A tax break to keep Sears Holdings in Illinois is halfway through the legislature, and Governor John Kasich says that’s bad news for Ohio’s bid to bring the retailer here. Lawmakers in the Illinois House have approved tax credits for Sears totaling $15 million a year for 10 years, and a property tax deal that could save the company $125 million. Ohio had offered Sears 400 million dollars in incentives, but Kasich said there’s no chance the state will get involved in a bidding war.
"No, no, no. A bidding war implies that there's no ceiling. No, there are ceilings as to what we can do. My feeling is, if the legislature in Illinois is going to pass something special, they’re going to stay in Illinois. I don’t think they’re going to ask them to stay in Illinois and then thumb their nose at them. I don’t see that happening.”
Kasich said he’s tried to sell Ohio as a good place for retailers and a “gamechanger” for Sears, which has had financial problems in recent years. The Illinois Senate will take up the Sears deal Tuesday.