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The Way I See It!

I am an Ultra-Conservative, Alpha-Male, True Authentic Leader, Type "C" Personality, who is very active in my community; whether it is donating time, clothes or money for Project Concern or going to Common Council meetings and voicing my opinions. As a blogger, I intend to provide a different viewpoint "The way I see it!" on various world, national and local issues with a few helpful tips & tidbits sprinkled in.

MillerCoors HQ Moving To Chicago

Development, Money, TIF, Wisconsin

While it is no surprise that they are moving it is still sad to see them and the jobs go.  Many of us cling to hopes they would stay, but they did state they wanted neutral ground and so we are losing them.  Better in Chicago then Dallas for Milwaukee.

 

I read the report in the Milwaukee Journal and saw the reports on TV and in the end, I think MONEY did play a part.

 

Congratulations to Chicago on landing MillerCoors.  Here are two stories one from Chicago Tribune and another from the Denver Post on their take.  Please read the full version, I pulled out some highlights.

   

Chicago Tribune

 

Beer tab too high for jobs?

MillerCoors gets $20 million in aid to bring 300-400 HQ jobs to Chicago

  

In the sweepstakes for landing corporate headquarters, Chicago won one Tuesday when a joint venture of two of the biggest U.S. beer operations announced it will call the city home.

 

Landing MillerCoors will add 300 to 400 jobs, a tiny number for an economy the size of Chicago's, economic development experts say.  Still, it's a symbolic victory for a city that values its identity as a business crossroads yet has witnessed an exodus of famous names over the past decade through corporate restructurings, among them Amoco, Ameritech and First Chicago.  Chicago's also won some contests, wooing such companies as Boeing from Seattle and United Airlines from the suburbs.

  

The company chose Chicago because it will have "access to an attractive base of talent, transportation and business resources," MillerCoors President Tom Long said in a statement, adding the company was "grateful" for Illinois' "support."

 

Merriman agreed winning MillerCoors is a symbolic victory.  "The question is whether the tax breaks are justified. The tax breaks are not symbolic."

 

The city has offered assistance to MillerCoors in the form of tax-increment financing.  The exact amount hasn't been determined, but Rita Athas, executive director of World Business Chicago, the city's economic development office, said it would likely be $2.5 million to $5 million.

 

The city has given similar TIF subsidies to other corporate relocations.  But such incentive packages have been criticized because TIFs were set up to fix blighted areas.

 

Illinois has lined up an $18 million assistance package, primarily involving income tax rebates.

 

Full Story

  

The Denver Post

 

Colorado gets canned for MillerCoors' HQ

 

MillerCoors has selected Chicago as its headquarters site, rebuffing pleas from metro Denver and Milwaukee to locate the lead corporate office in the historic homes of Coors and Miller beer.

 

In a consolation prize of sorts, the Coors brewery in Golden will get a $100 million capital infusion to update its brewing and packaging equipment.

 

The investment will enable the brewery to make both Coors and Miller brands — a key component of the recently completed merger of Coors' and Miller's U.S. operations.

 

The state of Illinois offered MillerCoors an $18 million incentive package, most of it from corporate income tax credits based on job creation over the next 15 years.

 

The city of Chicago also agreed to provide a financing package of undisclosed value that will provide tax breaks to MillerCoors if it locates the headquarters in an area targeted for economic development.

 

The office will be in the downtown area, Kiely said, but a site hasn't been selected.  Leased office space, new construction or purchase of an existing building are all under consideration, MillerCoors officials said.  The company hopes to open the headquarters by mid-2009.

 

Full Story

 

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