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 A spokesman said Mayor Greg Ballard left a meeting in Wisconsin
early to meet with CME Group Inc. executives, just days after a
package of tax breaks intended to keep the exchanges in place failed
to clear the Illinois General Assembly.
"Anytime you would have an opportunity to attract a company like CME
Group, obviously it would be a great thing for the city, for
Indiana, for the state as a whole," Ballard spokesman Marc Lotter
said, adding that the city and state have been talking with CME for
months. Lotter declined to provide details on the talks, as did Laurie
Bischel, a spokeswoman for CME Group. "I can't comment; I can just confirm that there were meetings,"
Bischel said.
The mayor, in a message Friday evening on Twitter, said
the meeting was a good one. "Today's meeting w/the CME went well. Thanks
for your enthusiasm and support," the message said. Meanwhile, a spokeswoman for Illinois Gov. Pat Quinn said talks
continue over the tax breaks. "We're continuing to work with all sides to reach a bipartisan
agreement," Brooke Anderson said by email. The measure's sponsor, Rep. John Bradley, did not return a call
seeking comment. CME Group and CBOE Holdings Corp., which owns the Chicago Board
Options Exchange, have threatened to leave Chicago over what they
believe are disparities in Illinois tax code that unfairly inflate
their tax burdens. They're two of a handful of prominent Illinois-based companies,
including Sears Holdings Corp. and Caterpillar Inc., that have
talked about their options outside the state since the corporate
income tax was raised in January.
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The state Senate passed a tax-breaks passage this week, but it
failed in the House. Legislative leaders said they were determined
to work out a deal.
The measure would provide breaks for the two exchanges and Sears, as
well as a research-and-development tax credit supported by
Caterpillar and breaks for low-income residents of Illinois.
The Board of Trade, where futures trading originated, was founded in
1848. Its building is a downtown Chicago landmark. The Chicago
Mercantile Exchange was founded in 1898, as the Chicago Butter and
Egg Board. [Associated Press,
By DAVID MERCER and CHARLES WILSON] Follow David Mercer on Twitter at
https://twitter.com/DavidMercerAP.
Follow Charles Wilson on Twitter at
https://twitter.com/CharlesDWilson.
Copyright 2011 The Associated Press. All rights reserved. This
material may not be published, broadcast, rewritten or
redistributed.
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