Sandwich chain Jimmy John's will be moving part of its operations to Florida next year. Founder Jimmy John Liautaud threatened to move in 2011 after Illinois' corporate tax hike, and announced during a panel discussion he'll make good on that promise by relocating the company's licensing division in early 2013. Liautaud applied for residency in Florida after Gov. Pat Quinn raised the corporate tax rate from 3 percent to 5 percent, but said it's "the way they spend the tax [that] is really driving me away."
He also stated that this is the start of moving the company out of Illinois for good. According to Liautaud, it's likely the sandwich titan will be based out of Indiana or Austin, TX within the next four years. The chain has more than 1,000 corporate and franchised locations and has been courted by Michigan, Indiana and Texas.
· Jimmy John's Founder Moving Operations Out of State Next Year [Crain's]