Illinois to consider tax break to keep ADM within the state

22 October 2013 20:13  [Source: ICIS news]

HOUSTON (ICIS)--An Illinois state committee on Tuesday afternoon will consider an amendment that would make Archer Daniels Midland (ADM) eligible for nearly $24m (€18m) in tax credits, in an effort to keep the company from moving its headquarters from Decatur.

The Illinois House Revenue Committee has on its agenda a proposed amendment to House Bill 380 that would give the world’s largest corn processor payroll tax credits over the next decade as an incentive for ADM to remain in Illinois.

ADM announced in late September that it was reviewing options to relocate its global headquarters from Decatur in order to grow the company’s presence and increase its accessibility to customers.

Officials said if the company decides to move, it would relocate its corporate team to a new site and create a new information technology (IT) centre at the same location.

No layoffs are anticipated, and instead, ADM projects adding approximately 100 new positions once plans for the global headquarters and IT facility are finalised.

“Our company is growing and becoming more global and more customer centric. To continue to succeed we need a global center in a location that allows us to travel and work efficiently with customers and employees throughout the world. We also need an environment where we can attract and retain employees with diverse skills, and where family members can find ample career opportunities,” said Patricia Woetz, ADM CEO.

ADM said it would continue to maintain some operations in Decatur, as well as its regional headquarters in Rolle, Switzerland; Sao Paulo, Brazil; and Shanghai, China.

Since the company first made the announcement, ADM officials have visited several US cities including Atlanta, Dallas, Minneapolis and St Louis as it searches for the right fit of commerce, transportation and quality of life issues desired by its current and future employees.

ADM has not indicated when it will make a final decision on the possible relocation.

By: Mark Milam
+1 713 525 2653

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