Florida woos Chicago Mercantile Exchange Group

TALLAHASSEE, Fla. — Gov. Rick Scott is trying to lure the Chicago Mercantile Exchange Group to Florida with a promise of lower taxes.

Scott on Tuesday released a letter he wrote last week to Terrance Duffy, executive chairman of the firm that owns two major futures exchanges. The Republican governor and former hospital chain CEO noted that Duffy had complained about a recent increase in the Illinois corporate income tax from 4.8 percent to 7 percent.

Several states have since tried to poach Illinois businesses. Florida, which has 5.5 percent tax rate, is only the latest. Lawmakers so far have resisted Scott’s proposal to repeal the tax.

CME Group spokesman Michael Shore noted the company recently has said it would like to stay in Chicago although it was concerned about the tax increase.