Thursday, June 09, 2011

Another one: Citing Quinn's tax increase, CME may leave Illinois

The company that owns the Chicago Mercantile Exchange and the Chicago Board of Trade, the CME Group Inc., says it is considering bolting from Illinois, asserting Governor Pat Quinn's corporate tax hike as the reason.

The exhanges have been based in Chicago since the 19th centurty, the Board of Trade was founded in Chicago in 1848. Sears is considering an exit too, it has been based in Illinois since 1886. Caterpillar has threatened to leave--it has been a Peoria-area fixture since 1910.

It appears only the CME corporate offices could depart for now--but could the exchanges follow? And the thousands of jobs?

Don't blame me, I voted for Republican Bill Brady last year.

Related posts:

IL comptroller: None of Quinn's "temporary" tax increase has gone to pay off old bills
Sears threatening to leave Illinois
Quinn tax may lead to Caterpillar to leave its Illinois cocoon
Quinn's "Amazon tax" costing Illinois jobs
Gov. Quinn Pro Quo: Pat Quinn's public-sector union cash, part four
IL treasurer Rutherford says Illinois on "verge of a financial disaster"

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1 comment:

James said...

I’ve been advising the owners of my place of employment to consider a move to a more business friendly state for a few years now. Our company is located in an industrial park in Des Plaines. It is now 45% occupied. Some have just gone out of business while many have fled the state.