Illinois business exodus?

Sears has been based in Illinois for 125 years. After the state jacked its corporate income tax by nearly 50 percent in January, it started looking for a new home. Earlier this week the Illinois House voted down financial incentives to stay for the retail giant and CME, which runs the Chicago Mercantile Exchange and the Chicago Board of Trade.

This morning the Chicago Tribune says Ohio is offering $400 million in incentives to move there.

Caterpillar, which has called Illinois home for almost as long as Sears, has this message for the Prairie State: It is lost without a rudder.

Personal income taxes went up by 67 percent, a burden that certainly will influence decisions to leave Blagojevichland.

Technorati tags: Illinois illinois politics Patrick Quinn pat quinn taxes sears retail business small>