Sears to Stay in Illinois
December 20, 2011,
HOFFMAN ESTATES and SPRINGFIELD, Ill.-Sears Holdings Corp. said it will maintain its headquarters in Hoffman Estates, Ill., now that Illinois Governor Pat Quinn has signed a bill that will give the retail holding company tax breaks and incentives.
The breaks, according to press reports, include the extension of a credit Sears had been receiving, along with breaks on taxes and a property-tax cut. In a statement released after the signing of the bill, Sears said, "We applaud the governor for his leadership and recognition of Sears' contributions to our state--thousands of jobs and hundreds of millions of tax dollars. We look forward to remaining in Illinois and building on our long and rich history here."
The bill also provided similar breaks for CME Group, owner of the Chicago Mercantile Exchange, another long-standing Illinois business. Estimates put the total value of the breaks in the hundreds of millions of dollars.
Other Articles By Author
Patti Carpenter Talks Color and its Importance in the Home
HFN's DIGITAL EDITION
COVER STORY: Sharpening the Focus on Millennials
Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.
ALSO IN THIS ISSUE:
- Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
- Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.