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Jimmy Johns keeps corporate office in Champaign, will take licensing firm to Florida

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Old Jan 19, 2011, 09:03 AM   #1
Dan
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The founder of Jimmy John's said he has applied for Florida residency and may recommend that his corporate headquarters move out-of-state as a result of the Illinois tax increases enacted last week.

Jimmy John Liautaud told The News-Gazette on Tuesday that he is angry about the moves, which boosted the individual income tax from 3 percent to 5 percent and the corporate income tax from 7.3 percent to 9.5 percent.

"All they do is stick it to us," he said, adding that the Legislature and governor showed "a clear lack of understanding."

news-gazette.com
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Liautaud keeps corporate office in Champaign, will take licensing firm to Florida

Jimmy John Liautaud, founder and CEO of the Jimmy John's Gourmet Sandwiches LLC, said he someday wants to return his home and his business to Illinois. But for now he's headed to Florida.

"I'm physically moving to Florida, right now as we speak. So yeah, I'm going to leave," Liauataud said Wednesday following a panel discussion on land conservation at the University of Illinois College of Law. "The (corporate) office right now is going to stay on Fox Drive (in Champaign), but I'll take my licensing company down to Florida."

http://www.news-gazette.com/news/bus...icensing-firm-

Last edited by Dan; Nov 9, 2012 at 02:19 PM.
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Old Jan 19, 2011, 09:18 AM   #2
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One of many, I'm afraid.
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Old Jan 19, 2011, 09:30 AM   #3
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Woah, never saw this coming :rolleyes:
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Old Jan 19, 2011, 09:41 AM   #4
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It honestly makes me wonder if Miller now regrets moving their corporate headquarters from Milwaukee to Chicago....which state looks more desirable now?

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Old Jan 19, 2011, 09:48 AM   #5
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One of many, I'm afraid.
Yep....
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Old Jan 19, 2011, 10:06 AM   #6
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It honestly makes me wonder if Miller now regrets moving their corporate headquarters from Milwaukee to Chicago....which state looks more desirable now?
Or Boeing from Seattle to Chicago.

I couldn't blame Jimmy John for moving but it would stink to lose such a prominent homegrown business.

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Old Jan 19, 2011, 10:11 AM   #7
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One of many, I'm afraid.
This.
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Old Jan 19, 2011, 12:31 PM   #8
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hey Florida is not so bad

Illinois will drive away many more
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Old Jan 19, 2011, 12:45 PM   #9
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Once i get out of debt im going to be leaving this state as well.

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Old Jan 19, 2011, 01:03 PM   #10
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A lot of states are having similar issues. Illinois may have been one of the first, but they won't be alone. Reality is a beeotch that a lot of states are going to be dealing with. I believe I heard that Florida has been looking at their own tax situation. That would be quite a political football.

FYI, a lot of these companies that moved to Illinois did so with big tax breaks (I think), so I'm not sure how much the recent increase will impact them in the short term.
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Old Jan 19, 2011, 02:59 PM   #11
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I can't say that I would blame a company from moving out of the state of Illinois. Jimmy Johns is pretty small though. If McDonald's, Caterpillar or some other large corporation left, then I would be scared.
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Old Jan 19, 2011, 03:44 PM   #12
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I don't have Jimmy Johns clout, but I'll be following him to Florida also this year. My place is about finished.

I always enjoy driving by his headquarters. Some nice sports cars are often parked out back.
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Old Jan 19, 2011, 06:50 PM   #13
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Jimmy John Liautaud called into Jim Turpin on WDWS this morning.

He said 3-9 month timeline on a decision.

Starts at 40:00-

http://wdws.com/podcasts/penny_for_y...011/01/19/2789
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Old Jan 19, 2011, 07:59 PM   #14
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I just want to know who and the heck could to buy his house in Champaign? That thing is huge.
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Old Jan 19, 2011, 11:16 PM   #15
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Someone was looking for a politically convienient excuse to leave the state and found one.
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Old Jan 20, 2011, 08:04 AM   #16
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"Florida is one of the most pro-business states in the nation," said John Boyd Jr., a principal with BizCosts.com, the New Jersey-based company that did the analysis earlier this month. "And it has been for some time." BizCosts compared the annual costs of operating a typical corporate headquarters in 55 cities across the U.S., weighing factors such as labor costs, tax burden, utility costs and travel costs. Florida cities benefited from relatively low labor costs, tax burden, land and construction costs.

http://www.orlandosentinel.com/news/...,6551480.story
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Old Jan 20, 2011, 08:31 AM   #17
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Someone was looking for a politically convienient excuse to leave the state and found one.
EXACTLY! I'm not leaving you because I want to, I'm leaving you because I have to. That excuse fits like a glove now.
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Old Jan 20, 2011, 08:51 AM   #18
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EXACTLY! I'm not leaving you because I want to, I'm leaving you because I have to. That excuse fits like a glove now.
I doubt you guys heard his whole interview. He was very passionate in explaining that he didn't want to move the headquarters out of Illinois. He created a lot of jobs, and doesn't owe IL any explanation, but he chose to explain himself.

Not sure why anyone would defend a terribly managed state like Illinois vs. a successful business entrepreneur.
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Old Jan 20, 2011, 10:03 AM   #19
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Someone was looking for a politically convienient excuse to leave the state and found one.
Highly doubt that.
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Old Jan 20, 2011, 10:10 AM   #20
Kasino81
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GET OUT OF ILLINOIS this state is a broke dump, smart move Jimmy I'll eat their more often if you leave Ill-broke
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Old Jan 20, 2011, 11:38 AM   #21
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One of my good friends wife works at corporate for J.J.'s, she got a promotion so he quit his job to stay home with their toddler, and they are expecting another. Lots of family in the area so a move to Florida or elsewhere would be a difficult decision for them. They are really worried about what may happen now. I feel for them.
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Old Jan 20, 2011, 11:51 AM   #22
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There goes the new Jimmy John Assembly Hall
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Old Jan 20, 2011, 12:35 PM   #23
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Ah, good ole, state of Illinois. Corrupt politicians, over spending and democrat controlled=broke down.

Im 40 now so it might be a little tougher for me to move on to another police department however it's definitely a possibility.
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Old Jan 20, 2011, 12:36 PM   #24
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It honestly makes me wonder if Miller now regrets moving their corporate headquarters from Milwaukee to Chicago....which state looks more desirable now?
The new WI governor has been making statements like that.

Yet even with increased IL corporate tax, Wisconsin's rates are higher.

Those nagging little details . . .
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Old Jan 20, 2011, 12:37 PM   #25
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The new WI governor has been making statements like that.

Yet even with increased IL corporate tax, Wisconsin's rates are higher.

Those nagging little details . . .
Wait wait...Judy Topinka told me that Illinois had the highest corporate tax rate in the industrialized world...

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