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Micki Maynard · Another Rumored Move: Sears to DC
June 20th, 2011
Remember the list of Midwest companies we gave you last month that won incentives to stay put? Now, add Sears Holdings to the group that is looking at options elsewhere.
Sears on State Street, Chicago (Niala Boodhoo)
According to the Washington Post, Sears, which is based in Hoffman Estates, Ill., is considering a site in the Washington D.C. area. Sears is the parent of Sears and K-Mart.
It has a new CEO who says he wants to give the 108-year old company more of an online identity. Our Niala Boodhoo looked at Sears earlier this year.
Sears is one of 110 companies with tax breaks from the state of Illinois that are set to expire. At its current headquarters, the Post says, Sears occupies 2.4 million square feet and employs 6,200 people. It has played the incentive game before. About 20 years ago, it announced plans to move its headquarters from the Sears Tower to North Carolina, and wound up with a package that prompted its relocation in the Chicago suburbs.
