Michigan Vying to Become New Home for Sears

By Soyoung Kwak in News on Jun 26, 2011 6:00PM

Among some of the Illinois big businesses looking into seeking new stomping grounds, Sears has jumped on the bandwagon. Unhappy with the tax increase, Sears has been courted by several states regarding the relocation of their headquarters.

Recently, Michigan added itself to the list of states (which includes New Jersey, North Carolina, Texas, and Tennessee) that have been wooing Sears. And honestly, the proposed deal doesn't seem too bad:

A package of incentives worth at least $50 million is being offered to Sears to relocate its headquarters and some 5,000 jobs to the Detroit metropolitan area, two sources familiar with the talks said Friday.

The new tax hike takes effect in 2012, and Sears hasn't made a solid decision regarding whether or not they are moving out of Illinois. If anything, they are staying vague and keeping quiet about any juicy details:

A Sears representative was not available for comment, but the company has repeatedly issued the same statement on its future. "It's very important for everyone to understand that we have made no decisions at this point," the company said in a statement first issued last month. "We do owe it to our associates and shareholders to consider options and alternatives and intend to be very thoughtful and thorough in our deliberations."

If Sears moves its headquarters to Michigan, let alone any other state, could it really bounce back from being targeted as a brand that is likely to disappear in 2012? Let's hope whatever decision Sears decides to make, it's a smart one.