Once upon a time, there were thousands of young Illinoisans actively looking for jobs in the suburbs with good schools for their kids or soon-to-be-kids, low taxes, and jobs they could drive to easily. They spawned the birth of the office park.
With two-stories of bricked-over shop windows on two major unadorned elevations, the Sears store on East 79th Street looks like an unfriendly neighbor with shades pulled--not good for a retailer getting its clocked cleaned by the big-box behemoth from Bentonville.
Sears laid off 100 workers at its headquarters outside of Chicago on Thursday, two months after the company got a hefty tax credit for dropping a threat to move its headquarters out of state.Sears Holding Corp.
Sears and Kmart will be closing more than 100 stores after disappointing holiday sales revenue, that announcement coming just two weeks after the state of Illinois guaranteed parent company Sears Holding Corp.
Sears Holdings Corp. and Chicago’s financial exchanges have quit threatening to pull up stakes now that Illinois has enacted tax breaks for them. But it remains unclear whether state incentives to big companies are wise uses of economic-development resources.
Two weeks after a tax-break bill went down in flames, legislation giving two Illinois companies relief is on its way to Gov. Pat Quinn.The Senate passed a bill today giving Sears and CME Group tax breaks after they threatened to leave the state.
CME Group and suburban-based Sears are one step closer to getting the state tax breaks meant to persuade them to stay headquartered in Illinois.On Monday the Illinois House approved a new tax relief package after it resoundingly rejected a similar measure last month.