FILE – This July 2, 2009, file photo shows the Archer Daniels Midland Company logo on a tanker truck at the ADM plant in Decatur, Ill. The agribusiness giant on Wednesday, Dec. 18, 2013 said it is moving its global headquarters to Chicago, but said it could still set up a new technology center in another state after failing to win millions in tax breaks. (AP Photo/Seth Perlman, File)
CHICAGO (AP) — Archer Daniels Midland Co. decided Wednesday to set up its new international headquarters in Chicago even after it failed in its bid for millions of dollars in state tax breaks. The move was the latest twist in the debate about how far Illinois and other states should go to lure and keep companies.
Critics of tax breaks say the agribusiness giant’s announcement provides a lesson: Illinois didn’t play ball, even as cities such as St. Louis and Atlanta talked to ADM, and won anyway.
“The state stood its ground,” said Illinois House Majority Leader Barbara Flynn Currie, who in October called ADM’s initial request for up to $30 million in tax breaks blackmail. “And ADM made a good decision based on what’s best for the company and its bottom line.”
Illinois has been engaged in an incentives tug-of-war for years with companies ranging Login to read more