Sears Holding Corps. will lay off 100 workers at its Hoffman Estates headquarters, two months after Illinois gave Sears a $150 million tax credit to keep jobs in the Prairie State. The layoffs don't violate the tax credit nor the special property tax district the state gives the company, which has strained the Hoffman Estates school district.
Under the tax deal, Sears gets a $15 million tax credit each year over the next ten years for keeping its company hq in Illinois. Sears previously announced that they will close up to 120 Sears and KMart stores nationally due to poor holiday season sales.
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The real "non partisan" headline should read;
“Sears lay off workers after Gov. Quinn drafts sloppy tax incentive legislation”.
The sole purpose of providing sears with a tax break to stay In Illinois was to keep jobs in Illinois. Now look how easy it was for Sears to simply say they are meeting the minimum staffing requirements while enjoying a free ride at Illinois tax payer’s expense.
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