Illinois Business Developments

Illinois as the biggest markets in the Midwest and home to more than 22,000 corporate headquarters, an active startup scene and over 1.2 million small-scale businesses, offers the infrastructure that businesses require to succeed in today's competitive business. From the world-class infrastructure that connects businesses to suppliers and customers, to a talented workforce in various industries as well as an advanced manufacturing base - Illinois is a leader in many areas such as advanced and clean energy, agribusiness, IT life sciences transportation logistics.

Illinois has experienced a tremendous increase in foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among those most investing in Illinois; by 2023 this amount reached over USD $13.2 billion across agricultural, manufacturing, and other industries in Illinois alone.

Since 2014, Media news (just click the up coming site) nearly $1 billion in incentives have been given out under Illinois' Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as green energy production. In the last month, DCEO also provided PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their new state-of-the-art manufacturing facility located in East Alton.

Governor JB Pritzker accompanied by representatives of The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a innovative research hub that is at the forefront of leading scientific studies. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their plant for manufacturing in Elgin that will result in 50 full-time jobs while keeping the 140 full-time positions they currently have.

The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides entrepreneurs in the area with support for creating or expanding their businesses through programs such as free workshops on business planning and one-on-one sessions with expert Business Advisors, and access to funding opportunities.

State leaders in Indiana are insisting on employers offering higher salaries and benefits as a method of keeping child care workers employed nationwide and facing a lack of job. This comes following the closure of a child care center located in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also created an online tool to help small businesses understand labor laws. Employers can search by keyword or browse categories on this website, as well as connect to state agencies and resources.

Illinois Business Development Authority (IBDA) is taking action to promote awareness of Illinois tax incentives to business expansion. They hosted the IBDA's webinar this week on the subject. The webinar was recorded and will later be archived on their website.