The layoff of 700 workers at Motorola Mobility’s Illinois operation will mean the disappearance of something else: a state tax incentive package worth up to $100 million. The company agreed in 2011 to stay in Libertyville and is now moving to Chicago, albeit with fewer employees.
Click here for summary
“We put a proviso in the agreement that if the employment of the company went below 2500 employees, they would get no incentive whatsoever from the state,” said Gov. Pat Quinn. “I talked to the CEO on Friday and informed him that that’s the way the state would go, and he said he understood.”The governor claimed credit for at least keeping the cell phone maker in the state; he said it was on the verge of moving to San Diego.
Also on Quinn’s mind as he traversed the Illinois State Fair: Friday’s special session he called so lawmakers could deal with pensions. “I hope our legislators don’t think that the key date is Nov. 6, Election Day. These bond buyers, they have green eyeshades, and look every day, and they don’t use an election calendar.” Quinn said he fears the bond buyers and agencies will downgrade Illinois. A Quinn spokeswoman said Friday may not be the last special session day before November’s veto session, which is after the election.