Committee expected to address ADM tax-breaks

Posted:

Chicago (AP) -- An Illinois House committee is expected to discuss a proposed incentive package created to persuade Archer Daniels Midland Company to keep its global headquarters in the state.

 

The proposal would give ADM a 10 percent break on utility taxes for up to 30 years and an income-tax credit. The Revenue and Finance Committee meets Tuesday in Chicago.

 

ADM announced last week it plans to move its global headquarters out of Decatur. The company has said it's looking for a new headquarters with better global access.

 

The bulk of operations and some 4,400 jobs would stay in Decatur. And the central Illinois community would keep the title of North American headquarters.

 

ADM processes corn, soybeans and other crops to make everything from animal feed to ethanol.

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