Latest Post | Last 10 Posts | Archives
Previous Post: Dillard slams Rauner over Levine
Next Post: *** UPDATED x2 *** Gloom and doom and an eye-popping pension claim
Posted in:
* Bloomberg…
Archer-Daniels-Midland Co. (ADM), the world’s largest corn processor, is considering Dallas among other U.S. cities as it looks to move its global headquarters from Decatur, Illinois, according to a person familiar with the situation.
ADM’s site selection team visited Dallas on Oct. 8, according to the person who asked not to be identified because the talks are private. ADM executives visited other cities last week, including Minneapolis and Atlanta, and Chicago is also being considered, the person said. […]
Along with an international airport, Dallas and the surrounding region is home to several ADM customers including Kimberly-Clark Corp. and Dean Foods Co. Dallas is the ninth-largest city in the U.S. and the third-largest in Texas, according to the website of the Dallas Convention & Visitors Bureau.
* Meanwhile, the same governor who vowed to veto any bill which gave ADM any tax breaks to stay in Illinois made an announcement today…
Governor Pat Quinn joined FER-PAL Construction officials today to open the water main rehabilitation company’s new U.S. headquarters in Elgin, creating 50 new jobs. Governor Quinn’s personal involvement helped convince the firm to choose Illinois. This announcement is part of Governor Quinn’s agenda to drive Illinois’ economy forward and protect the environment by modernizing water infrastructure.
“FER-PAL joins a growing list of companies who are choosing Illinois to grow their business,” Governor Quinn said. “The company is also ideally situated to participate in the Clean Water Initiative, which is putting people back to work updating our water systems and infrastructure across Illinois.”
Governor Quinn met with FER-PAL CEO Shaun McKaigue and Toronto (Canada) Mayor Rob Ford when they traveled recently to Chicago. Later, Governor Quinn solidified the relationship with FER-PAL while visiting Mayor Ford in Toronto and convinced the firm to locate its U.S. headquarters in Elgin.
Quinn’s office says the company qualifies for an EDGE tax credit worth about $260,000 over 10 years.
* Also, remember SB 20? The proposal included a state subsidy to locate a massive fertilizer processing plant in Illinois. Quinn signed that bill into law in late July, after he vetoed legislative legislative salaries out of the budget because the GA supposedly wasn’t doing its job on pensions.
Update on that fertilizer plant subsidy…
For the first time since the project surfaced in March, Gov. Pat Quinn and company officials said Illinois and Iowa aren’t alone in their pursuit of a $1.1 billion fertilizer plant.
In comments to reporters in Urbana, Quinn said Cronus Chemical LLC is still considering its options when it comes to building the facility near Tuscola in Douglas County, even though he’s already signed off on a multi-million dollar package of state tax incentives.
“We still have a ways to go. They have to make their decision,” the Chicago Democrat said.
However, he added that the site near Tuscola and one in northern Iowa may not be the only places under consideration for a urea production facility by the Delaware-based company.
The lesson may be that deals the governor negotiated and supports are A-OK while pension reform languishes. Deals he didn’t negotiate have to be stopped.
posted by Rich Miller
Tuesday, Oct 15, 13 @ 11:02 am
Sorry, comments are closed at this time.
Previous Post: Dillard slams Rauner over Levine
Next Post: *** UPDATED x2 *** Gloom and doom and an eye-popping pension claim
WordPress Mobile Edition available at alexking.org.
powered by WordPress.
I guess the pension “crisis” has been solved. Well done, everyone!
Dallas is a real player on the world business stage. You can live large there, too. They’re the first legit competitor.
And Gov. Glasses has a huge $500 million oil-money slush fund to shower on relocating businesses. He wouldn’t blink on $1.2 million a year.
Comment by wordslinger Tuesday, Oct 15, 13 @ 11:12 am
Do as I say, not as I do.
Comment by Whatever Tuesday, Oct 15, 13 @ 11:19 am
Word’s right. They’re the first real competitor.
Not that near the grain belt, or the Board of Trade — but definitely a player in world business.
Comment by walkinfool Tuesday, Oct 15, 13 @ 11:20 am
The Fer Pal announcement is that 50 jobs will be created and the company is from Canada! ADM is creating no new jobs, just moving 100 jobs out of Decatur to Chicago. The lesson is don’t try to blackmail the state of Illinois.
Comment by Tom Joad Tuesday, Oct 15, 13 @ 11:30 am
==The lesson may be that deals the governor negotiated and supports are A-OK while pension reform languishes. Deals he didn’t negotiate have to be stopped.==
I suspect the lesson is that this governor will claim credit for any jobs “creation,” regardless. If it ever happens, he’ll claim credit for pension reform despited the fact that he hasn’t contributed anything of value to the project. And to Mr. Joad, ADM is talking about moving 100 jobs and creating 100 new jobs.
Comment by Anon. Tuesday, Oct 15, 13 @ 12:09 pm
yes any company looking to relocate should give Dallas and Atanta a go. Dallas has good office rent, international aiport, no income tax. but again downtown Dallas and Atlanta not like Chicago. and Dallas heat no joke.
oh, and you want a flight out of DFW to Beijing? no problem Mr. business flyer, we can connect you on a nonstop flight out of ORD… how bout dem Cowboys.
Comment by PoolGuy Tuesday, Oct 15, 13 @ 12:16 pm
I doubt they really mean Dallas the city, they are probably talking about the upper income suburbs like Plano, which is full of corporate HQ and newer gated housing developments, kind of like Oakbrook or Naperville. Yes, hot in summer, but more than offset by mild winters with only occasional ice storms. Low income taxes for executives.
A serious contender indeed.
Comment by cod Tuesday, Oct 15, 13 @ 5:10 pm
ADM eyeing EVerywhere, it seems, but will LAND (and many of its’ execs. KEEP their-already-purchased PROPerties and connections) in Sweet Home ChiCAgo…!
Comment by Just The Way It Is One Tuesday, Oct 15, 13 @ 7:05 pm