose the amount.
We published what we knew for sure according to the most recent FOIA data we had on hand from DCEO, which followed the EDGE program from 2001-2013
* More on why the company is leaving from John Pletz at Crain’s…
The move is not entirely unexpected. Its parent company, based in Tokyo, is in the process of buying Irish drugmaker Shire for $62 billion as the drug industry continues to consolidate.
Takeda has been shrinking its workforce in Deerfield, shifting some R&D resources from Chicago to Cambridge, Mass., where it acquired two companies in the past decade. […]
Takeda, which set up operations in the Chicago area in 1977, has been reducing operations in Deerfield for several years. When it announced the proposed deal with Shire, Takeda said it expected to reduce R&D costs by about $600 million a year and trim overall expenses by $1.4 billion. Management expects to reduce the companies’ combined workforce about 7 percent.
But Takeda’s latest move heralds more than consolidation. The health care industry is moving away from traditional drug compounds toward biologics and gene-based treatments. Boston, like San Francisco and San Diego, is a major hub for such research. Although Chicago has some of this capability—at AbbVie, in local universities and in some emerging companies, such as AveXis—it doesn’t have the same scale as Boston.
* From one of Dan Proft’s papers…
Takeda Pharmaceuticals, shuttering its Lake County U.S. headquarters and moving 1,000 jobs to Boston, saw its property tax bill rise 66 percent over the last decade, from $1.37 million in 2008 to $2.28 million last year, according to the Lake County Treasurer’s office.
That’s down from a high of $2.7 million in 2012.
In all, the company has paid more than $22 million in property taxes on his since 2008 on its 380,000 square foot tower that straddles Lake Cook Road and Interstate 294 in Deerfield.
It was the fourth highest corporate property taxpayer in Lake County, after Abbott Laboratories ($9.2 million), Gurnee Mills Shopping Center ($4.8 million) and Vista Medical Center East in Waukegan ($2.9 million).
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* Press release…
Despite urging from people he listens to and respects, U.S. Rep. Luis Gutiérrez, D-4, has said he has decided not to run for mayor of Chicago and is launching a drive to draft Cook County Commissioner Jesús “Chuy” Garcîa for the job.
“First, I want to thank the hundreds of you who have called to offer support and encouragement for me to run for mayor of our great city,” Gutiérrez said. “Because of my unending respect for all of you, I’ve listened carefully and believe me, from the bottom of my heart, I am honored.
However, he said he has made two important promises in the months since he announced his retirement from Congress.
“Not too long ago, I made a promise to my daughter, Jessica, who is running for alderman in the 30th ward that I would put her future first. … “She is carving her own path as a young, independent progressive leader, and a part of the exciting new movement coming to the forefront across our nation. The last thing I want to do is undermine her independence or undercut her avenues for success. I’m a dad first.”
And, while he loves Chicago, he said his heart is with Puerto Rico, the home of his parents, and he has promised to “be the guy” to help “abolish” Donald Trump and rebuild Puerto Rico.
“Puerto Rico deserves my time and my energy and I will not rest until my work there restores it to its proper place as a home for hard working people and a haven for prosperity,” he said. But “Rebuilding Puerto Rico can’t be done with Donald Trump as president.”
So, in order to “tear down Trump’s second wall that is denying over 900,000 immigrants citizenship,” Gutiérrez will take up the gauntlet and crisscross America, as a national spokesperson on behalf of the National Partnership for New Americans and continue his trademark firebrand work on immigration and refugee rights.
Finally, Gutiérrez urged his supporters, and those who worked for García four years ago, to help draft the commissioner for another mayoral run. “Chuy took us almost far enough four years ago bringing a new spirit of independence and honesty that survived his defeat. It’s time to let his vision be fulfilled.”
He noted that he and García began as children of the movement that elected Harold Washington, who “said no to hatred and bigotry and yes to equality … and Chuy can make that happen and heal the city.”
“We are going to form an exploratory committee and start circulating petitions this weekend,” Gutiérrez said. “If Chuy doesn’t have petitions out, I will print them myself. I know how to spell his name.”
*** UPDATE *** Chuy Garcia press release…
First, I want to thank Congressman Gutierrez for his confidence and support in my ability to lead Chicago and to serve as a bridge to unite our increasingly divided city. And, certainly, as a father, I understand his decision and admire the love he has for his daughter and unwavering support to the people of Puerto Rico.
Calls and messages have been coming in from people all over the city urging me to run, including Congressman Gutierrez. And, I want to thank everyone for their encouragement and support from the bottom of my heart.
As I take a closer look at the Mayor’s race I will continue to dialogue with Chicagoans from across our great city to talk about solutions that will both unify us and improve everyone’s quality of life. While we have great challenges ahead of us we also have an opportunity to bring peace to a city that has been too much at war with itself. And, I look forward to forging that peace together.
* Related…
* Rep. Luis Gutierrez won’t run for Chicago mayor, calls on Jesus ‘Chuy’ Garcia to seek the office instead: Garcia, who has been running for the congressional seat Gutierrez will vacate, could not be reached Wednesday morning for comment on his plans. As Gutierrez pushed Garcia for mayor, Garcia was nowhere to be seen at the county board meeting. He was present earlier in the morning for committee meeting, but went back to the offices and didn’t reappear.
* Gutierrez won’t run for Chicago mayor; will try to draft Jesus ‘Chuy’ Garcia
* U.S. Representative Luis Gutierrez not running for mayor
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[I’ve moved the updates to their own post. Click here.]
* Part 1 is here. From JB Pritzker’s appearance on the Here and Now program…
On Rauner running ads saying residents may have to leave the state if Pritzker’s elected because he will raise taxes
“That’s just false. Like everything else with Gov. Rauner, he’s been an utter failure and now he’s lying. I put forward a plan to implement a fair tax in the state which would lower taxes for the middle class and those striving to get there, and would raise taxes on Bruce Rauner and people like him and me. It’s a fair tax system like the ones that exist in most states in the United States, and of course the federal government has a progressive income tax system as well.”
C’mon, dude. You’ve never put forward a tax plan. You haven’t even discussed an outline. It’s barely a vague concept. If you say you have a plan, then let’s see the plan. Otherwise, don’t say you have a plan. /rant
* Full interview…
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* I hope he’s out there to finally nail down some of those “thousands” of Japanese jobs he’s been promising since his Asian trip almost exactly a year ago…
Daily Public Schedule: Tuesday, September 11, 2018
What: Gov. Rauner attends the Midwest U.S.-Japan Conference, delivers remarks at the closing ceremony
Where: Grand Ballroom (2nd floor), Hilton Omaha, 1001 Cass Street, Omaha, NE 68102
Date: Tuesday, September 11, 2018
Time: 10:30am
Note: No additional media availability.
Or, maybe he’ll stop by the Ricketts family corporate headquarters and try to raise some campaign cash.
Or, maybe he’s just leaving the state to give a speech, which seems kinda odd considering the polling. Weird year.
…Adding… This announcement was reported by the Tribune today…
…Adding… Touché, Daniel…
…Adding… Make that 1,900 total jobs lost…
…Adding… Ouch…
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* You’ll recall that state Rep. Helene Miller Walsh (R-Mundelein) scrubbed her Facebook page of some pretty odd and extremist stuff shortly after she was appointed to the seat. Well, here’s her Facebook page today…
* Under that [now-deleted 911 image was] this text…
Marty N-Eighty to Walsh Freedom Volunteers
The Islamic terrorists attacked the USA and our American way of life on September 11, 2001. Not just New York or the Pentagon or an empty field in Pennsylvania. Their objective was to bring down the federal government and collapse our nation. Now the leftists progressives with the willing assistance of mainstream media and some politicians are continuing on that path by pushing globalism and socialism.
And a lot of our fellow Americans, even friends and family members of mine, are falling for the false promises of socialism and a world without borders. We have seen evil fly planes into buildings full of people going about their lives. But we must be vigilant and fight off those who are intent on bringing down our government and our duly elected officials in far more insidious ways. They come in the form of a pretty young woman or a very old man who has never worked a 9-5 job preaching a form of government that has been responsible for more human tragedy in all of recorded history . Or an eloquent former president who could never utter the words “radical Islam” but had no trouble apologizing for the USA at every world stage. #neverforget #alwaysremember is a battle cry to protect our flag and our nation. God bless America!
Oh, for crying out loud. I’m old enough to remember when September 11th was supposed to be a national day of unity and remembrance. Now, apparently, some people want to twist it to bash the media and warn of a vast internal conspiracy to destroy the nation.
*** UPDATE 1 *** Democratic Party of Illinois interim executive director Rep. Christian Mitchell…
It’s disgusting that Rep. Helen Miller Walsh has chosen to commemorate 9/11 by spreading vitriolic hatred on the internet…again,” said DPI Executive Director Christian Mitchell. “Rep. Walsh is leveraging a day of unspeakable national tragedy to spread conspiracy theories about her political opponents and attack the news media. This is not the first time that Rep. Walsh has pushed extremist rhetoric on social media, but that did not stop Republican leaders from elevating her to a legislative position. We expect more from our elected officials, and the representative should set a better example on a day when all Americans should come together as one.
*** UPDATE 2 *** Rep. Miller Walsh has taken down her divisive post. The person who pointed me to the post in the first place says FB commenters were posting screen shots of their online contributions to her Democratic opponent.
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