Illinois Business Developments

Illinois as the biggest market of the Midwest and home to more than 22,000 corporate headquarters, a bustling business scene, and more than 1.2 million small businesses, is home to all the resources global businesses require to succeed in today's competitive business. From world-class infrastructure which connects companies with suppliers and customers, to a talented workforce in various industries as well as an advanced manufacturing base, Illinois excels in a variety of areas such as clean and advanced energy, agribusiness, IT life sciences logistics for transportation.

Illinois has seen tremendous foreign investment growth over recent years. Countries such as Britain, Japan, Media news Germany and China were among those most investing in Illinois; by 2023 this total was more than USD $13.2 billion in the agribusiness, manufacturing and manufacturing sectors in Illinois alone.

Since 2014, over $1 billion worth of incentives have been granted under Illinois' Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as clean energy production. In the last month, DCEO also provided PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their brand new advanced facility in East Alton.

Governor JB Pritzker joined representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to officially launch CZ Biohub Chicago - a revolutionary research hub located that is at the forefront in scientific research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing manufacturing facility in Elgin that will result in 50 full-time jobs while keeping the 140 full-time jobs they have currently.

The Illinois Small Business Development Center located at Southern Illinois University is funded by a co-operative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides local entrepreneurs with assistance in beginning or expanding their business with services that include free business planning workshops individual counseling sessions with expert Business Advisors, and access to financing opportunities.

State leaders in Indiana are pushing employers to offer better compensation and benefits as way of keeping child care workers employed nationwide and facing a lack of jobs. The move comes after the closing of a children's care facility located in Bronzeville which struggled to retain employees.

Illinois Department of Labor also launched an online tool designed to provide small-sized businesses with information on the laws governing employment. Employers can search using keywords or browse through categories on this site; as well as connect with state agencies and sources.

Illinois Business Development Authority (IBDA) is taking steps to raise awareness of Illinois tax incentives for business expansion by hosting an interactive webinar on the subject. The webinar was recorded and will become archived and posted on their site.