Illinois business moves headquarters to Wisconsin

EMCO Chemicals Distributors Inc., a chemical manufacturer, packager and distributor, announced the grand opening of its brand new, 260,000-square-foot-facility in Pleasant Prairie, Wis. That’s bad news for Illinois, as the company’s headquarters was previously located about 20 miles south in North Chicago. EMCO earns more than $300 million annually in sales, and is now the...

EMCO Chemicals Distributors Inc., a chemical manufacturer, packager and distributor, announced the grand opening of its brand new, 260,000-square-foot-facility in Pleasant Prairie, Wis.

That’s bad news for Illinois, as the company’s headquarters was previously located about 20 miles south in North Chicago. EMCO earns more than $300 million annually in sales, and is now the 10th-largest chemical distributor in the United States and 44th largest in the world, according to a press release from Wisconsin Gov. Scott Walker’s office.

EMCO President and CEO Edward Polen called the company’s Wisconsin move “a great opportunity for EMCO to grow.”

Fortunately for EMCO’s Illinois-based workers, the company’s Columbia and North Chicago locations will remain open. The company also has locations in Wisconsin, Illinois, Minnesota, Indiana and Canada.

But there isn’t any good news for Illinois’ tax base. And EMCO isn’t alone in its relocation decision after Illinois raised its corporate income tax rate from 3 to 5 percent in 2011.

Illinois now has the fourth-highest corporate tax rate in the industrialized world.

Many state lawmakers believe making this rate permanent – even though it is legally required to sunset in 2015 – will provide more revenue for the state. But the truth is that the high cost of running a business in Illinois is driving companies away.