Sears Moving Away from Hoffman Estates?
More than two decades ago, Sears Roebuck and Company cut a deal that allowed it to move from Sears Tower and into a headquarters in Hoffman Estates. That deal was pretty sweet at the time, but all those local incentives from 22 years ago are about to expire. So, where will Sears make its home in 2012?
We’ve heard that Sears Holding Corporation might actually move to North Carolina, Tennessee, Texas, or even New Jersey. Though it is pretty early in the process, a corporate relocation of that magnitude simply cannot be taken lightly. The company has got to plan and be ready. Part of their decision-making process will include an economic impact study that will show the company’s impact on where and when it moves.
Officials in Hoffman Estates are hoping to keep Sears there for at least another 15 years by offering tax breaks. These breaks wouldn’t be anything new, just really an extension of what the company got during original negotiations back when it moved from Sears Tower.
However, some of the rules will definitely change. If Sears decides to stay in Hoffman Estates, the company will be required to keep at least 4,000 workers in the village, which is about 2,000 more than they need now. However, it is less than the actual number of employees working currently – 6,200.
While there has been no final decision, we are interested in seeing where Sears decides to move.
Jon HuserBack to all blogs
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