CME: Illinois Tax 'Untenable', Looking South

Quote from jficquette:

I wouldn't put it in Miami due to Hurricanes. Dallas, Atlanta would be best choices.
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Georgia has a 6 % corporate tax rate.

Texas has a flat 1 % corporate tax rate on revenues over $1M - which is a smoking hot deal.
 
I wouldn't get to worked up over this. My guess CME will stay exactly where it Is, in Chicago. This same game went on a few years back in NYC with the NYSE possibly relocating across the Hudson River to NJ.

It never took off. At the end of the day a deal gets cuts to keep them from moving. Chicago won't let the tax revenue pack it's bags regardless what anyone says. Especially not in this type of economy and in this political climate.
 
Quote from bone:

Listen to what the jackass Illinois Governor said when Caterpillar threatened to leave Illinois over tax rates:

and I quote, from the Chicago Tribune:

"Caterpillar's not leaving Illinois. They have well-skilled workers who know how to get the job done. They just signed an agreement with the United Auto Workers. I think it's for six years," Quinn said.

Last summer, Quinn lobbied for a new Caterpillar excavator plant to be built here, but instead it went to Texas, one of the states now trying to lure the company away.
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Typical polictician thinking that they can control big bussiness. I saw the same thing occur in Western New York. Trico and other industrial corperations locked the doors and moved. With out prfered tax treament they will always follow the path of least resisitence. Where the local governments can get the dollars back is through the populous. Just raise the taxes on the masses, you can't contain a bussiness to a locale under international law. Unless an industry is state owned private corperations can decide where to conduct commerce.

Akuma
 
the CME (or any exchange) could relocate anywhere. They are basically just a computer matching orders,clearing trades, collecting fees. They dont manufacture or produce anything. Data centers could stay where they are.
 
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