Illinois Gives $3.5 Million in Aid to Fast Growing Web Business

Crain's Chicago Business reports:

Does Groupon really need a handout from near-broke Illinois? And Alexi Giannoulias perhaps waffles on trade again.

Chicago's Groupon, one of the web's fastest-growing companies ever, got a $3.5-million aid package today from the state of Illinois, land of the $13-billion budget deficit. Was this really necessary?

Both the state and the company are insisting yes. The 250 new workers to be hired at the daily dealmakers' Chicago headquarters under the financial package announced by Gov. Pat Quinn could instead have been moved to one of the company's other offices.

Great moments in rent-seeking.