ANOTHER BIZ MOVES TO WISCONSIN
Democratic politician flee to Illinois.. but business, like the kind who actually create jobs, seem to be headed in the opposite direction.
FatWallet.com is leaving Illinois for Wisconsin after losing business ties with major online retailers since Gov. Quinn signed of the “Amazon.com tax” earlier this month.
The web shopping business, based near Rockford, partners with online retailers like Amazon and Overstock.com, will relocate to Beloit on April 8 after at least a dozen retailers told FatWallet they would cut ties after the law forced online retailers to collect the state’s 6.25 percent sales tax in a way to preserve profits.
The company, which nets about $13 million a year, was expecting to lose $4 million in annual revenue, said Brent Shelton, FatWallet.com spokesman.
The company, which employs 54 people, will look for permanent residency in Beloit after the move. Shelton said the company did not know if it would ever return to Illinois.
“I think there is a little bitterness,” he said. “The way the taxation has gone in Illinois, they are not making it a lucrative choice.”