Under the threat of losing thousands of jobs to other states, Illinois lawmakers on Tuesday approved a tax-relief package meant to keep Sears and the Chicago Mercantile Exchange from leaving. The state’s governor is expected to sign it.
The Senate has approved similar legislation in the past, so the latest version is likely to get the chamber’s stamp of approval. Indianapolis and, likely, Carmel have been trying to lure the company to Indiana.
Lawmakers in Illinois, where major employers are threatening to leave the state if their tax burden isn’t reduced, return to Springfield on Monday to consider what they probably can’t afford to do.
Two Indianapolis companies that received tax-abatement agreements from the city in 2007 have had the incentives canceled for failing to meet investment and employment goals.
A letter from Carmel Mayor Jim Brainard to a company that fits the Chicago Mercantile Exchange’s description says the Indianapolis suburb is prepared to offer $150 million in incentives in return for 1,700 high-paying jobs.
A plan to offer a 10-year tax abatement worth $23 million for Rolls-Royce Corp. to redevelop two plants on the west side and move thousands of office workers into downtown’s Faris campus is scheduled for an initial hearing Wednesday.
An organic food company that is closing its eastern Indiana preparation center was offered up to $3.5 million in state tax credits to open its plant, but it owes more than $31,000 in property taxes and sewer bills.
Regulators allege CEO Patrick G. Rooney diverted millions of dollars from a hedge fund into the struggling Fishers company without investors’ knowledge.
Toronto-based IntraPac said it will move operations from New Jersey to the southeastern Indiana town and build an 80,000-square-foot plant that should open in February.
The Indianapolis-based firm has pledged to add a total of 300 workers by 2015.
Exegistics, a Wheeling, Ill.-based logistics service provider, said Monday it plans to spend about $9 million to build a rail-sided distribution facility in North Vernon, creating up to 315 jobs by the end of 2014.
Federal-Mogul Corp. said it will add the jobs next year as part of a $2.7 million expansion to purchase new machinery and equipment for its 170,000-square-foot manufacturing plant and 15,000-square-foot technical center.
Heartland Sweeteners LLC plans to spend nearly $10 million to upgrade its Indianapolis plant and potentially boost its work force there by 39 employees in the next five years.
The company plans to hire 246 employees to staff a call center on the northwest side of Indianapolis after announcing in August that it would close its call center in South Bend and move operations here.
A West Hollywood businessman hopes to build hundreds of trucks outfitted with giant video screens. The product is unproven and so is Bob Yanagihara, the ambitious 50-year-old behind it.
Many Illinois firms are serious about moving or expanding out of state—and Indiana economic development officials are racing to capitalize.
LEP Special Fasteners Inc. will relocate parts of its management, sales and distribution functions from Elgin, Ill., and expand its current manufacturing plant in Frankfort by 250,000 square feet.
Bottcher America Corp. will invest $2.1 million to purchase new gear and create a 30,000-square-foot addition to its current facilities.
Goshen-based Wieland Designs Inc. said it will add the jobs by 2015 as part of a $1 million investment to improve existing facilities and purchase specialized machinery to enhance production.
Sunright America Inc., a Japanese manufacturer of automotive fasteners, plans to nearly double its current space in Columbus and add the 100 jobs by 2014.
