tag:blogger.com,1999:blog-12703782.post2559906381564528571..comments2024-03-25T13:42:25.771-05:00Comments on Advance Indianaâ„¢: Crain's Report: Daniels Offering $150 Million To CME To Move To IndianaGary R. Welshhttp://www.blogger.com/profile/15185079937305083438noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-12703782.post-51698502192857308512011-09-30T15:20:07.948-05:002011-09-30T15:20:07.948-05:00Hammond's Mayor McDermott recently railed agai...Hammond's Mayor McDermott recently railed against Daniels for saying Northwest Indiana was hurt economically because of its political corruption. He hinted in a radio interview a week ago that he anticipated a major business announcement in the Region in the near future, and that when that announcement was made, he would throw Daniels' words back in his face. I'm wondering if this is what he had in mind? The consensus on the Illinois side is that CME would not move to Indianapolis because its top executives would still want to live in the Chicago area if a move was to be made.Gary R. Welshhttps://www.blogger.com/profile/15185079937305083438noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-45693049421535039082011-09-30T13:59:14.949-05:002011-09-30T13:59:14.949-05:00I would predict the $150 million tax reduction inc...I would predict the $150 million tax reduction includes a signficant reduction in property taxes.Paulhttps://www.blogger.com/profile/12365201409903003274noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-35575727519569320602011-09-30T13:36:41.858-05:002011-09-30T13:36:41.858-05:00Historically, Indiana's individual and corpora...Historically, Indiana's individual and corporate income tax rates have been higher than Illinois' tax rates. Illinois did not reach the rates of Indiana's until this last tax increase. Indiana is gradually reducing its corporate rate below Illinois' rate; however, Individual income tax rates in Indiana are as high or higher than Illinois' when you factor in the local income taxes Indiana imposes. Lake County, interestingly, is about the only large county in Indiana without a local income tax. I can't see CME saving that much money in rates; there must be some tax credits included with that as well. The EDGE tax credit, for example, allows a company a credit equal to 100% of its employee tax withholdings for the new jobs it creates within Indiana.Gary R. Welshhttps://www.blogger.com/profile/15185079937305083438noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-70575981666672138692011-09-30T12:45:19.291-05:002011-09-30T12:45:19.291-05:00CME owing $150 million less annually in corporate ...CME owing $150 million less annually in corporate taxes to Indiana than they would owe to Illinois isn't the same as Daniels' offering them a $150 million incentive, as if that were a taxpayer giveaway. Any incremental move of the corporate hierarchy of the Chicago Mercantile Exchange to Indiana would be extraordinary. Isn't this the kind of big thinking we value Daniels for?Anonymousnoreply@blogger.com