The Clinton Herald, Clinton, Iowa

Local News

November 7, 2013

ADM, OfficeMax tax breaks get initial OK

SPRINGFIELD, Ill. — A state senate committee has approved tax credits worth up to $30 million for Archer Daniels Midland Company and $53 million for the newly merged OfficeMax and Office Depot.

The Senate Executive committee approved both measures on a voice vote Wednesday. They now move to the full Senate, where they could get votes today.

Naperville-based OfficeMax and Florida-based Office Depot completed their merger Friday.

The newly formed company — using the name Office Depot — is deciding whether to be based in Illinois or Florida.

Ravi Saligram is interim co-CEO. He says the company would keep 2,050 jobs in Illinois and add 200 jobs.

Decatur-based ADM announced in September it plans to move its global headquarters to a city with better international access. Chicago officials say they’re in the running.

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