Jimmy John Liautaud is moving part of the sandwich chain that bears his name to Florida next year, making good on a threat issued in 2011 after Illinois hiked its corporate tax rate.
The founder of Jimmy Johns said during a Sept. 18 panel in Chicago that he will relocate the company’s licensing division to Florida, where he plans to move early 2013. Mr. Liautaud said in January 2011 that he applied for residency in Florida out of anger when Gov. Pat Quinn raised the corporate tax rate to 5 percent from 3 percent.
In remarks made last week as part of a half-day conference in Chicago on how tax policies affect corporate growth, Mr. Liautaud said the Florida move was just the first part of leaving Illinois for good.
“That’s what we’re going to do to start, but I think you’ll probably see us out of Illinois in the next four years and probably see us in Indiana or Austin (Texas), if I was to guess,” he said.