Office Depot headquarters remains in Florida... When will Illinois politicians stop playing corporate blackmail games?
On the morning of December 10, 2013, Crain's Chicago Business reported on line that Illinois was "losing" the possibility of the company's headquarters of Office Depot to Boca Raton, Florida. But as the story notes, Office Depot is already headquartered in Boca Raton. So what was all the fuss about? Once Office Max and Office Depot had merged, some Illinois politicians began the routine process of subordinating the needs of their state to corporate blackmail: "If you don't give me more, we'll leave..." Etc.
Illinois Governor Pat Quinn, Democrat candidate for governor in 2014.On the same day the Illinois General Assembly voted on what critics are calling "Pension Theft", there was also a vote in the Illinois Senate -- in favor of the demanded bribe from the new corporate entity. That fact was nullified when the Illinois House failed to vote and recessed. But the voting record of every senator is available for public inspection, and it shows that Illinois politicians are still regularly bowing down to corporate blackmail -- even from corporations that are barely paying any taxes now.
Naperville loses out on Office Depot headquarters. December 10, 2013,Today's Headlines 12/10/2013
Office Depot Inc., the company formed in the merger of Office Depot and OfficeMax Inc., said today that Boca Raton, Fla., would be its headquarters.
"The decision is the result of a thorough evaluation that took into account a number of important factors, including the cost to operate each headquarters location, lease obligations and sublease considerations, tax implications, government incentives, ability to add associates and incorporate functions in the current space, and people-related costs," the company said in a statement.
Boca Raton was the headquarters of Office Depot, while OfficeMax was based in Naperville.
�Selecting the headquarters location is a critical step toward integrating our two companies,� Chairman and CEO Roland Smith said in the statement. "Both Florida and Illinois have many positive attributes, but our analysis concluded that Boca Raton provides the best platform for us to achieve planned synergies, leverage assets to drive improved profitability, and launch a compelling vision for the future."
The company will stay in its current headquarters in Boca Raton in South Florida. The building "has ample space to accommodate associates who will relocate from Illinois," the statement said.
Office Depot and OfficeMax stores, customer service centers, warehouses and distribution centers are not affected by headquarters decision, the company said.
