Deere tax breaks ending in Illinois

Illinois is carefully watching tax break deals with more than 100 companies set to expire over the next three years.

Deere & Company is one of those firms. Its deal runs out in 2013. The Moline-based company used $7.28 million in tax credits in a program called Economic Development for a Growing Economy.

Illinois provided tax incentives for companies that agreed to invest in and retain jobs in the state.

It requires the company to keep 350 jobs in place and create 30 more at plants in Moline, East Moline and Silvis.

Deere told the Dispatch-Argus that it has no current plans to re-apply for additional credits.

According to the Department of Commerce and Economic Opportunity, the end of a deal doesn’t guarantee a new one.

Just something to watch as Illinois works to keep and grow companies within the state.