The real story here is not that Sears is leaving, but why on Earth anyone is staying?
Not to interrupt a good Illinois-bashing (I live so so I’m entitled) - but facts have a bearing on this discussion.
Corporate tax rate in Illinois after all the jacking-up = 5%.
After incentives, losses, loopholes, etc. only about 1/3 of corporations actually pay these taxes.
And they have to weigh the benefits of being in Chicago vs. the costs, including corporate taxes. Some comparisons:
Iowa: 7.92%
Minnesota: 7.05%
Wisconsin: 6.5%
Missouri: 6%
Kentucky: 5.8%
Indiana: 3.4%
Of the adjacent states, only one has a lower corporate tax rate.
And bear in mind that Sub-S corporations pass thru their tax liability to the shareholders.