Groupon will receive $3.5 million in tax breaks and job training assistance in a state incentive package aimed at helping the fast-growing company create 250 jobs in Chicago rather than expand in other states.
The company allows nearly 25 million consumers to get discounts through group buying power over the internet. Groupon has grown from seven employees to 900 in Chicago over two years, with 2,500 workers worldwide.
Rob Solomon, president of Groupon and a Silicon Valley transplant, said the state help will help the company to attract more world-class talent. Gov. Pat Quinn, who is running in the Nov. 2 election, unveiled the deal, saying it will help keep brainpower in Illinois.
Groupon and the Chicago Tribune have signed a partnership agreement to work together in the near future, but the terms have yet to be disclosed, said Groupon spokeswoman Julie Mossler.
Wow. I wonder how a state that is broke can finance such a wonderful investment?
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