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posted: 11/12/2012 1:02 PM

United to repay $5.6M in incentives to Chicago

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  • Mayor Rahm Emanuel's office said Monday morning that United also will forgo nearly $10 million in additional city grant money because it is leaving the site and consolidating at Willis Tower.

      Mayor Rahm Emanuel's office said Monday morning that United also will forgo nearly $10 million in additional city grant money because it is leaving the site and consolidating at Willis Tower.

 
Associated Press

City officials say United Airlines will repay $5.6 million in tax incentives the company received for redevelopment of its downtown Chicago headquarters.

Mayor Rahm Emanuel's office said Monday morning that United also will forgo nearly $10 million in additional city grant money because it is leaving the site and consolidating at Willis Tower. United is no longer eligible for that money. Emanuel called United's announcement "an incredible act of corporate citizenship."

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United recently extended its lease at the Willis Tower, formerly the Sears Tower, through 2028. The lease includes more than 800,000-square-feet of space in the skyscraper. The company says it will have more than 4,000 employees at Willis Towers by the second quarter of next year.

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