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* Tribune editorial…
There is one other crucial factor: Emanuel needs to convince Bezos that Amazon won’t be hobbled by the state’s public debts and political dysfunction. USA Today synthesized an assessment several handicappers have raised: “While Chicago’s got much of what Amazon wants, its state economy is a mess.” It’d be easy for Bezos and his lieutenants to wonder if Illinois, with the worst credit rating of any state, can be trusted to fulfill its end of any deal.
That puts the onus on Springfield lawmakers, starting with House Speaker Michael Madigan and Senate President John Cullerton, to make clear they want Amazon in Illinois. Foxconn rejected Illinois. So did Toyota and Mazda, which are searching for a factory site. It’s one thing for Illinois to lose out in the competition to offer the most incentives. It’s another to be bypassed because the state is seen as a lousy, risky place to do business.
The General Assembly begins its veto session Tuesday. What will Madigan, Cullerton and other elected officials do, and what will they say, to make Amazon want to look closely at Chicago’s bid?
* Tribune reporters…
Billing Illinois and Chicago as an “extraordinary opportunity for Amazon” to locate its second headquarters, state and city political leaders entered the nationwide competition to land the online retail giant’s 50,000 jobs by offering $2 billion in incentives while hinting they were willing to dig even deeper, sources familiar with the bid confirmed Monday.
In an official letter to Amazon executives attached to the state and city’s bid, Gov. Bruce Rauner, Mayor Rahm Emanuel, Cook County Board President Toni Preckwinkle and the legislature’s top four leaders laid out the big-ticket series of state tax breaks, property tax discounts, infrastructure spending and other incentives. In the letter, obtained by the Chicago Tribune, the politicians also offered to spend an additional $250 million that would not go to Amazon directly but would pay to train up a workforce from which the mega tech company could hire.
And, the elected officials wrote, there could be more money and tax breaks should Amazon deem Illinois and Chicago a worthy finalist for the company’s so-called HQ2 and the $5 billion it has promised to spend on it.
“Finally, when you have narrowed the field and are engaged in more specific conversations with us, we are prepared to promptly consider other incentives that represent sound economic policy for Illinois and the greater Chicago area,” the letter reads. “We all want to ensure that Illinois and the greater Chicago area are well understood to have a constructive approach to technology and innovation.”
Emphasis added.
posted by Rich Miller
Tuesday, Oct 24, 17 @ 12:01 pm
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It’s been evident for a long time that the tronc edit writers don’t read the Trib — or anything else, for that matter. Their tantrums require willful ignorance.
Comment by wordslinger Tuesday, Oct 24, 17 @ 12:08 pm
Considering the number of RFP’s offered, Chicago odds lean 75-80% of what Amazon desires…
And I subscribe that the ‘race to the bottom’ of pitting State v. State based on incentives does nothing to further either the company, or the government of the people, by the people and for the people.
So….at this point….6:1 odds….
Comment by northernwatersports Tuesday, Oct 24, 17 @ 12:13 pm
Apparently the Tribune editorial board isn’t involved in the decision?
Comment by Michelle Flaherty Tuesday, Oct 24, 17 @ 12:15 pm
That’s odd….why would Amazon demand that we meet at the crossroads at midnight?
Comment by Honeybear Tuesday, Oct 24, 17 @ 12:20 pm
Would it be weird if hometown local papers wrote effusively about the the prospect. Maybe some puff pieces on locals who are great potential employees and recent new tech companies that love it here.
It’s sad when the local paper works to prohibit prosperity I ahead of support it; after all Amazon might buy local ads, and those employees might by papers…
Comment by Ghost Tuesday, Oct 24, 17 @ 12:22 pm
Honeybear FTW
Comment by Montrose Tuesday, Oct 24, 17 @ 12:22 pm
Could also dig the state’s largest school district of of the toilet. That’s been known to be of importance to large employers.
Comment by Will Caskey Tuesday, Oct 24, 17 @ 12:24 pm
And rich could sell subscriptions and upgrade to a site that fixes the fixes Android likes to inject for me…..
Comment by Ghost Tuesday, Oct 24, 17 @ 12:25 pm
Yes why does the Tribune report on our terrible business environment, political cronyism and corruption, high unemployment, high property taxes, and stagnant population growth? They are making life difficult for the politicians who refuse to acknowledge these facts and don’t want to make any changes.
Comment by Lucky Pierre Tuesday, Oct 24, 17 @ 12:30 pm
Don’t forget that Amazon and its employees would get the honor of helping pay for the million-dollar bump to a progressive legislator’s state pension for the six weeks she claims to have worked for Blago.
Comment by Gil Franco Tuesday, Oct 24, 17 @ 1:02 pm
Who taught these people how to negotiate? “Finally, when you have narrowed the field and are engaged in more specific conversations with us, we are prepared to give away the Farm… SAD!
Comment by jeffinginChicago Tuesday, Oct 24, 17 @ 1:06 pm
The $150 billion-plus in unfunded liabilites, the Kick the Can “solution” and 34% of the current budget being spent spent on prior commitments after a 32% veto imposed income tax increase and you still a have storage.
I have a hard time believing that Illinois could even be seriously considered - so lets hammer the Tribune.
Comment by cannon649 Tuesday, Oct 24, 17 @ 1:17 pm
$250 million to train up a workforce? Really? I thought Chicagoland had a world class workforce due to its fine schools.
Comment by Cook County Commoner Tuesday, Oct 24, 17 @ 1:35 pm
LOL, to the Usual Victims, I think you’re missing the point of the thread: the Trib edit board does not read the Trib news pages.
Didn’t think the point was all that subtle, but it few over your collective pumpkin nonetheless.
Comment by Anonymous Tuesday, Oct 24, 17 @ 1:37 pm
===Honeybear FTW===
I second the motion.
Comment by TwoFeetThick Tuesday, Oct 24, 17 @ 1:42 pm
=Yes why does the Tribune report on our terrible business environment, political cronyism and corruption, high unemployment, high property taxes, and stagnant population growth?=
Editorializin’ ain’t reportin’ Bro.
Comment by JS Mill Tuesday, Oct 24, 17 @ 4:02 pm