State officials: eBay plans to expand into Chicago

State officials: eBay plans to expand into Chicago

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CHICAGO (Associated Press) - Illinois officials say that online auction giant eBay Inc. will expand into Chicago.

The Chicago Sun-Times reports (that eBay will hire 360 employees over three years and lease a 60,000-square-foot office in the city's Merchandise Mart building.

Department of Commerce and Economic Opportunity spokesman David Roeder says the company will be eligible for an incentives package. That package could cut $12 million from eBay's tax bill over the 10 years if it makes good on a pledge to spend $24 million on the expansion effort. That includes hiring 216 full-time employees by spring of 2016 and 144 more by the following March.

San Jose, Calif.-based eBay bought Chicago tech startup Braintree for $800 million last year.

Gov. Pat Quinn says he's "thrilled" that eBay is expanding into Chicago.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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