Ohio Believed to Be Offering Sears Big Bucks to Move

In the wake of the Illinois House voting down a bill that would’ve given various large corporations $100 million in tax breaks, including Sears Holdings, the state of Ohio is said to possibly have offered $400 million to the company to move its headquarters.

The Columbus Dispatch reports a spokesperson for Gov. Pat Quinn’s office said the figure came from executives testifying in a committee meeting in Springfield. Quinn press secretary Brooke Anderson said the package of incentives is “basically about four times” what Illinois wanted to offer.

Ohio Gov. John Kasich declined to discuss specifics in the matter in an interview, saying “we are somewhere between $0 and $400 million.” “We put the best package together we could. Do we have a shot? Yes, but I want to maintain my position that you don’t know,” he added.

Sears has also said it has been looking at Austin, TX if they choose to move.

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By aaroncynic in News on December 1, 2011 9:40 AM 0 Comments

Comments [rss]

Matt Johnson

Watch all the employees at Sears leave. Who would want to live in Ohio? YUCK!

valiumaphrodite

It seems cannibalistic how states want to attract businesses away from other states.

twocee

States are no more or less cannibalistic than cities which compete for businesses. As long as municipalities are reliant upon local tax dollars (local = city or state), then there will be competition to get those dollars.

tomdarch

Weeee! Let's all race to the bottom! Why stop in Ohio, when I'm sure that Alabama could offer an even more self-destructive deal? While we're at it, why descend only to Alamama levels? Perhaps Albania could offer a great deal? Just think how cheap it would be to have their headquarters in Burma or Botswana!

Navin_Johnson

Race to the bottom indeed,
Good luck recouping that 400 million. As Mimi said, I'd be surprised if they're still in business a couple years from now. The people who used to shop at their stores can't even afford to anymore regardless, even if they wanted to. The poor will go to Wal-Mart which funnily enough is seeing a drop in shoppers as well, because many people can't even afford their prices. Race to the bottom. Move everything to Mississippi, then move all that to India, than all that....