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Capital Business
Posted at 06:37 PM ET, 10/05/2011

Sears drops Washington area from headquarters search

Sears Holdings Corp., which had been considering the
A Sears spokesperson said the company is looking to Ohio and Texas for possible relocation sites for its headquarters. (Paul Sancya - Associated Press)
Washington area as a place to relocate its corporate headquarters, appears to have crossed this area off its search list.

A source at the company confirmed a report in the Chicago Tribune today that the company had narrowed its list of possible relocation sites for its headquarters to Ohio and Texas. Sears has begun conducting site visits and touring facilities in the two states, although the company also says it would like to remain in Illinois, where its headquarters are currently located in the Chicago suburb of Hoffman Estates.

Sears executives are attempting to negotiate an extension to tax breaks that the company enjoys in Illinois and plan to make a decision about the future of its headquarters by the end of the year. The full Sears statement:

“Our commitment to our associates and shareholders is to be thorough in our review of our opportunities in the hopes of resolving this matter in the near future. We have received offers from a number of states and recently conducted site visits and facility tours at a pair of them. We also look forward to continuing our productive and positive discussions with officials here in Illinois.”

By  |  06:37 PM ET, 10/05/2011

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