Insurance company CNA Group is one of three Chicago firms returning $34 million in tax breaks to the city.
Also among the companies returning or not accepting special taxing district funds is CME Group, parent of the Chicago Board of Trade and the Chicago Mercantile Exchange. The exchanges will save millions of dollars a year due to a state income tax break passed by the Illinois Legislature.
CNA Group is returning $13.7 million in tax-increment financing money, and Bank of America is returning $5.4 million.
Officials of Mayor Rahm Emanuel’s administration tell the Chicago Tribune both companies fell short of the 2,700 or so jobs each was required to keep in exchange for the tax breaks, which helped them make building renovations.
Was this article valuable?
Here are more articles you may enjoy.
Florida OIR Orders Unlicensed RRG to Cease and Desist After Owners Arrested 
New Jersey Employers Should Prepare Now for Oct. 1 Independent Contractor Rule 
State Farm to Increase Claims Workforce by 3,000 
Florida Agents Appointed With Citizens Drops as Carrier Competition Grows 
